Disclose Amounts Payable To Real Estate Brokers
| Type | Bill |
|---|---|
| Session | 2017 Regular Session |
| Subjects |
Concerning transparency in the fees to be paid to the parties' agents in a real estate transaction.
Bill Summary:
The bill requires that, in any sale or lease of real estate, the amounts payable to anyone acting as a broker in the transaction (e.g., buyer's agent, seller's agent, transaction-broker) be disclosed in writing, either as part of the contract or otherwise, and accounted for. If the amount payable is allocated between the parties, the portion for which each party is responsible must be separately stated.
Brokers are required to disclose their fees or the basis for calculating their fees on all marketing materials relating to any specific property, including on-line multiple listing services.
(Note: This summary applies to this bill as introduced.)
Prime Sponsors
Representative
Paul Rosenthal
Committees
Related Documents & Information
| Date | Version | Documents |
|---|---|---|
| 04/24/2017 | Introduced |
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 17-1358 to the Committee of the Whole. | The motion failed on a vote of 2-11. | Vote summary |
| Postpone House Bill 17-1358 indefinitely. | The motion passed on a vote of 12-1. | Vote summary |
| Date | Location | Action |
|---|---|---|
| 04/27/2017 | House | House Committee on Business Affairs and Labor Postpone Indefinitely |
| 04/24/2017 | House | Introduced In House - Assigned to Business Affairs and Labor |