P.R. Laws tit. 20, § 3054
The following specific acts or practices are hereby proscribed:
(a) Every person subject to the provisions of this chapter is hereby forbidden to incur or induce another person to incur any of the acts or practices listed below:
(1) Act in representation of more than one party in a transaction, without the express consent of all parties.
(2) Unduly withhold any document or amount of money from the parties.
(3) Offer a property for sale without the owner’s consent.
(4) Deposit one party’s funds in a real estate transaction together with his/her own funds.
(5) Refuse to produce information required by an agency or a state or federal court that is not protected by evidentiary privilege.
(6) Use only a telephone number or address in any advertisement or promotional medium, without indicating the name and the operating license number of the broker or company in question [sic].
(7) Use information obtained in the course of his/her efforts as a broker or salesperson, to directly or indirectly acquire a property without the consent of the parties that provided the information.
(8) Fail to furnish to the parties all the information and all documents required by the applicable laws and regulations needed therefor, at the moment a real estate transaction is executed.
(9) Execute an exclusive or semi-exclusive brokerage contract with any party without explaining the terms and conditions thereof and its expiration date; Provided, That automatic renewal clauses in brokerage contracts shall not be permitted.
(10) Charge a commission to more than one party in a transaction, unless the parties agree to it.
(11) Withhold any deposit when the transaction or deal subject to such deposit has not been executed, through no fault of the buyer.
(12) Fail to display the license issued by the Board publicly, in the workplace.
(13) In the case of salespersons, to represent another broker or company other than that for which he/she renders services as an employee or independent contractor, without the consent of said broker[age] company.
(14) In the case of salespersons, to accept a commission for services rendered from a person who is not the broker or company for which he/she works, without the consent of the parties and of the broker or company for which he/she works.
(15) Discriminate against any of the parties to a real estate transaction because of race, religion, sex, physical or mental disability, family status or national origin.
(16) Prior to the granting of a brokerage contract or net listing, not have advised the client adequately on the scope of the transaction and the convenience of using the services of a professional appraiser.
(17) Deliberately conceal essential information on the condition of a property, with the purpose of inducing one of the parties to conclude the transaction in certain terms that if he had been aware of them, would not have completed the transaction or [would have] paid a lower price.
(18) Not presenting in a diligent manner, or retain or delay any offer on a property, in order to benefit another person, or the broker, salesperson, or a real estate enterprise.
(19) Use the funds deposited by the clients as part of a real estate transaction, for personal benefit and without written authorization.
(20) Improperly inform the client that he holds a deposit to secure a real estate transaction, when in fact, it does not exist.
(21) Induce a party in a real estate transaction to rescind a valid contract to make a new one in order to benefit the broker, salesperson, or a real estate enterprise.
(22) The failure to notify and advise the owner prior to the signing of the brokerage contract and the prospective buyer prior to the execution of a written purchase option or purchase and sale contract and as a part thereof, on the need and convenience of having an expert, duly certified by the Commonwealth of Puerto Rico, perform a physical inspection of the real property as a part of the real estate transaction. The owner or prospective buyer shall certify with his/her signature that he/she has received the broker’s advice.
History —Apr. 26, 1994, No. 10, § 31; Oct. 6, 1998, No. 271, § 1; July 30, 1999, No. 172, § 8; May 16, 2006, No. 93, § 1.