Brokerage agreements: Duties of dealer; dealer prohibited from entering unless dealer determines client able to deliver good title.
1. A dealer who has entered into a brokerage agreement with a client for the sale or exchange of an interest in a manufactured home, mobile home or commercial coach shall:
(a) Seek the price and terms for the sale or exchange that are set forth in the brokerage agreement or are approved by the client;
(b) Present all offers made to or by the client as soon as practicable;
(c) Disclose to the client all the material facts known by him concerning the sale or exchange;
(d) Advise the client to obtain advice from an expert concerning any matters that are beyond the knowledge or expertise of the dealer;
(e) As soon as practicable, account for all money and property he receives in which the client may have a financial interest; and
(f) As soon as practicable, deliver to each party a copy of the executed contract for the sale or exchange.
2. A dealer shall not enter into a brokerage agreement with a client for the sale or exchange of an interest in a manufactured home, mobile home or commercial coach unless the dealer has determined that the client will be able to deliver good title upon the execution of the sale or exchange of the interest in the manufactured home, mobile home or commercial coach.
Last modified: February 25, 2006