Key Takeaways
- Idaho requires the Brokerage Representation Disclosure Form to be provided to all buyers and sellers
- The disclosure form must be provided before the consumer discloses confidential information
- Idaho recognizes several types of representation: Seller representation, Buyer representation, Disclosed Dual Agency, and Non-Agency (limited representation)
- Licensees must obtain written consent before engaging in dual agency
- The designated broker is responsible for ensuring compliance with agency disclosure requirements
Idaho Brokerage Representation
Idaho law requires real estate licensees to disclose their agency relationships to all buyers and sellers through the Brokerage Representation Disclosure Form.
Brokerage Representation Disclosure Form
Purpose
The disclosure form must explain:
- The types of representation available in Idaho
- The licensee's duties under each type
- The consumer's options for representation
When to Provide
The disclosure form must be provided:
- Before the consumer discloses confidential information
- At first substantive contact (or as soon as practicable)
- Before any agency relationship is established
| Situation | When to Provide |
|---|---|
| Listing presentation | At beginning of meeting |
| Buyer inquiry | Before discussing needs or finances |
| Open house | Before substantive conversation |
| Property showing | Before discussing buyer's situation |
Signature Requirements
| Requirement | Details |
|---|---|
| Licensee signature | Required |
| Consumer signature | Required to acknowledge receipt |
| Retain copies | Both parties should keep signed copies |
Key Rule: Even if the consumer refuses to sign, the licensee should note the refusal and date on the form.
Types of Representation in Idaho
Idaho recognizes several forms of brokerage representation:
1. Seller Representation (Listing Agent)
The licensee represents the seller's interests exclusively:
| Duty | Description |
|---|---|
| Loyalty | Undivided loyalty to seller |
| Confidentiality | Protect seller's confidential information |
| Disclosure | Disclose all material facts to seller |
| Obedience | Follow seller's lawful instructions |
| Accounting | Account for all funds and property |
| Care | Use reasonable skill and care |
2. Buyer Representation (Buyer's Agent)
The licensee represents the buyer's interests exclusively:
| Duty | Description |
|---|---|
| Loyalty | Undivided loyalty to buyer |
| Confidentiality | Protect buyer's confidential information |
| Disclosure | Disclose all material facts to buyer |
| Obedience | Follow buyer's lawful instructions |
| Accounting | Account for all funds and property |
| Care | Use reasonable skill and care |
3. Disclosed Dual Agency
Dual agency occurs when a licensee or brokerage represents both the buyer and seller in the same transaction.
Requirements for Dual Agency
| Requirement | Details |
|---|---|
| Written consent | Both parties must consent in writing |
| Disclosure | Full disclosure of the dual relationship |
| Timing | Consent must be obtained BEFORE dual agency begins |
| Form | Use IREC-approved dual agency consent form |
Dual Agency Limitations
When acting as a dual agent, the licensee CANNOT:
- Disclose confidential information from one party to the other
- Advise one party to the detriment of the other
- Take sides in negotiations
- Disclose what price buyer will pay or seller will accept
Warning: Dual agency significantly limits what you can do for either party. Full disclosure and written consent are essential.
4. Non-Agency (Limited Representation)
Idaho allows non-agency relationships where the licensee provides limited services without full representation:
| Feature | Description |
|---|---|
| No fiduciary duties | Not a full agent relationship |
| Limited services | Facilitator role only |
| Disclosure required | Must be disclosed in writing |
| Both parties aware | Both buyer and seller know the limited role |
Designated Broker Responsibility
The designated broker of each brokerage is responsible for:
- Ensuring all licensees comply with disclosure requirements
- Maintaining records of agency disclosures
- Training licensees on proper agency procedures
- Supervising agency relationships within the brokerage
In-Company Transactions
When both the listing agent and buyer's agent work for the same brokerage:
| Scenario | Result |
|---|---|
| Same agent represents both | Dual agency (consent required) |
| Different agents, same brokerage | May still be dual agency (depends on brokerage policy) |
| Different agents, assigned designation | May avoid dual agency if properly structured |
Exam Tip: Always understand how your brokerage handles in-company transactions and what disclosures are required.
When must the Brokerage Representation Disclosure Form be provided to a consumer in Idaho?
What is required before a licensee can engage in dual agency in Idaho?
Which of the following can a dual agent do in Idaho?