Senate Banking and Insurance Hearing
Finance and Taxation at 10:30:00

SB154 would require real estate licensees to give consumers a written disclosure of brokerage services and compensation before showing a property, and to limit when a written brokerage agreement is required.
A consumer must receive a disclosure form before a licensee shows a property, describing brokerage services and how the licensee is paid. After disclosure, the consumer can choose to enter into a brokerage agreement, but a written agreement is not required just to view a property. A written brokerage agreement is required only if the licensee will list the property for sale or submit an offer on behalf of the consumer, and it must state the terms of compensation for the licensee and company. The bill also requires referral agreements between licensees to be in writing and mandates uniform disclosure forms for all Alabama real estate firms; it takes effect 30 days after enactment.
Currently Indefinitely Postponed
Read for the Second Time and placed on the Calendar
Reported Out of Committee House of Origin
Pending Senate Banking and Insurance
Read for the first time and referred to the Senate Committee on Banking and Insurance
Finance and Taxation at 10:30:00
Source: Alabama Legislature