South Dakota Real Estate Relationships Disclosure
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To better and more professionally serve the parties to a real estate transaction, the State of South Dakota enacted the Brokerage Relationship Act effective January 1, 1999. That law requires South Dakota Real Estate Brokers to develop and maintain a written office policy the sets forth agency and brokerage relationships the broker is offering to that person and must allow a party the right to choose or refuse among the various real estate relationships. As a result, various agency relationships permissible under South Dakota law must be explained as options.
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| Based on that law, Raben Real Estate will offer options to Buyers, Sellers, Tenants, and Landlords. The following real estate relationships are permissible under South Dakota law and are offered by Raben Real Estate. |
SINGLE AGENT-SELLER'S/LANDLORD'S AGENT: |
AGENT ACTS AS ADVOCATE FOR & NEGOTIATES ON BEHALF OF SELLER (The Client) |
| Works on behalf of the seller/landlord and owes duties to the seller/landlord which include good faith, loyalty, and fidelity. The agent will negotiate on behalf of and act as an advocate for the seller/landlord. The agent may not disclose confidential information without express authority of the seller or landlord. |
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SINGLE AGENT-BUYER'S/TENANT'S AGENT: |
AGENT ACTS AS ADVOCATE FOR & NEGOTIATES ON BEHALF OF BUYER (The Client) |
| Works on behalf of the buyer/tenant and owwes duties to the buyer/tenant which include good faith, loyalty, and fidelity. The agent will negotiate on behalf of and act as an advocate for the buyer/tenant. The agent may not disclose confidential information without express authority of the buyer or tenant. |
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DISCLOSED LIMITED AGENT: |
AGENT WORKS TO PUT THE TRANSACTION TOGETHER WITHOUT ADVOCATING OR NEGOTIATIING FOR EITHER PARTY (The Clients) |
| Works on behalf of more than one client to a transaction, requiring written consent of the clients before doing so. A Limited agent may not disclose confidential information about one client to another without written permission releasing that information. While working to put the transaction together, agents in a limited agency transaction cannot negotiate nor advocate solelly on behalf of either the seller or buyer. A limited agent may not be able to continue to provide other fiduciary services previously provided to the client. |
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TRANSACTION BROKER: |
AGENT SERVES AS A NEUTRAL PARTY & ONLY FACILITATES THE TRANSACTION |
| Exercises reasonable skill and care in assisting one or more parties with a real estate transaction without being an advocate for any party. Although the transaction broker will help facilitate the transaction, the licensee will serve as a neutral party, offering no client-level services (such as negotiation) to the customer. The transaction broker may not disclose confidential information about a party to another without written permission releasing that information. |
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Duties of a buyer, tenant, landlord or seller: |
The duties of the real estate licensees in a real estatee transaction do not relieve a party to a transaction from the responsibility to protect the party's own interests. Persons should caarefully read all documents to ensure that they adequately express their understanding of the transaction. If legal or tax advice is desired, consult a competent professional in that field.
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All real estate licensees must provide disclosure of all actually-known adverse material facts about the subject property or a paarty's ability to perform its obligations.
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South Dakota law requires a written agreement which sets forth the duties and obligations of the parties as described in the broker relationships itemized above.
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The office policy of Raben Real Estate is to offer those services shown above.
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Email request form  or call toll free! |
Raben Real Estate
302 Main Street
Rapid City, SD 57701
1-605-342-7272  Toll Free: 1-888-341-7272
Fax: 1-605-343-8900 |
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