(a) It shall be presumed that all licensees in a real estate transaction are transaction facilitators unless the licensee obtains the informed, written consent of a buyer, seller, tenant, or landlord with an executed mandatory relationship disclosure to represent that person as a designated client representative. (b) The provisions of this chapter are expressly intended to abrogate the common law of agency; no type of agency representation shall be assumed by a brokerage, principal broker, licensee, buyer, seller, tenant, or landlord nor shall agency representation be created by implication. (c) Types of relationships. The following types of relationships are recognized: (1) Assistance as a transaction facilitator to assist one or more customers; and (2) Representation of a buyer, seller, tenant, or landlord as a designated client representative.
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