The bill HB2009 amends sections 11-831, 32-2151.02, and 32-2181 of the Arizona Revised Statutes, relating to real estate. It introduces a 10-year period within which it is unlawful for a person or group of persons to act in concert to avoid subdivision laws by dividing a parcel of land into six or more lots or selling or leasing six or more lots using a series of owners or conveyances. Additionally, the bill requires all real estate employment agreements to include an ascertainable amount or rate of broker compensation and mandates that such agreements be entered into before a buyer tours any dwelling or a broker writes a purchase offer on the buyer's behalf. The bill also prohibits a broker representing a buyer in a residential real estate transaction from receiving compensation exceeding the specified rate or amount in the agreement for activities requiring a license.

Furthermore, the bill defines "residential real estate" as real property in Arizona with a residential dwelling of one to four units and clarifies what constitutes "tours any dwelling." It also makes technical and conforming changes, such as correcting spelling and punctuation, and specifies that certain disclosures are not required if the information pertains to critical infrastructure or is contained in certain reports. The bill was vetoed by the Governor due to concerns about lacking consumer protections and potentially creating barriers for homebuyers.

Statutes affected:
Introduced Version: 11-831, 32-2181
House Engrossed Version: 11-831, 32-2181
Senate Engrossed Version: 11-831, 32-2151.02, 32-2181, 44-101