Bill > S10274

This bill, known as the "Fair and Transparent Real Estate Listings Act," aims to ensure that residential properties are advertised and marketed to the general public in a timely manner, promoting fair housing and market competition. It requires listing agents to share property information with other real estate licensees representing potential buyers and to make properties available for showings. Crucially, properties must be publicly advertised or marketed on platforms accessible to the general public and all licensed real estate professionals, such as multiple listing services (MLS) or widely accessible websites, unless the seller or landlord provides informed, written direction to do otherwise. This exception is only permitted after the seller or landlord receives a standardized state-issued disclosure form that clearly explains the risks and tradeoffs of withholding a listing from public marketing, such as reduced visibility, fewer offers, and potential negative impacts on sale price and timing. The bill also increases the maximum fine for certain real estate license violations from $2,000 to $5,000.