Sec. 08.88.695. Definitions for AS 08.88.600 — 08.88.695.

435 words·~2 min read·/ak/title-8/chapter-88/08-88-695

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

In AS 08.88.600 — 08.88.695,

(1)“compensation” includes a commission;

(2)“confidential information” means information from or concerning a person that

(A)the licensee acquired during the course of the licensee's relationship as a licensee with the person;

(B)the person reasonably expects to be kept confidential;

(C)the person has not disclosed or authorized to be disclosed to a third party;

(D)would, if disclosed, operate to the detriment of the person; and

(E)the person is not obligated to disclose to the other party in a real estate transaction;

(3)“designated licensee” means

(A)a real estate licensee who works for a real estate broker and represents or provides specific assistance to a person in a real estate transaction when another licensee who is working for the same broker represents or provides specific assistance to an unrepresented person in the same transaction; or

(B)a real estate broker who represents or provides specific assistance to a person in a real estate transaction when another licensee who is working for the broker represents or provides specific assistance to another person in the same transaction;

(4)“neutral licensee” means a real estate licensee who

(A)provides specific assistance to both the buyer and the seller, or both the lessor and the lessee, in a real estate transaction; and

(B)does not represent either party;

(5)“personal services contract” includes a listing, a fee agreement between brokers and sellers, buyers, lessors, or lessees, a management contract with property owners, or any other agreement by which a broker agrees to perform a duty with respect to real estate for an agreed upon fee or commission;

(6)“real estate services” means services related to a real estate transaction;

(7)“represent” means to provide real estate services to a person if the services are not limited to specific assistance;

(8)“specific assistance”

(A)means

(i)asking questions regarding confidential information for a real estate transaction;

(ii)showing pieces of real estate selected for a buyer's or lessee's specific needs or desires;

(iii)preparing a written offer for a real estate transaction; or

(iv)entering into a personal services contract;

(B)does not include

(i)hosting an open house;

(ii)casual conversation regarding real estate;

(iii)receiving calls or electronic inquiries from the licensee's signs, advertisements, or Internet site;

(iv)providing information regarding a piece of real estate;

(v)setting an initial appointment to show a piece of real estate;

(vi)receiving unsolicited information from a buyer or lessee before or after disclosure of a real estate relationship.

Article 6. General Provisions.