LD 1525
pg. 6
Page 5 of 14 An Act To Amend the Real Estate Brokerage Laws Page 7 of 14
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LR 2133
Item 1

 
D. Shall comply with all requirements of the laws governing
real estate commission brokerage licenses and any rules
adopted by the commission;

 
E. Shall comply with any applicable federal, state or local
laws, rules, regulations or ordinances related to real
estate brokerage including fair housing and civil rights
laws or regulations;

 
F. Has an obligation to preserve confidential information
provided by the seller during the course of the relationship
that might have a negative impact on the seller's real
estate activity unless:

 
(1) The seller to whom the information pertains grants
consent to disclose the information;

 
(2) Disclosure of the information is required by law;

 
(3) The information is made public or becomes public
by the words or conduct of the seller to whom the
information pertains or from a source other than the
licensee seller agent; or

 
(4) Disclosure is necessary to defend the licensee
seller agent against an accusation of wrongful conduct
in a judicial proceeding before the commission or
before a professional committee; and

 
G. Must be able to promote alternative properties not owned
by the seller to prospective buyers as well as list
competing properties for sale without breaching any duty to
the client.

 
2. Duty to buyer. The duty of a seller agent to a buyer is
governed by the following.

 
A. A real estate brokerage agency engaged by a seller agent
shall treat all prospective buyers honestly and may not knowingly
give false information and shall disclose in a timely manner to a
prospective buyer all material defects pertaining to the physical
condition of the property of which the real estate brokerage
agency seller agent knew or, acting in a reasonable manner,
should have known. A real estate brokerage agency seller agent
is not liable to a buyer for providing false information to the
buyer if the false information was provided to the real estate
brokerage agency seller agent by the real estate brokerage
agency's seller-client seller agent's client and the real estate
brokerage agency seller agent did not know or, acting in a


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