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- Alaska Statutes.
- Title 8. Business and Professions
- Chapter 88. Real Estate Brokers and Other Licensees
- Section 615. Duties Owed By Licensee in All Licensee Relationships.
previous: Section 610
. Authorization of Neutral Licensee Relationship.
next: Section 620
. Duties Owed By Licensee Representing a Person.
AS 08.88.615. Duties Owed By Licensee in All Licensee Relationships.
- (a) Unless additional duties are agreed to in a written document signed by the person, and regardless of the type of
licensee relationship in which the real estate licensee is acting, a real estate licensee owes the following duties to
each person to whom the licensee provides specific assistance:
- (1) the exercise of reasonable skill and care;
- (2) honest and good faith dealing;
- (3) the presentation of all written offers, written notices, and other written communications to and from the person in a
timely manner regardless of whether the real estate is subject to an existing contract for sale or lease or the person
is already a party to an existing contract to buy or lease real estate;
- (4) except as provided in (b) of this section, the disclosure of all material information known by the licensee regarding
the physical condition of real estate if the information substantially adversely affects the real estate or a person's
ability to perform the person's obligations in the real estate transaction or if the information would materially
impair or defeat the purpose of the real estate transaction;
- (5) accounting in a timely manner for all money and other property received from or on behalf of the person;
- (6) before the licensee provides specific assistance to the person, or when entering into a contract with the person to
provide specific assistance, providing a copy of the pamphlet established under AS 08.88.685(b)(2) and produced under AS 08.88.685
(c) that outlines the duties of the types of licensee relationships identified under AS 08.88.600;
- (7) before the licensee provides specific assistance to the person, obtaining from the person a document signed by the
person that discloses the licensee's relationship with the person;
- (8) in addition to the document provided under (7) of this subsection, providing to the person when the person signs an
offer in a real estate transaction handled by the licensee a written statement that states whether the licensee
represents the buyer, represents the seller, represents the lessee, represents the lessor, or provides specific
assistance to both the buyer and the seller or both the lessee and the lessor as a neutral licensee; the statement must
be contained in a separate paragraph entitled "Licensee Relationships" in the contract between the buyer and seller or
the lessee and lessor, or in a separate document entitled "Licensee Relationships."
- (b) The disclosure requirements of (a)(4) of this section may not be construed to imply a duty to
- (1) investigate a matter that
- (A) the licensee has not agreed to investigate; or
- (B) is not known by the seller, prospective buyer, lessor, prospective lessee, or licensee; or
- (2) disclose, unless otherwise provided by law, events that have occurred on the real estate that might affect whether a
person wants to buy or lease the real estate.
- (c) Notwithstanding (b)(2) of this section, before a buyer makes or accepts an offer in a real estate transaction, a real
estate licensee shall disclose to the buyer that a murder or suicide occurred on the real property that is the subject
of the real estate transaction if
- (1) the murder or suicide occurred within one year before the date that the licensee first showed the real estate to the
- (2) the licensee is aware that the murder or suicide occurred on the real estate.
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