FINAL BILL REPORT

SB 5487

                              C 85 L 90

BYSenators McCaslin, DeJarnatt and Thorsness

Requiring real estate licensees to disclose certain information in writing.

Senate Committee on Governmental Operations

House Committe on Commerce & Labor

SYNOPSIS AS ENACTED

BACKGROUND:

The Director of the Department of Licensing may suspend or revoke the license of a real estate licensee or impose fines of less than $1,000 for various violations.  Certain disclosures to clients are required of real estate licensees and failure to make them is grounds for suspension or penalty.  Real estate licensees advertising their own property for sale must disclose the name of their broker in any advertising.  Disclosure that a licensee represents both parties to a transaction need not be in writing.

SUMMARY:

Real estate licensees advertising their own property for sale must disclose only that they hold a real estate license.  Licensees must make written disclosure when representing both parties to a real estate transaction.

VOTES ON FINAL PASSAGE:

     Senate   40    0

     House 95  0 (House amended)

     Senate   45    3 (Senate concurred)

EFFECTIVE:June 7, 1990