18.85.053 - Controlling interest in a real estate business -- Prohibited practices. - Washington Statutes

Controlling interest in a real estate business — Prohibited practices.

(1) A real estate licensee or person who has a controlling interest in a real estate business shall not, directly or indirectly, give any fee, kickback, payment, or other thing of value to any other real estate licensee as an inducement, reward for placing title insurance business, referring title insurance business, or causing title insurance business to be given to a title insurance agent in which the real estate licensee or person having a controlling interest in a real estate business also has a financial interest.

     (2) A real estate licensee or person who has a controlling interest in a real estate business shall not either solicit or accept, or both, anything of value from: A title insurance company, a title insurance agent, or the employees or representatives of a title insurance company or title insurance agent, that a title insurance company or title insurance agent is not permitted by law or rule to give to the real estate licensee or person who has a controlling interest in a real estate business.

     (3) A real estate licensee or person who has a controlling interest in a real estate business shall not prevent or deter a title insurance company, title insurance agent, or their employees or representatives from delivering to a real estate licensee or its employees, independent contractors, and clients printed promotional material concerning only title insurance services as long as:

     (a) The material is business appropriate and is not misleading or false;

     (b) The material does not malign the real estate licensee, its employees, independent contractors, or affiliates;

     (c) The delivery of the materials is limited to those areas of the real estate licensee's physical office reserved for unrestricted public access; and

     (d) The conduct of the employees or representatives is appropriate for a business setting and does not threaten the safety or health of anyone in the real estate licensee's office.

     (4) A real estate licensee shall not require a consumer, as a condition of providing real estate services, to obtain title insurance from a title insurance agent in which the real estate licensee has a financial interest.

[2008 c 110 § 10.]

Notes: Severability -- 2008 c 110: See RCW 48.29.900.