House Bill No. by Representative Mack amends and reenacts R.S. 37:1448.4(A)(3) and enacts R.S. 37:1448.4(A)(4) and 1448.5, focusing on real estate brokers and their compensation. The bill specifies that broker compensation can come from various sources, including a listing broker or brokerage. Additionally, it clarifies that a buyer is not required to enter into a buyer agreement to view a property, but such an agreement is necessary before a broker can submit an offer on behalf of the buyer for compensation.

Furthermore, the bill introduces advertising requirements for residential real estate, mandating that advertisements accurately represent the property, including its terms, value, and services. It also requires that buyer's brokerage fees be disclosed in all public advertisements. These changes aim to enhance transparency and clarity in real estate transactions and advertising practices.

Statutes affected:
HB139 Original: 37:4(A)(3)