SB 6653-S - DIGEST

(AS OF SENATE 2ND READING 2/8/96)

     Declares that a licensee who performs real estate brokerage services for a buyer is a buyer's agent unless the:  (1) Licensee has entered into a written agency agreement with the seller;

     (2) licensee has entered into a subagency agreement with the seller's agent;

     (3) licensee has entered into a written agency agreement with both parties;

     (4) licensee is the seller or one of the sellers; or

     (5) parties agree otherwise in writing.

     Specifies the duties of a licensee generally.

     Specifies the duties of a seller's agent.

     Specifies the duties of a buyer's agent.

     Specifies the duties of a dual agent.

     Establishes parameters for compensation.