Introduced
by
To prohibit real estate brokers who have entered an "exclusive agency" listing agreement with a seller from accepting a commission unless the broker offers the traditional "full range" of services, including accepting and presenting all offers and counteroffers, and providing various types of assistance required to finalize a transaction. An exclusive agency agreement prohibits a seller from paying a commission to anyone except the broker, thereby assuring the broker that he will profit from his sales efforts. (A broker can share the commission with other brokers if the agreement specifies this.) The bill would make it unlawful to simultaneously enter an exclusive agency agreement and also to provide "unbundled" services (including certain internet-based marketing services) that are less than the full range of traditional services.
Referred to the Committee on Regulatory Reform
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.
The substitute passed by voice vote
Passed in the House 105 to 3 (details)
Referred to the Committee on Economic Development, Small Business, and Regulatory Reform
Reported without amendment
With the recommendation that the bill pass.
