Section 339.22317. Licensee buying or acquiring interest in property; commission; consent by seller.

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A licensee who buys or acquires an interest in property, directly or indirectly, and who is due a commission, fee, or other valuable consideration as a result of the sale shall comply with all of the following provisions before compensation is received:

(a)         Disclose, in writing, to the seller or owner that the licensee will be compensated for the sale.

(b)     Obtain the written permission from the seller or owner to receive the specified consideration.

(c)     Provide written proof of compliance upon request by the department.

History: 1991 AACS; 2002 AACS.

                    
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