Amends existing law to clarify provisions regarding the availability of real estate brokers and to remove provisions regarding broker and branch manager absences.
REAL ESTATE BROKERS -- Amends existing law to clarify provisions regarding the availability of real estate brokers and to remove provisions regarding broker and branch manager absences.
STATEMENT OF PURPOSE
The purpose of this proposed legislation is to eliminate a section of the code which requires a broker's physical presence in the office at certain intervals. Brokers are required to properly supervise their sales associates, regardless of their location. Technology advances have made it possible for brokers to supervise contracts electronically, the physical presence requirement created unnecessary restrictions for the business models of some brokerage companies. In order to protect the consumer in a real estate transaction, language was added to clarify the broker's responsibility to be reasonably available to answer questions and complaints
HOW THEY VOTED
House Third Reading
YEA (68)
NAY (0)
ABSENT / NOT VOTING (2)
Senate Third Reading
YEA (32)
NAY (0)
ABSENT / NOT VOTING (3)
LATEST ACTION
Reported Signed by Governor on March 11, 2020 Session Law Chapter 106 Effective: 07/01/2020