Bill > SB154

This bill amends Alabama's real estate laws to clarify and update definitions and requirements for real estate brokerage services. The legislation introduces more precise terminology around real estate transactions, defining terms like "agency agreement," "brokerage agreement," and distinguishing between clients, customers, and consumers. Key changes include requiring written disclosure forms that explain brokerage services and compensation methods before any confidential information is shared, mandating written brokerage agreements before listing or submitting property offers, and establishing clearer guidelines for dual agency relationships. The bill requires that licensees disclose the types of services they provide, including how they are compensated, and specifies that consumers cannot be forced to sign a written brokerage agreement just to view a property. The legislation also addresses referral fees and introduces more stringent requirements around how real estate professionals can refer clients and communicate about brokerage relationships. These changes aim to increase transparency, protect consumer interests, and provide clearer guidelines for real estate professionals in Alabama. The bill will become effective 30 days after its enactment.

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https://alison.legislature.state.al.us/bill-search