Creates requirements for certain long-term real estate listing contracts.
This bill establishes rules for "right-to-list home sale agreements," where property owners grant real estate brokers exclusive rights to list their homes for sale at a future date in exchange for payment. It prohibits such agreements from lasting longer than five years and requires contracts to include an early termination option: owners can end the agreement early by paying the initial price plus 6% of that amount for each year the contract has been active (compounded annually). The bill applies directly to real estate brokers, salespeople, and broker-salespeople who enter these contracts with property owners. Contracts must clearly state the term and termination terms to comply with the law.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2024
Last action Jan 9, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
1
Key actions
0
Committee
0
Jan 9, 2024
Introduced
Introduced in the Assembly, Referred to Assembly Consumer Affairs Committee
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Aura Dunn
RRepublican
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