78841954.1-2133Virginia Decodedhttps://vacode.org2016Professions And OccupationsProfessions And Occupations Regulated By The Department Of Professional And Occupational Regulation And Boards Within The DepartmentReal Estate Brokers, Sales Persons And Rental Location AgentsDuties Of Real Estate Brokers And SalespersonsLicensees engaged by landlords to lease property1995, cc. 741, 813; 2006, c. 627; 2008, c. 741; 2011, cc. 34, 46, 461; 2012, c. 750; 2016, c. 334.http://law.lis.virginia.gov/vacode/54.1-2133/36-156.1Definitions/36-156.1//54.1-2133/54.1/II/21/3/54.1-213354.1-213054.1-2138.1A licensee engaged by a landlord shall:sectionAA1 Perform in accordance with the terms of the brokerage agreement;sectionA1A12 Promote the interests of the landlord by:
sectionA2A22 Conducting marketing activities on behalf of the landlord pursuant to the brokerage agreement with the landlord. In so doing, the licensee shall seek a tenant at the rent and terms agreed in the brokerage agreement or at a rent and terms acceptable to the landlord; however, the licensee shall not be obligated to seek additional offers to lease the property while the property is subject to a lease or a letter of intent to lease under which the tenant has not yet taken possession, unless agreed as part of the brokerage agreement, or unless the lease or the letter of intent to lease so provides;sectionA2aA2a3 Assisting the landlord in drafting and negotiating leases and letters of intent to lease, and presenting in a timely manner all written leasing offers or counteroffers to and from the landlord and tenant pursuant to § 54.1-2101.1, even when the property is already subject to a lease or a letter of intent to lease; andsectionA2bA2b3 Providing reasonable assistance to the landlord to finalize the lease agreement;sectionA2cA2c3 Maintain confidentiality of all personal and financial information received from the client during the brokerage relationship and any other information that the client requests during the brokerage relationship be maintained confidential, unless otherwise provided by law or the landlord consents in writing to the release of such information;sectionA3A32 Exercise ordinary care;sectionA4A42 Account in a timely manner for all money and property received by the licensee in which the landlord has or may have an interest;sectionA5A52 Disclose to the landlord material facts related to the property or concerning the transaction of which the licensee has actual knowledge; andsectionA6A62 Comply with all requirements of this article, fair housing statutes and regulations for residential real estate transactions as applicable, and all other applicable statutes and regulations which are not in conflict with this article.sectionA7A72A licensee engaged by a landlord does not breach any duty or obligation owed to the landlord by showing alternative properties to prospective tenants, whether as clients or customers, or by representing other landlords who have other properties for lease.sectionDD1Licensees in residential real estate transactions shall disclose brokerage relationships pursuant to the provisions of this article.sectionEE1