Bill > H0477

This bill amends existing Idaho law regarding the oversight of real estate associates with respect to brokerage representation agreements and certain other documents. The key provisions include: 1) Requiring real estate brokerage representation agreements (whether with a buyer or seller) to be in writing and contain specific contract provisions, such as beginning and expiration dates, property description, price and terms, and signatures. 2) Requiring a sales associate who obtains a signed brokerage representation agreement to provide a copy to the designated broker or broker's office by the end of the next business day. 3) Requiring a broker or sales associate to promptly provide true and legible copies of any signed document, such as a purchase and sale agreement, counter offer, or addendum, to both the buyer and the seller. 4) Specifying the required contents of an offer to purchase real property, such as the terms and conditions, earnest money details, broker information, and required disclosures.

Business and Industry, Justice

Business Committee (House)

https://legislature.idaho.gov/sessioninfo/2020/legislation/H0477/