Tenn. Comp. R. & Regs. 1260-02-.11 - PERSONAL INTEREST
(1) No broker or
affiliate broker shall, either directly or indirectly through a third party,
purchase for himself or attempt to purchase or acquire any interest in or
option to purchase property listed with him or with his company, or property
regarding which he or his company has been approached by the owner to act as
broker, without first making a full disclosure of his true position to the
owner of the property or to any prospective purchaser for which he has acted
for as a client or customer. After acquiring any such personal interest, either
directly or indirectly, the broker or affiliate broker shall make a full
disclosure of his true position to prospective purchasers who tender offers to
buy the property.
(2) All licensees
shall identify themselves as a licensee when buying or selling property for
themselves.
Notes
Authority: T.C.A. ยง 62-1311.
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