NEW MINIMUMUM LEVEL OF SERVICES

FOR REAL ESTATE LICENSEES IN TENNESSEE

TENNESSEE AGENCY LAW HAS BEEN AMENDED AS FOLLOWS:

SECTION 1. Tennessee Code Annotated, Section 62-13-401, is amended by adding the following language at the end of the section:

The negotiation and execution of either an exclusive agency listing agreement

or an exclusive right to sell listing agreement with a prospective seller shall

establish an agency relationship with the seller.

SECTION 2. Tennessee Code Annotated, Section 62-13-404, is amended by adding the following language as a new subdivision thereto:

(3) Unless the following duties are specifically and individually waived, in

writing by a client, a licensee shall assist the client by:

(A) Scheduling all property showings on behalf of the client;

(B) Receiving all offers and counter offers and forwarding them promptly to

the client;

(C) Answering any questions that the client may have in negotiation of a

successful purchase agreement within the scope of the licensee's

expertise; and

(D) Advising the client as to whatever forms, procedures and steps are

needed after execution of the purchase agreement for a successful

closing of the transaction.

 Upon waiver of any of the above duties, a consumer must be advised in writing by

such consumer's agent that the consumer may not expect or seek assistance from

any other licensees in the transaction for the performance of the above.

The effective date of this Act is July, 1 2006.

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[ It is the goal of this legislation to insure that a Tennessee Licensed Agent is not forced into difficult situations or ethical conflicts where they are responsible for representing their client and the client of another agent who is an absentee.  The consumer will have full disclosure as to what is expected from their full service or minimal service licensed agent. ]