(1) The agency relationships set forth in this chapter commence at the time that the licensee undertakes to provide real estate brokerage services to a principal and continue until the earliest of the following:

     (a) Completion of performance by the licensee;

     (b) Expiration of the term agreed upon by the parties; or

     (c) Termination of the relationship by mutual agreement of the parties; or

     (d) Termination of the relationship by notice from either party to the other. However, such a termination does not affect the contractual rights of either party.

(2) Except as otherwise agreed to in writing, a licensee owes no further duty after termination of the agency relationship, other than the duties of:

     (a) Accounting for all moneys and property received during the relationship; and