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DOCUSign Envelope IDS 5A8E46A6-A267-4CE8-AF8C-AEDOBCA3E58A
<br />CIVIL CODE SECTIONS 2079.24 (2079.16 APPEARS ON THE FRONT)
<br />2079.13 As used in Sections 2079.14 to 2079.24, inclusive, the following terms have the fallowing meanings: (a)'AgenP means a person acting under provisions of
<br />Title 9 (commencing with Section 2295) in a rest property transaction, and includes a person who is ficutsed as a real estate broker under Chapter 3 (commencing
<br />with Section 10130) of Part 1 of Division 4 ofthe Business and Professions Code, and under whose license a haling is executed wan offer to purchaseis obtained. (b)
<br />"Associate licensee' means a person who is licensed as areal estate broker or salespersonunder Chapters (cwnmenafg with Section 10130) of Part 1 Of Division 4
<br />of the Business and Professions Code and who is either licensed under a broker of has entered into a written contract with a broker to act as the broker's agent in
<br />connection with acts requiting a real estate license and to function under the broker's supervision in the capacity of an associate ficensee. The agent in the real
<br />property transaction beam responsiblity for his or her associate licensees who perform as agents of the agent. When an associate licensee owes a tl to an
<br />principal, or to any buyer orsellerwho is nota pdnapai In a real property transaction, that duty is equivalentlo the duty owed to that y
<br />associatelicenseefunctions. (c)'Buyermeans a transferee in a real propertytransacdion, and indudesa ertop purchase
<br />real property
<br />the
<br />a seller through an a person who exwn c vo offerto purchase real property from
<br />g gain, or who seeks the services of an agent in more than a casual, transitory. or preliminary manner, with the object of entering into a reel
<br />property transaction.'Buyee includes vendee or lessee. (d) "Commercial real property° means all real property in the state, except single-family residential real
<br />property, dwelling units made subject to Chapter2 (commencing with Section 1940) of Title 5, mobilehomes, as defined in Section 798.3, or recreational vehicles, as
<br />defined in Section 799.29. W'Dual agent' means an agent acting, either directly orthrough an aSiOciale licensee, as agent for boththe sellerand the buyer in a real
<br />property transaction (f) °Lisfing agreement means a contractbetween an owneraf real properlyand an agent, by which the agent has been authorizedto sell the real
<br />property or to find or obtain a buyer. (g) *Listing agent' means a person who has obtained a listing of reel property to act as an agent for compensation. (h) "Listing
<br />price' is the amount expressed in dollars specified in the listing for which the seller is wiling to sell the real property through the listing agent P)'O(fe sing price" is the
<br />amount expressed in dollars specified in an offer to purchase for which the buyer is wiling to buy the real property. (j)'Oger to purchase' means a written contract
<br />executed by a buyeracting through a selling agentthat becomes the contractfor the sale of the real property upon acceplanceby the seller, (k)'Real property means
<br />any estate specified by subdivision (1) or (2) of Section 761 in property that constitutes w is improved with one to four dwelling units, any commercial real property,
<br />any leasehold in these types of property exceeding one years duration, and mobilehomes, when offered for sale or sold through an agent pursuant to the authority
<br />contained in Section 10131.6 of the Business and Professions Code. (1)'Real property bansaction° means a transaction for the sale of teat property in which an agent
<br />Is employed by one or more of the principals to act in that transaction, and includes a listing or an offer to purchase. (in)'Sell,"sale; or -sold- refers to a transaction
<br />for the transfer of real property from the seller to the buyer, and includes exchanges of real property between the seller and buyer, transactions for the creation of a
<br />real property sales contractwithin the meaning of Section 2985, and transactions for the creation of a leasehold exceeding one year's duration. (n) "Seller means the
<br />transferor in a real property transaction, and includes an owner who lists reel property with an agent, whether or not a transfer results, or who receives an offer to
<br />purchase real property of which he or she is the owner from an agent on behalf of another. "Saler' includes both a vendor and a lessor. (o)'Selling agent' means a
<br />listing agent who acts alone, or an agent who acts in cooperation with a listing agent, and who sells or finds and obtains a buyer for the real property, Or an agent who
<br />locates property far a buyer or who finds a buyer for a property for which no listing exists and presents an offer to pumhaw to the sailer. (p) -Subagent" means a
<br />Person to whom an agent delegates agency powers as provided in Article 5 (commencing with Section 2349) of Chapter 1 of Title 9. However,'subagenr, was not
<br />include an associate licensee who is acting under the supervision of an again in a real property transaction.
<br />2079.14 Listing agents and selling agents shall provide the seller and buyer in a real property transaction with a copy of the disclosure form specified in Section
<br />2079. 16, and, except as provided in subdivision (c), shall obtain a signed acknowledgementof receipt from that seller Or buyer, except as provided in this section w
<br />Section 2070.1 S. as follows: (a) The listing agent, if any, shall provide the disclosure form to the seller prior to entering into the listing agreement. (b) The selling agent
<br />shall provide the disclosure form to the seller as soon as practicable prior to presenting the seller with an offer to purchase, unless the selling agent previously
<br />provided the seller with a copy of the disclosure to= pursuant to subdivision (a). (c) Mom the selling agent does not deal on a face-to-face basis with the saner, the
<br />disclosure farm prepared by the selling agent may be furnished to the salter (and aclnowledgement of receipt obtained for the selling agent from the seller) by the
<br />listing agent or the selling agent may deliver the disclosure form by certified mail addressed to the seller at his or her last known address, in which case no signed
<br />acknowledgement of receipt is required. (d) The selling agent shall provide the disclosure form to the buyer as soon as practicable prior to execution of the buyers
<br />offer to purchase, except that If the offer to purchase is not prepared by the selling agent, the selling agent shall present the disclosure form to the buyer not later than
<br />the neM business day after the selling agent receives the offer to purchase from the buyer.
<br />2079.16 in any circumstance in which the seller or buyer refuses to sign an acknowledgement of receipt pursuant to Section 2079.14, the agent, or an associate
<br />licenses acting for an agent, shall set forth, sign, and date a written decimation of the facts or the refusal.
<br />2079.16 Reproduced on Page 1 of this AD farts.
<br />2078.17 (a) As soon as practicabte,the selling agent shall dscloselo the buyer and sellerwhetherthe selling agent is soling in the reel property transactionexclusivefyas
<br />the buyer's agent, exausivelyas the setters agent, or as a dual agent representingboth the buyer and the seller. This retalionshipshali be confirmed in the contractto
<br />Purchase and sell real property or in a separatewrillngexecuted Or scknowledgedbythe seller, the buyer, and the selling agempriorto orcolnadomwith "notion of that
<br />contramby the buyerand the seller, mspectiveiy.(b) As soon as practkable,the Uslingegenlshalidisclose to the sellerwhetherthe Ustingagentis acting in the real property
<br />transadionexdusivelyas the seliersagent, or as a dual agent representingboth the buyer and seller. This relationshipshall be confimredin the contract to purchassand
<br />sell real property or in a separate writing executed or acknowledged by the seller and the listing agent prior to or coincident with the execution of that contract by the seller.
<br />(c) The confirmation required by subdivisions (a) and (b) shall be in the following form.
<br />(DO NOT COMPLETE. SAMPLE ONLY) is the agent of (check one): the seller exclusively; orQ both the buyer and seller.
<br />(Name of Listing Agent)
<br />(DO NOT COMPLETE SAMPLE ONLY) is the agent of (check one): ❑ the buyer exclusively; or[] the seller exclusively; or
<br />(Name of Selfing Agent if not the same as the Listing Agent) ❑ both the buyer and seller.
<br />(d) The disclosures and confirmation required by this section shall be in addition to the disclosure required by Section 2079.14,
<br />2079.16 No selling agent in areal property transaction may act as an agent for the buyer only, when the selling agent is also acting as the listing agent in the transaction.
<br />2078.19 The payment of compensation or the obligation to pay compensation to an agent by the seller or buyer is not necessarily determinative of a particular
<br />agency relationship between an agent and the seller Or buyer. A listing agent and a selling agent may agree to share any compensation or commission paid, or
<br />any right to any compensation Or commission for which an obligation arses as the result of a real estate transaction, and the terms of any such agreement shall
<br />not necessarily be determinative of a particular relationship.
<br />2079.2D Nothing in this article prevents an agent from selecting, as a condition of the agent's employment, a specific form of agency relationship not specifically
<br />prohibited by this article if the requirements of Section 2079.14 and Section 2079.17 are complied with.
<br />2079.21 A dual agent shall not disclose to the buyer that the seller is willing to sell the property at a price less than the listing price, without the express written consent
<br />of the seller. A dual agent shall not disclose to the seller that the buyer is willing to pay a price greater than the offering price, without the express written consent of the
<br />buyer, This section does not after in any way the duty or responsibility of a dual agent to any principal with respect t0 confidential information other than price.
<br />2079.22 Nothing in this article precludes a listing agent from also being a selling agent, and the combinalim of these functions In one agent does not, of itself,
<br />make that agent a dual agent.
<br />2079.23 A contract between the principal and agent may be modified or altered to change the agency relationship at any time before the performance of the act
<br />which is the object of the agency with the written consent of the parties to the agency relationship.
<br />2079.24 Nothing in this article shall be construed to either diminish the duty of disclosure owed buyers and sellers by agents and their associate licensees,
<br />subagents, and employees or to relieve agents and their associate licensees, subagents, and employees from liability for their conduct in connection with acts
<br />governed by this article or for any breach of a fiduciary duly or a duty of disclosure.
<br />r PtAsshedafMDesibutedby.
<br />s ESTATE BUSINESS Cifi SFAVICE6, INC
<br />a SuN.
<br />a subsWkry of Ne Caluomta Assprlalipn orREALTORSp Reweave Oete (
<br />� 5259oNh Vir9l pvenue,lAS Angeles, Califo�Na 90020
<br />AD REVISED 12114 (PAGE 2 OF 2)
<br />DISCLOSURE REGARDING REAL ESTATE AGENCY RELATIONSHIP (AD PAGE 2 OF 2)
<br />Pmdueedw1hzpFacu&byzip1a* 1eo7ortleen Mde Road,Fresaf,MKNgw4W26 dy_ Rwc fluath,H
<br />ATTYIAGR/2018.056/DOCKTOWIN BROKER AGREEMENT Page 2 of 11
<br />REV: 03-19-18 RL
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