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​The purpose of the Duties Owed form is to make the buyer or seller aware of obligations owed by a real estate licensee to all parties involved in the transaction. A Nevada licensee who has entered into a brokerage agreement to represent a client in a real estate transaction shall:

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1. Exercise reasonable skill and care to carry out the terms of the brokerage agreement and the licensee’s duties in the brokerage agreement;

2. Not disclose, except to the licensee’s broker, confidential information relating to a client for 1 year after the revocation or termination of the brokerage agreement, unless licensee is required to do so by court order or the client gives written permission;

3. Seek a sale, purchase, option, rental or lease of real property at the price and terms stated in the brokerage agreement or at a price acceptable to the client;

4. Present all offers made to or by the client as soon as practicable, unless the client chooses to waive the duty of the licensee to present all offers and signs a waiver of the duty on a form prescribed by the Division;

5. Disclose to the client material facts of which the licensee has knowledge concerning the real estate transaction;

6. Advise the client to obtain advice from an expert relating to matters which are beyond the expertise of the licensee; and

7. Account to the client for all money and property the licensee receives in which the client may have an interest.