Technology

Real estate commission offer disclosure bill ‘postponed indefinitely’

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Homebuyers who view listings on property search sites never see the fees offered to buyer's brokers by those listings. A proposed Colorado bill might have changed that in the Centennial State, but a committee in the Colorado House of Representatives voted overwhelmingly to "indefinitely postpone" the legislation on Thursday. The bill was designed to introduce an unprecedented level of transparency around broker fees. And by encouraging buyers to negotiate their broker's fee, it would have put downward pressure on real estate commissions, according to Denver-based Joshua Hunt, owner of low-fee brokerage Trelora, who lobbied for the bill. Some brokers disagree with that notion. "onsumers should be legally entitled to clear disclosure of the cost of the service for representation real estate agents," said Colorado state congressman Paul Rosenthal, who sponsored the bill, in a press release. "Our aim is not only to protect home buyers and sellers from price fixing, bu...