§16-99-3
99-7
"Wall certificate" means a certificate of license issued by the commission to
a qualified person either as a salesperson or broker. [Eff 12/26/74; am and ren
§16-99-2, 4/27/81; am and comp 6/28/82; am and comp 3/3/84; am 9/29/86; am
and comp 11/3/90; comp 2/25/91; am and comp 5/21/01; am and comp 12/19/16]
(Auth: HRS §§467-4, 467-25.5) (Imp: HRS §§467-1.5, 467-7, 467-8, 467-11,
467-12, 467-14, 467-25.5)
§16-99-3 Conduct. (a) To fully protect the general public in its real estate
transactions, every licensee shall conduct business, including the licensee's own
personal real estate transactions, in accordance with this section.
(b) The licensee shall protect the public against fraud, misrepresentation,
or unethical practices in the real estate field. The licensee shall endeavor to
eliminate any practices in the community which could be damaging to the public or
to the dignity and integrity of the real estate profession. The licensee shall assist the
commission in its efforts to regulate the practices of brokers and salespersons in this
State.
(c) The licensee shall not be a party to the naming of a false
consideration in any document, unless it be the naming of an obviously nominal
consideration.
(d) The licensee shall recommend that title be examined, survey be
conducted, or legal counsel be obtained when the interest of either party requires it.
(e) The broker shall keep in special bank accounts, separated from the
broker's own funds, moneys coming into the broker's possession in trust for other
persons, such as escrow funds, trust funds, clients' moneys, rental deposits, rental
receipts, and other like items.
(f) The licensee, for the protection of all parties with whom the licensee
deals, shall see that financial obligations and commitments regarding real estate
transactions, including real property rental management agreements, are in writing,
express the exact agreements of the parties, and set forth essential terms and
conditions, and that copies of those agreements, at the time they are executed, are
placed in the hands of all parties involved.
When working with a seller in a "For Sale By Owner" or a "Courtesy to
Broker" situation, the licensee shall disclose who, if anyone, the licensee represents
and who will pay a commission, if any.
(g) The licensee shall not acquire, rent, lease, or exchange an interest in
or buy, rent, lease, or exchange for one's self, any member of the licensee's
immediate family or brokerage firm, or any entity in which the licensee has any
ownership interest, property listed with the licensee, licensee's brokerage firm, or
listed with any other brokerage firm or licensee without making the true position