Any licensee acting as a transaction broker has the following duties and obligations:

1. (1) To perform the terms of any written agreement made with the customer;
2. (2) To exercise reasonable skill and care for the customer;
3. (3) To present all offers in a timely manner;
4. (4) To account in a timely manner for all money and property received;
5. (5) To comply with any applicable federal, state, and local laws, rules, regulations, and ordinances including fair housing and civil rights statutes or regulations; and
6. (6) To disclose to the customer all adverse material facts known by the licensee. No licensee acting as a transaction broker may advise any party to a transaction to the detriment of another party.

Source: SL 1998, ch 229 , § 21.