This bill amends various sections of Wyoming's real estate laws, specifically focusing on the definitions and disclosures related to real estate brokers and salespersons. The definition of "customer" is updated to clarify that it includes individuals who have expressed interest in real estate transactions without having an agency relationship. Additionally, the bill specifies that preliminary interactions, such as open house showings, do not constitute formal discussions related to real estate transactions. It mandates that licensees provide written disclosures regarding agency relationships before engaging in any discussions or arrangements related to real estate transactions.

Furthermore, the bill introduces new requirements for disclosures that licensees must provide to customers, including a statement that customers are not required to sign an agency agreement to view properties during initial showings and that they will not have confidentiality in communications with the licensee. It also clarifies that an agency disclosure provided to a customer will satisfy documentation requirements for establishing an agency relationship. The act is set to take effect on July 1, 2026, and it ensures that existing contracts or agreements for agency relationships prior to this date remain unaffected.

Statutes affected:
Introduced: 33-28-102, 33-28-306, 33-28-310