Section 5-20.6-3 - Relationships - creation and presumption(a) It shall be presumed that all licensees in a real estate transaction are transaction facilitators unless the licensee obtains the informed, written consent of a buyer, seller, tenant, or landlord with an executed mandatory relationship disclosure to represent that person as a designated client representative.(b) The provisions of this chapter are expressly intended to abrogate the common law of agency; no type of agency representation shall be assumed by a brokerage, principal broker, licensee, buyer, seller, tenant, or landlord nor shall agency representation be created by implication.(c)Types of relationships. The following types of relationships are recognized: (1) Assistance as a transaction facilitator to assist one or more customers; and(2) Representation of a buyer, seller, tenant, or landlord as a designated client representative.R.I. Gen. Laws § 5-20.6-3
Amended by 2014 Pub. Laws, ch. 528, § 2, eff. 12/31/2014.Amended by 2013 Pub. Laws, ch. 38, § 2, eff. 5/24/2013.Amended by 2013 Pub. Laws, ch. 27, § 2, eff. 5/24/2013.P.L. 1989, ch. 141, § 2; P.L. 1990, ch. 425, §2; P.L. 2007 , ch. 344, § 1; P.L. 2007 , ch. 403, § 1.