- A. Upon execution of any transaction document a licensee shall expeditiously deliver a legible copy of the signed document and final agreement to each party signing the document.
- B. During the term of a listing agreement, a licensee shall promptly submit to the licensee’s client all offers to purchase or lease the listed property. Upon receiving permission from the seller or lessor, the licensee acting on behalf of the seller or lessor may disclose to all offerors or their agents the existence and terms of all additional offers on the listed property. The licensee shall submit to the client all offers made prior to closing and is not released from this duty by the client’s acceptance of an offer unless the client instructs the licensee in writing to cease submitting offers or unless otherwise provided in the listing agreement, lease, or purchase contract. The licensee may voluntarily submit offers to the seller or lessor regardless of any limitations contained in the listing agreement and may submit offers after the listing agreement is terminated.
- C. Transaction statements. In addition to the requirements of A.R.S. §§ 32-2151.01 and 32-2174, the broker shall retain copies of all receipts and disbursements, copies of the executed and delivered escrow closing statements that evidence all receipts and disbursements in the transaction and any transaction documents signed by parties to the transaction or any disclosures made as part of the transaction.
Historical Note
Former Section R4-28-20 repealed, new Section R4-28-20 adopted effective May 1, 1980 (Supp. 80-3). Amended effective March 13, 1981 (Supp. 81-2). Former Section R4-28-20 renumbered without change as Section R4-28-802 (Supp. 87-1). Amended effective February 28, 1995 (Supp. 95-1). Section R4-28-802 amended by final rulemaking at 5 A.A.R. 650, effective February 3, 1999 (Supp. 99-1). Amended by final rulemaking at 8 A.A.R. 3640, effective August 6, 2002 (Supp. 02-3). Amended by final rulemaking at 31 A.A.R. 4267 (November 7, 2025), effective December 13, 2025 (Supp. 25-4).