HF 2552: Relating to real estate brokers and brokerage agreements

What it does

This bill relates to real estate brokers and brokerage agreements. The bill includes in the current definition of a real estate broker a person acting for another for a fee, commission, or other compensation or promise who prepares buyer’s representation agreements, including any modifications, amendments, or addendums. “Buyer’s representation agreement” is defined by the bill. The bill requires a licensee, when providing brokerage services to a client, to treat all parties to a transaction with honesty and good faith, disclose to each party all material adverse facts as laid out in the bill, and to account for all property coming into the possession of the licensee that belongs to any party within a reasonable time.

House subcommittee · named January 30, 2024

• Rep. Charley Thomson (R) · charley.thomson@legis.iowa.gov
• Rep. Dave Deyoe (R)
• Rep. Kenan Judge (D) · kenan.judge@legis.iowa.gov

Lobbying · 1 for, 0 against

For: Iowa Association of Realtors

In plain words

1. January 30, 2024Filed in the House and sent to the Commerce committee · as HSB 639
2. January 30, 2024House subcommittee named: Thomson, C., Deyoe and Judge · as HSB 639
3. February 1, 2024Subcommittee recommended passing it · as HSB 639
4. February 13, 2024Approved by the House committee · as HSB 639
5. February 15, 2024Filed in the House
6. February 15, 2024Approved by the House committee, and given a new number: HF 2552 · as HSB 639
7. February 27, 2024Withdrawn