House Bill No. by Representative Mack amends and reenacts R.S. 37:1448.4(A)(3) and introduces new sections R.S. 37:1448.4(A)(4) and 1448.5, focusing on regulations surrounding real estate brokers and their compensation. The bill clarifies that broker compensation can come from various sources, including a listing broker or brokerage. Additionally, it specifies that a buyer is not required to enter into a buyer agreement before a real estate agent can show 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 establishes advertising requirements for residential real estate properties, mandating that advertisements accurately represent the property, including its terms, value, and services. Importantly, it requires that buyer's brokerage fees be disclosed in all public advertisements, ensuring transparency in real estate transactions. These changes aim to enhance clarity and fairness in the real estate market in Louisiana.

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