Keiko is a licensed Hawaii real estate salesperson working under Broker Lani. Keiko meets a potential buyer, Marcus, at an open house and begins discussing the neighborhood, school districts, and Marcus's budget of $750,000. What is Keiko's obligation at this point under Hawaii law?
Correct Answer
A) Keiko must provide Marcus with the Hawaii agency disclosure form before continuing the conversation
Discussing a buyer's budget and property needs constitutes 'first substantive contact' under HAR Title 16, Chapter 99. At this moment, Keiko is required to provide the Hawaii agency disclosure form to Marcus before proceeding further. The open house setting does not exempt the licensee from this obligation once the conversation becomes substantive.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
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