BrokerageIndustry News

Idaho considers minimum-service real estate bill

Justice Dept. notified about proposed legislation

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

The Idaho Real Estate Commission is considering a legislative proposal that would set a new level of required services for real estate brokers and could expose the state to an antitrust lawsuit. The draft legislation, if approved, would require all real estate brokerages in the state to prepare, receive and present and write all written offers and counteroffers for their customers, and to answer customers' questions relating to offers and counteroffers received or presented in the transaction. According to language in the proposal, "antitrust litigation could result" and "legal costs cannot be predicted." Kimberly Costers, legal counsel to the Idaho Real Estate Commission, said the commission has not yet formally introduced the legislation. The commission has submitted a copy of the proposal to the U.S. Department of Justice to review, as the federal agency has objected to similar legislation in other states. While the Justice Department has not threatened a lawsuit, Costers said the...