Bill > HB139

This bill modifies Louisiana real estate regulations by expanding the potential sources of broker compensation and establishing new requirements for buyer agreements and property advertising. Specifically, the bill allows broker compensation to come from various sources including buyers, sellers, listing agents, and listing brokers, and clarifies that buyers cannot be forced to enter into a buyer agreement just to view properties. However, a buyer agreement becomes mandatory when a broker intends to submit an offer on a buyer's behalf and seek compensation. Additionally, the bill introduces a new advertising requirement that mandates residential real estate listings must accurately represent the property's terms, value, and services, and explicitly requires that buyer's brokerage fees be disclosed in all public advertisements. These changes aim to increase transparency in real estate transactions and provide more flexibility in how real estate professionals can be compensated while protecting potential buyers' interests by preventing unnecessary contractual barriers to property viewing.

Business and Industry

https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=HB139&sbi=y