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The CIS must be delivered by the agent to a buyer or seller upon first contact, i.e., the first scheduled appointment or showing of the property, whichever is earlier. (unless the CIS has already been given to the buyer or seller by another agent in the transaction).
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Brokers and salespersons are now “independent contractors” and not fiduciaries.
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If a buyer refuses to sign the CIS, an agent can self-certify by indicating on his/her copy the date that it was provided to the buyer.
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On Page 6, Item #4 of the CIS form entitled “Relationship”, an agent should always check the second box when representing a seller or buyer so that the agent can show the property to one of his/her buyers when he/she is also representing the seller of that same property.
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No vicarious liability. In other words, a buyer or seller and his/her broker and designated agent are not responsible for the wrongful actions of the other unless they had actual knowledge of the wrongful act, omission or misrepresentation; however the person who was wrong is still responsible.
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If a buyer finds a “for sale by owner” property on his own while represented by an agent, the buyer may purchase the home without giving a commission to the agent unless the buyer and agent sign an additional agreement entitling the agent to a commission regardless of who finds the home.
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Notice given to an agent is considered notice given to that agent’s client. Notice given to anyone else in the agent’s office is not considered notice to that client.
