Section 36-21A-136 - Duties and obligations of licensee representing buyer or tenantAny licensee representing a buyer or tenant has the following duties and obligations:
(1) To perform the terms of any written agreement made with the client;(2) To exercise reasonable skill and care for the client;(3) To promote the interest of the client with the utmost good faith, loyalty, and fidelity, including:(a) Seeking a price and terms which are acceptable to the client. However, the licensee is not obligated to seek other properties while the client is a party to a contract to purchase property or to a lease or letter of intent to lease;(b) Presenting all written offers to and from the client in a timely manner regardless of whether the client is already a party to a contract to purchase property or is already a party to a contract or a letter of intent to lease;(c) Disclosing to the client adverse material facts known by the licensee; and(d) Advising the client to obtain expert advice as to material matters about which the licensee knows but the specifics of which are beyond the expertise of the licensee;(4) To account in a timely manner for all money and property received; and(5) To comply with any applicable federal, state, and local laws, rules, regulations, and ordinances, including fair housing and civil rights statutes or regulations.