Licensee Duties and Disclosures to the Public
Area III is published as a range — 9 to 11 of the 60 broker items — and is carried here at its midpoint of 10. Its printed subtopics are licensee relationships; conflict of interest; compensation; and property disclosure, which is itself split into the Residential Real Property Transfer Disclosure and the Common Interest Ownership Act (resale certificates and public offering statements).
Licensee relationships
AS 08.88.600 – 08.88.695 replaced Alaska's common law of real estate agency, which AS 08.88.675 expressly abrogates to the extent it conflicts. A licensee serving one party represents only that party unless the parties agree otherwise in writing. AS 08.88.615 lists the duties owed to everyone the licensee gives specific assistance: reasonable skill and care, honesty and good faith, timely presentation of written communications, disclosure of known material information about physical condition, timely accounting, delivery of the commission's Consumer Disclosure pamphlet before specific assistance begins (12 AAC 64.118), a signed relationship disclosure before specific assistance begins, and — when the person signs an offer — a written statement of whom the licensee represents, in a separate paragraph or document entitled "Licensee Relationships." A neutral licensee assists both sides without representing either; the written consent must be on the commission's separate form entitled "Waiver of Right To Be Represented" (AS 08.88.610(c), 12 AAC 64.119). Note that AS 08.88.396, the older disclosure section still printed in the statute book, applies only to acts occurring before January 1, 2005.
Conflict of interest and compensation
AS 08.88.391 requires a licensee with a conflict of interest to tell the adversely affected person verbally and confirm it in writing as soon as possible, and the written statement must begin with the words "Disclosure of Conflict of Interest." underlined and in bold. Conflicts include a present ownership or leasehold interest, a business interest in the property, representing a relative or someone with whom the licensee has a financial relationship, receiving compensation from someone who is not a party to the contract, and being paid for community association management while managing a unit inside the association. Failure to disclose gives no private cause of action but is disciplinable. On compensation, AS 08.88.655 lets a broker be paid by any party or a third party and provides that payment alone creates no relationship, while 12 AAC 64.940 requires a broker to disclose to the broker's own principal, in writing, the dollar amount or percentage of any rebate, compensation or fee paid to another broker — when the listing contract is signed and again when the settlement statement is signed.
Property disclosure
AS 34.70.010 requires the seller of residential real property to deliver a completed written disclosure statement before the buyer makes a written offer; the commission adopts the form by reference in 12 AAC 64.930 (08-4229, Rev. 05/2024), along with the first-sale exemption and the waiver-by-agreement forms. If the statement or a material amendment arrives after the written offer, AS 34.70.020 lets the buyer terminate within three days of personal delivery or six days of mailing. A negligent violation exposes the seller to actual damages; a willful one, to up to three times actual damages plus costs and fees. Separately, AS 08.88.615(b)(2) imposes no general duty to disclose events that occurred on a property, but AS 08.88.615(c) requires disclosure of a known murder or suicide that occurred within one year before the licensee first showed the property. In common interest communities, AS 34.08.590 requires the resale certificate and governing documents before the contract or conveyance, with the association furnishing the certificate within 10 days of a written request and a reasonable fee; and AS 34.08.580 lets a purchaser who received the public offering statement 15 days or fewer before signing cancel within 15 days of receipt.
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State-specific details
State exam facts
- State regulator
- Alaska Real Estate Commission (Division of Corporations, Business and Professional Licensing)
- Exam vendor
- Pearson VUE
- Prelicensing education
- 30 hours of Alaska broker training education
- Passing score
- Scaled score of 75
- Scored questions
- 140
- Time limit
- 240 minutes
Who regulates real estate brokers in Alaska?
The Alaska Real Estate Commission, within the Division of Corporations, Business and Professional Licensing, licenses real estate brokers, associate brokers, and salespersons. The Commission contracts with Pearson VUE to develop, administer, and score both the national and the Alaska state law portions of the licensing exam.
What experience do I need before the Alaska broker exam?
Alaska broker applicants must be at least 22 years old (12 AAC 64.059) and must have had at least 36 months of active and continuous experience as a real estate licensee within the 60 months immediately preceding application (AS 08.88.171(a)). "Active and continuous" is defined in 12 AAC 64.990(a) as holding a current active license with no single break of more than 30 days caused by failing to affiliate with an employing broker and file the application — so it is not quite the same as 36 unbroken months. Applicants must also complete 30 hours of commission-approved broker training education within the 18 months immediately preceding application, and file the license application within six months of passing the exam.
How is the Alaska broker exam structured?
The Alaska broker exam is one four-hour session covering two portions: a national/general portion of 80 scored items plus 5 pretest items, and an Alaska state law portion of 60 scored items plus 5 to 10 pretest items. Results are reported as a scaled score from 0 to 100 and a scaled score of 75 is required to pass, so the number reported is neither the count nor the percentage of questions answered correctly.
Sources: https://www.commerce.alaska.gov/web/cbpl/professionallicensing/realestatecommission.aspx, https://www.pearsonvue.com/content/dam/VUE/vue/en/documents/publications/092200.pdf
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