SSB 3132: SSB 3132

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.

Senate subcommittee · named January 31, 2024

• Sen. Kerry Gruenhagen (R) · kerry.gruenhagen@legis.iowa.gov
• Sen. Mike Bousselot (R) · mike.bousselot@legis.iowa.gov
• Sen. Izaah Knox (D) · izaah.knox@legis.iowa.gov

Lobbying · 1 for, 0 against

For: Iowa Association of Realtors

In plain words

1. January 31, 2024Filed in the Senate and sent to the Commerce committee
2. January 31, 2024Senate subcommittee named: Gruenhagen, Bousselot and Knox
3. February 7, 2024Subcommittee recommended passing it
4. February 8, 2024Approved by the Senate committee, and given a new number: SF 2291