NAC645.637. Disclosure of relationship as agent or status as principal.

In each real estate transaction involving a licensee, as agent or principal, the licensee shall clearly disclose, in writing, to his or her client and to any party not represented by a licensee, the relationship of the licensee as the agent of his or her client or the status of the licensee as a principal. The disclosure must be made as soon as practicable, but not later than the date and time on which any written document is signed by the client or any party not represented by a licensee, or both. The prior disclosure must then be confirmed in a separate provision incorporated in or attached to that document and must be maintained by the real estate broker in his or her files relating to that transaction.

     (Added to NAC by Real Estate Div., 11-8-88, eff. 7-1-89; A by Real Estate Comm’n, 12-27-89; R186-99, 1-21-2000; R111-01, 12-17-2001; R123-06, 6-1-2006)