193E—11.7(543B) New construction. A contract with a builder to construct or attach personal property or other type of structure to land and thereby produce an improvement to real estate is a real estate transaction. A licensee makes written disclosure revealing that the licensee and the licensee’s broker or brokerage firm will receive a commission, compensation, or valuable consideration for its efforts in the transaction, as obligated by paragraph 11.3(6)“d.” Written disclosure is necessary regardless of the type of representation provided by the licensee or if the licensee provides no representation.
[ARC 7773C, IAB 4/17/24, effective 5/22/24]