§ 543b-62

543B.62 Duties and liabilities of licensees and parties. 1. Except as provided in subsection 2, the duties of a licensee specified in this chapter or in rules adopted pursuant to this chapter supersede any fiduciary duties of a licensee toa party to a transaction based on common law principles of agency to the extent that thosecommon law fiduciary duties are inconsistent with the duties specified in this chapter or rulesadopted pursuant to this chapter. 2. This section shall not be construed to modify a licensee’s duty under common law as to negligent or fraudulent misrepresentation of material information. 3. a. A licensee who is providing brokerage services to a client and who retains another licensee to provide brokerage services to that client is not liable for misrepresentation madeby the other licensee, unless the retaining licensee knew or should have known of the otherlicensee’s misrepresentation or the other licensee is repeating a misrepresentation made tothe other licensee by the retaining licensee. b. A broker is responsible for supervising a salesperson or broker associate employed by or otherwise associated with the broker as a representative of the broker.

licensee by the retaining licensee. b. A broker is responsible for supervising a salesperson or broker associate employed by or otherwise associated with the broker as a representative of the broker. The existenceof an independent contractor relationship or any other special compensation arrangementbetween the broker and the salesperson or broker associate does not relieve the broker,salesperson, or broker associate of the duties and responsibilities established by this chapter.A salesperson or broker associate shall keep the employing broker fully informed of allactivities being conducted on behalf of the broker and any other activities that might impacton the broker’s responsibilities. However, the failure of the salesperson or broker associateto keep the employing broker fully informed does not relieve the broker of the duties andresponsibilities established by this chapter. 4. a. A licensee providing brokerage services to a client shall not be in possession of the client’s real estate. A licensee may enter upon the premises of a client’s real estate to fulfillthe licensee’s obligations pursuant to section 543B.3, section 543B.6, or pursuant to a writtenagreement between the

estate. A licensee may enter upon the premises of a client’s real estate to fulfillthe licensee’s obligations pursuant to section 543B.3, section 543B.6, or pursuant to a writtenagreement between the licensee and the client. b. A licensee has no duty of care with regard to a client’s real estate or with regard to a person entering, viewing, or traversing upon the premises of a client’s real estate other thanto fulfill the licensee’s obligations pursuant to section 543B.3, section 543B.6, or pursuant toa written agreement between the licensee and the client. c. A licensee providing brokerage services to a client shall not be liable for damage to the client’s real estate or for any physical injury, accident, or harm to a person entering, viewing,or traversing upon the premises of a client’s real estate unless the licensee is the direct andproximate cause of the damage, injury, accident, or harm. d. A client shall be responsible for the care, maintenance, repair, condition, and safety of the client’s real estate that is being offered to sell, exchange, buy, or rent to a person. 95 Acts, ch 17, §8; 2023 Acts, ch 68, §1NEW subsection 4 Sat Dec 23 01:45:52 2023 Iowa Code 2024, Section

f the client’s real estate that is being offered to sell, exchange, buy, or rent to a person. 95 Acts, ch 17, §8; 2023 Acts, ch 68, §1NEW subsection 4 Sat Dec 23 01:45:52 2023 Iowa Code 2024, Section 543B.62 (19, 2)