H-8263

   Amend House File 2326, as passed by the House, as follows:
   1.  Page 1, before line 1 by inserting: 
<DIVISION I
REAL ESTATE BROKERS AND THE RENTAL OR LEASING OF REAL ESTATE>
   2.  Page 1, line 33, after <This> by inserting <division of this>
   3.  Page 1, line 35, after <This> by inserting <division of this>
   4.  Page 2, after line 7 by inserting: 
<DIVISION ___
REAL ESTATE BROKERS AND BROKERAGE AGREEMENTS

   Sec. ___.  Section 543B.56A, subsection 2, paragraph e, if enacted by 2024 Iowa Acts, Senate File 2291, section 7, is amended to read as follows:
   e.  Review the broker’s compensation under the brokerage agreement and conspicuously display a statement that the broker’s compensation, fees, and commission are negotiable and not established by law.
   Sec. ___.  Section 543B.56A, subsection 3, if enacted by 2024 Iowa Acts, Senate File 2291, section 8, is amended to read as follows:
   3.  A brokerage agreement must be signed by both the broker and the client prior to the broker listing any property for sale on behalf of a seller, or before showing a property to a buyer, or if no property is shown to a buyer, before making an offer on a property on behalf of a buyer.  This subsection shall not apply to customers attending an open house.
   Sec. ___.  Section 543B.57, subsection 5, Code 2024, is amended to read as follows:
   5.  The seller, in the listing agreement, may authorize the seller’s licensee to disburse part of the licensee’s compensation to other licensees, including a buyer’s licensee solely representing the buyer.  A seller may authorize a portion of the proceeds from the sale of real property, or from another source, to pay a buyer’s licensee compensation. A licensee representing a buyer shall inform the listing licensee, if there is a listing licensee, either verbally or in writing, of the agency relationship before any negotiations are initiated. The obligation of either the seller or the buyer to pay compensation to a licensee is not determinative of the agency relationship.>
   5.  Title page, by striking lines 1 and 2 and inserting <An Act relating to real estate brokers, the rental or leasing of real estate, and brokerage agreements, and including effective date and>
   6.  By renumbering as necessary.