Idaho Real Estate Broker Exam — All Questions

Idaho's Real Estate Brokerage Representation Act requires a licensee to give a consumer the Agency Disclosure Brochure:

• a.Only after a purchase agreement is signed
• b.At the first substantial business contact, before eliciting or receiving confidential information✓
• c.Only if the consumer requests it in writing
• d.Within 10 days after closing

Idaho requires the licensee to provide the Agency Disclosure Brochure at the first substantial business contact, before the consumer shares confidential information. The brochure explains the possible relationships—seller agency, buyer agency, limited dual agency, and nonagency—so the consumer can make an informed choice about representation before negotiating.

Under Idaho law, when a brokerage represents both the buyer and the seller in the same transaction, it acts as a:

• a.Universal agent for both parties
• b.Subagent of the multiple listing service
• c.Limited dual agent, permitted only with written consent of both parties✓
• d.Nonagent facilitator that owes no duties to anyone

Idaho recognizes 'limited dual agency,' in which the brokerage represents both parties but with limited duties because it cannot fully advocate for either side. It is allowed only with the written consent of both the buyer and the seller, and the brokerage must not disclose one party's confidential information to the other. Idaho also allows assigning individual licensees to each party under a written consent framework.

In Idaho, unless a written agreement says otherwise, a licensee who works with a buyer without a representation agreement is generally treated as:

• a.A nonagent who still owes honesty and disclosure of adverse material facts✓
• b.A full fiduciary buyer's agent by default
• c.A dual agent for both parties automatically
• d.The seller's designated agent regardless of the facts

Under Idaho's brokerage-representation framework, representation is created by a written agreement. Without one, a licensee is generally a nonagent, but still owes duties of honesty, reasonable care, and disclosure of adverse material facts that the licensee knows. The written agency confirmation and disclosure brochure clarify the relationship so consumers are not misled.