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Committee hears hours of testimony on bill to limit buyer-agency agreements; author voluntarily defers bill
Summary
Representative Shane Mack’s House Bill 139 drew extensive committee and public testimony about buyer-broker agreements, advertising disclosures and recent national litigation. The committee adopted one technical amendment and the author voluntarily deferred the bill for further work after testimony from brokers, agents and consumers.
House Committee on Commerce members heard extensive testimony April 22 on House Bill 139, a proposal from Representative Shane Mack to limit when buyer-broker agreements are required and to require clearer information about buyer-agent compensation in real estate advertising.
Mack told the committee his bill would make clear “you don't have to sign a buyer's agreement before you view a piece of property,” and said the proposal is meant to increase transparency in listings and advertising. He said some buyer agreements can run multiple pages and include commission details that prospective purchasers do not read before a showing.
The bill drew sustained questioning from committee members about legal risk and the fallout from a recent national real estate class-action settlement. Representative Hebert, a broker with more than 20 years in the industry, urged caution, saying the settlement and related…
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