§ 5-20.6-3 - Relationships – Creation and presumption. - Rhode Island Statutes

SECTION 5-20.6-3

   § 5-20.6-3  Relationships – Creationand presumption. – (a) It shall be presumed that all licensees in a real estate transaction areneutral transaction facilitators unless, the licensee obtains the informed,written consent of a buyer, seller, tenant, or landlord with an executedmandatory relationship disclosure to represent that person as a designatedclient representative.

   (b) The provisions of this chapter are expressly intended toabrogate the common law of agency; no type of agency representation shall beassumed by a brokerage, principal broker, licensee, buyer, seller, tenant, orlandlord nor shall agency representation be created by implication.

   (c) Types of relationships. The following types ofrelationships are recognized:

   (1) Neutral assistance as a transaction facilitator to assistone or more customers; and

   (2) Representation of a buyer, seller, tenant or landlord asa designated client representative.