Real Estate Practice in Idaho
Idaho practice emphasizes written representation agreements, honest disclosure of property condition, and truthful advertising under the designated broker. This chapter covers written agreements, disclosure, and advertising.
Written Representation Agreements
Under the Brokerage Representation Act, the relationship between a brokerage and a represented client is established by a written agreement that identifies the type of representation and the duties owed. Written agreements reduce confusion about whether a consumer is a client or a customer. Because compensation alone does not create agency, the writing is what defines the relationship.
Disclosure of Property Condition
A licensee must disclose known material facts that affect the value or desirability of a property and must not help a seller conceal known defects. Idaho sellers commonly provide a property condition disclosure to the buyer. Accurate, honest disclosure protects the consumer and limits the licensee's exposure to misrepresentation claims.
Advertising Under the Designated Broker
Advertising must be truthful and must be conducted under the name and supervision of the brokerage and designated broker rather than the salesperson acting independently. False or misleading statements to induce a transaction are prohibited. The designated broker is accountable for the advertising of affiliated licensees and for record retention.