(a)

1. (1)

   1. (A) In any real estate transaction in which a licensee is acting solely as agent for a seller or lessor, the licensee shall disclose to a potential buyer or lessee, or to the buyer's or lessee's licensed agent, the licensee's agency relationship with the seller or lessor.
   2. (B) Such disclosure shall be made in a timely manner under the particular circumstances so as to avoid, to the extent possible, eliciting or receiving from the prospective buyer or lessee information that would reasonably be expected to remain confidential and not disclosed to the seller or lessor, such as, for example, information concerning the real estate needs or motivations, negotiating strategies or tactics, or the financial situation of the potential buyer or lessee.
2. (2) When the disclosure is made to the licensed agent of the buyer or lessee, it is that licensee's duty to convey the disclosure to the buyer or lessee in a timely manner.

(b)

1. (1) In all cases, disclosure shall be in writing, but may initially be made orally and reduced to writing at a convenient time subject to the requirements of subsection (c) of this section.
2. (2) Evidence of the disclosure shall be maintained by the licensee.