543B.59 Appointed agents within a firm. 1. Appointed agents. A real estate brokerage agency entering into a brokerage agreement, through a designated broker, may notify a client in writing of those affiliatedlicensees within the real estate brokerage agency who will be acting as appointed agents ofthat client to the exclusion of all other affiliated licensees within the real estate brokerageagency. 2. Dual agent. A real estate brokerage agency and a designated broker are not considered to be dual agents solely because of an appointment under the provisions of thissection. However, an affiliated licensee who personally represents both the seller and thebuyer in a particular transaction is considered to be a disclosed dual agent and is requiredto comply with the provisions of this subchapter governing disclosed dual agents. 3. Actual knowledge — information. A client, a real estate brokerage agency, and its appointed agents are deemed to possess only actual knowledge and information at the timethe appointed agents are appointed. Knowledge or information is not imparted by operationof law among the clients, the real estate brokerage agency, and its appointed agents. 4. nformation at the timethe appointed agents are appointed. Knowledge or information is not imparted by operationof law among the clients, the real estate brokerage agency, and its appointed agents. 4. Appointments — roles. The commission shall define by rule the methods of appointment and the role of the real estate brokerage agency and the designated broker.The rules must include a requirement that clients be informed as to the real estate brokerageagency’s appointed agent policy and be given written notice of that policy in advance ofentering into a brokerage agreement. 95 Acts, ch 17, §5Referred to in §543B.61 Sat Dec 23 01:45:49 2023 Iowa Code 2024, Section 543B.59 (18, 1)
Iowa Legal Code