Washington’s real estate practice is grounded in a licensing framework: every broker must be licensed under RCW 18.85 and affiliated with a licensed brokerage that has a designated broker supervising the team; the Washington State Department of Licensing enforces these rules and oversees agency relationships typically established through written services agreements with the seller or buyer. (Page: N/A)
Brokers owe broad duties to all parties involved in a transaction, including applying a reasonable level of skill and care, dealing honestly, timely communication, and disclosure of known material facts; they must clearly disclose who they represent, and in limited dual agency they cannot favor one principal and must obtain written consent from both sides. (Page: N/A)
Compensation arrangements must be documented in a written services agreement and may be paid by the seller, the buyer, or a third party, including arrangements for sharing fees among firms; in short sales, disclosures clarify that a mortgage lender’s release of its interest does not automatically erase remaining debts or costs. (Page: N/A)