Terms Used In Iowa Code 543B.63
- Client: means a party to a transaction who has an agency agreement with a broker for brokerage services. See Iowa Code 543B.5
- Licensee: means a broker or a salesperson licensed pursuant to this chapter. See Iowa Code 543B.5
- Listing: is a n agreement between a property owner and another person in which that person holds or advertises the property to the public as being available for sale or lease. See Iowa Code 543B.5
A licensee is not considered to be a subagent of a client of another licensee solely by reason of membership or other affiliation by the licensee in a multiple listing service or other similar information source, and an offer of subagency shall not be made through a multiple listing service or other similar information source.