summary
Introduced
02/04/2026
02/04/2026
In Committee
02/06/2026
02/06/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Real Estate License Act of 2000. Requires a licensee representing a seller of residential real estate to share information on the property with any licensees representing prospective buyers, respond to inquiries from any licensees representing prospective buyers, make the property available for showing to prospective buyers, and, within one calendar day of the start date of any brokerage agreement authorizing the licensee to sell the client's property, publicly advertise or market the listed property for sale on an Internet platform or website accessible to the public and any real estate licensees representing prospective buyers unless the seller completes and signs a disclosure and opt-out form prescribed by the Department of Financial and Professional Regulation. Effective immediately.
AI Summary
This bill amends the Real Estate License Act of 2000 to establish new duties for real estate licensees representing sellers of residential properties. Specifically, a seller's agent must now share property information with any licensee representing a potential buyer, respond to inquiries from buyer's agents, and make the property available for showings. Furthermore, within one day of signing a brokerage agreement, the seller's agent must publicly advertise or market the property online unless the seller signs a specific disclosure and opt-out form, which acknowledges that withholding the property from public marketing may reduce buyer awareness, limit online visibility, obscure sale terms, and potentially lead to fewer offers or a less favorable sale price. The Department of Financial and Professional Regulation will prescribe the exact wording for this disclosure form.
Sponsors (1)
Last Action
Referred to Rules Committee (on 02/06/2026)
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