Agency Relationships in Idaho
Idaho's Brokerage Representation Act sets out the relationships a brokerage may offer and requires an agency disclosure brochure early in the relationship. This chapter explains representation, disclosure, and limited dual agency.
The Brokerage Representation Act
Under Idaho's Brokerage Representation Act, a brokerage may work with a consumer as an agent, as a limited dual agent, or as a nonagent. The type of representation is established by written agreement, and compensation alone does not determine or create an agency relationship. The Act defines the duties owed to clients and the more limited duties owed to customers who are not represented.
The Agency Disclosure Brochure
Idaho requires a licensee to provide the consumer with an agency disclosure brochure at the first substantial business contact, before the consumer discloses confidential information. The brochure explains the available brokerage relationships so the consumer can make an informed choice. Timely delivery of the brochure is a core consumer-protection requirement.
Limited Dual Agency
A brokerage may represent both the buyer and the seller as a limited dual agent only with the informed written consent of both parties. In limited dual agency the brokerage may assign individual agents to each client, and the licensees must protect each party's confidential information and remain neutral on price and terms. Written consent is required because dual representation limits full advocacy.