Agency

The real estate profession has become increasingly based in legalities. While a handshake can signify an agreement, the contract is the foundation of the real estate transaction today.

With the increased focus on legal issues, NVAR provides members services in the legal arena. Various articles on current and hot legal topics are provided through the weekly NVAR Online News. In addition, the Legal Information Line is available to members.

There are many real estate related questions that arise often. These FAQs (Frequently Asked Questions) by topic are provided to assist you in finding quick answers.

Agency

Q: Do I have to give a tenant a Duties Owed form since the landlord's agent really has the tenant fill out the lease agreement?

A:  Yes! If you will receive a commission for bringing the client to the transaction and/or have shown the tenant the property being rented, you must give the tenant a Duties Owed form.

The language in NRS 645.252 is the same as that on the Duties Owed form. An agent who introduces the tenant to a property is that tenant's agent.  Furthermore, on the Duties Owed form itself, in the acknowledgement of receipt of a copy of the duties owed, there is a signature line for "Buyer/Tenant".

The Real Estate Division in a published Position Statement regarding the Duties Owed states:

  • The Duties Owed form is not a contract. It is a disclosure of the existence of a relationship between the client and the licensee as agent and of the duties the licensee owes all parties to a real estate transaction.

If you represent a landlord and a tenant is unrepresented, you must provide the Duties Owed form to that tenant at the time he/she becomes a party to a real estate transaction. That means the point that the tenant fills out a lease agreement.