Bill > HB5229

This bill modifies the Michigan Occupational Code to clarify and update provisions related to real estate service agreements, specifically focusing on the duties and services that real estate brokers and salespersons must provide to their clients. The bill makes several technical changes, including replacing "purchaser" with "buyer" throughout the text and clarifying language around confidentiality and service provision. The bill allows sellers or lessors to waive certain services in a limited service agreement, such as presenting offers, negotiating, and assisting with transaction completion. It maintains the existing requirements that real estate professionals exercise reasonable care, show loyalty to their client's interests, comply with laws and regulations, and provide timely accounting of money and property. The bill also explicitly prohibits a real estate broker from advertising a property as "for sale by owner" when representing a seller. Importantly, the bill will only take effect if two related House Bills (HB 5228 and HB 5227) are also enacted into law, creating a legislative dependency to ensure comprehensive implementation of the proposed changes.

Government Affairs

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-5229