Unless additional duties are agreed to in a written document signed by the person represented by the licensee, a real estate licensee who represents the person owes the person the following duties in addition to the other duties imposed by Alaska Stat. § 08.88.615:

(1) not taking action that the licensee knows is adverse or detrimental to the interest of the represented person in a real estate transaction;
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Terms Used In Alaska Statutes 08.88.620

  • action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
  • Contract: A legal written agreement that becomes binding when signed.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
  • Subpoena: A command to a witness to appear and give testimony.
  • writing: includes printing. See Alaska Statutes 01.10.060
(2) disclosure of a conflict of interest to the represented person in a timely manner;
(3) advising the represented person to obtain expert advice on a matter that relates to the real estate transaction that is beyond the licensee’s expertise;
(4) not disclosing confidential information from or about the represented person without written consent, except under a subpoena or another court order, even after termination of the licensee’s relationship with the represented person;
(5) if the represented person is a seller or a lessor, unless otherwise agreed to in writing, making a good faith and continuous effort to find a buyer or lessee for the real estate of the seller or lessor, except that a licensee is not required to seek additional offers to buy or lease the real estate while the real estate is subject to an existing contract for sale or lease; and
(6) if the represented party is a buyer or a lessee, unless otherwise agreed to in writing, making a good faith and continuous effort to find real estate for the buyer or lessee, except that a licensee is not obligated to

(A) seek additional real estate to buy or lease for the buyer or lessee while the buyer or lessee is a party to an existing contract to buy or lease real estate; or
(B) show to the buyer or lessee real estate for which there is not a written agreement to pay compensation to the licensee.
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