§ 5-20.6-3. Relationships — Creation and presumption.
(a) It shall be presumed that all licensees in a real estate transaction are transaction facilitators unless the licensee obtains the informed, written consent of a buyer, seller, tenant, or landlord with an executed mandatory relationship disclosure to represent that person as a designated client representative.
(b) The provisions of this chapter are expressly intended to abrogate the common law of agency; no type of agency representation shall be assumed by a brokerage, principal broker, licensee, buyer, seller, tenant, or landlord nor shall agency representation be created by implication.
(c) Types of relationships. The following types of relationships are recognized:
(1) Assistance as a transaction facilitator to assist one or more customers; and
(2) Representation of a buyer, seller, tenant, or landlord as a designated client representative.
History of Section.P.L. 1989, ch. 141, § 2; P.L. 1990, ch. 425, § 2; P.L. 2007, ch. 344, § 1; P.L. 2007, ch. 403, § 1; P.L. 2013, ch. 27, § 2; P.L. 2013, ch. 38, § 2; P.L. 2014, ch. 528, § 2.
Structure Rhode Island General Laws
Title 5 - Businesses and Professions
Chapter 5-20.6 - Relationships in Residential Real Estate Transactions
Section 5-20.6-1. - Legislative purpose.
Section 5-20.6-2. - Definitions.
Section 5-20.6-3. - Relationships — Creation and presumption.
Section 5-20.6-4. - Duties owed by a transaction facilitator to a customer.
Section 5-20.6-5. - Duties owed by a designated client representative to client.
Section 5-20.6-6. - Dual facilitator.
Section 5-20.6-7. - Duty to protect confidential information.
Section 5-20.6-8. - Mandatory relationship disclosure.
Section 5-20.6-9. - Written requirement for representation of a client.
Section 5-20.6-10. - Client representation contract — Minimum requirements.
Section 5-20.6-11. - Relationship and compensation.