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 House Bill 174 and Discount Real Estate Brokers, Part 1
By: Darin "Sid" Cameron, CRS
Tue, May 10th, 2005 11:45 pm

On May 5th the Missouri senate passed a bill that among other things specifies services that real estate brokers must perform. This is similar to a law passed in Illinois and several other states.

The bill reads:

Missouri: House Bill 174

"All exclusive brokerage agreements shall specify that the broker, through the broker or through one or more affiliated licensees, shall provide, at a minimum, the following services: Accepting delivery of and presenting to the client or customer offers and counteroffers to buy, sell, or lease the client's or customer's property or the property the client or customer seeks to purchase or lease; assisting the client or customer in developing, communicating, negotiating, and presenting offers, counteroffers, and notices that relate to the offers and the counteroffers until a lease or purchase agreement is signed and all contingencies are satisfied or waived; and answering the client's or customer's questions relating to the offers, counteroffers, notices, and contingencies. Nothing contained in this section shall prohibit the public from entering into written contracts with any broker which contain duties, obligations, or responsibilities which are in addition to those specified in this section."

As I've been surfing the internet, I've seen several postings from agents who work for discount brokers claiming that they are being unfairly punished by "traditional" real estate brokerages who want nothing more than to keep real estate commissions high.

As such, tomorrow I will give my perspective on the bill.

Thanks
Sid Cameron

History:
March 14 – House passed 156-0
May 5 – Senate passed 33-0

For a full version of the bill, go to:
http://www.house.state.mo.us/bills051/biltxt/truly/HB0174T.HTM

[ Next Article: House Bill 174 and Discount Real Estate Brokers, Part 2 ]
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Darin "Sid" Cameron spent 15 years working in the technology industry which in 1998 relocated him to St. Louis. In 2004 he took over web development tasks for Kimberly's real estate team and later became the full-time Marketing and Operations Director in 2005. In 2011 Sid launched two brokerages, The Realty Store, Inc. and Realty Referral Partners, Inc, while continuing to perform marketing and operations for Kimberly's team. Sid holds a real estate broker's license in Missouri, CRS certification and was the first CyberStar in the St. Louis area.
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