Occupations: real estate; waiver of services in limited service agreement; modify. Amends sec. 2512d of 1980 PA 299 (MCL 339.2512d). TIE BAR WITH: HB 5227'25, HB 5228'25

HB 5229 amends Michigan's real estate licensing law to allow sellers or lessors to waive specific brokerage services through a "limited service agreement." It directly affects real estate brokers and their clients (sellers/lessors) by permitting them to opt out of certain duties listed in the current law, such as marketing property (subsection 3a), handling offers (3b), and negotiation assistance (3c). The bill maintains core obligations like loyalty, confidentiality, and timely accounting but adds a formal waiver mechanism for select services. This change aims to provide flexibility for clients who want simplified brokerage arrangements while prohibiting brokers from misleading the public by advertising "for sale by owner" when represented. The bill is currently pending in committee and has not been enacted.