OCCUPATIONS AND PROFESSIONS
NEW HAMPSHIRE REAL ESTATE PRACTICE ACT
331-A:25-c Buyer Agent; Duties.
I. A licensee engaged by a buyer or tenant shall:
(a) Perform the terms of the written brokerage agreement made with the buyer or tenant.
(b) Promote the interests of the buyer or tenant including:
(1) Seeking real estate at a price and terms specified by the buyer or tenant except that the licensee is not obligated to seek other real estate for the buyer or tenant while the buyer or tenant is a party to a contract to purchase, exchange, rent, or lease that real estate unless the brokerage agreement so provides.
(2) Presenting in a timely manner all offers to and from the buyer or tenant on real estate of interest.
(3) Accounting in a timely manner, during and upon termination, expiration, completion, or performance of the brokerage agreement for all money and property received in which the buyer or tenant has or may have an interest.
(4) Informing the buyer or tenant of the laws and rules regarding real estate condition disclosures.
(c) Preserve confidential information received from the buyer or tenant that is acquired during a brokerage agreement. This obligation continues beyond the termination, expiration, completion, or performance of the fiduciary relationship. Confidentiality shall be maintained unless:
(1) The buyer or tenant to whom the information pertains grants written consent to disclose the information;
(2) The information is made public from a source other than the licensee;
(3) Disclosure is necessary to defend the licensee against an accusation of wrongful conduct in a judicial proceeding before a court of competent jurisdiction, the commission, or before a professional committee; or
(4) If otherwise required by law.
(d) Be able to introduce the same real estate to other prospective buyers or tenants without breaching any fiduciary duty to the buyer or tenant.
(e) Disclose to a prospective buyer or tenant any material physical, regulatory, mechanical, or on-site environmental condition affecting the subject property of which the licensee has actual knowledge. Such disclosure shall occur at any time prior to the time the buyer or tenant makes a written offer to purchase or lease the subject property. This subparagraph shall not create an affirmative obligation on the part of the licensee to investigate material defects.
II. The duties of a licensee acting on behalf of a buyer or tenant to a seller or landlord include:
(a) Treating all prospective sellers or landlords honestly.
(b) The ability to provide assistance to the seller or landlord by performing ministerial acts such as showing property, preparing offers or agreements, and conveying those offers or agreements to the buyer or tenant and providing information and assistance concerning professional services not related to the real estate brokerage services. Performing ministerial acts for the seller or landlord shall not be construed as violating the brokerage agreement with the buyer or tenant, provided that agency disclosure has been given in writing to the seller or landlord. Performing ministerial acts for the seller or landlord shall not be construed as forming an agency relationship with the seller or landlord.
Source. 1996, 196:9. 2008, 12:6, eff. Jan. 1, 2009.