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Senate Bill Report ESHB 2059 — Real Estate Broker Duties

Summary

Senate Bill Report on ESHB 2059, as of February 15, 2022, prepared for the Senate Committee on Business, Financial Services & Trade. The bill is titled as an act relating to real estate agency law, to clarify that the statutory duties of real estate brokers apply to all parties and to prohibit delivery of buyer unfair practice letters to the seller of residential real estate. The brief summary says it establishes that brokers rendering real estate brokerage services owe statutory duties to all parties in a transaction. The background lists existing broker duties, including to exercise reasonable skill and care and to deal honestly in good faith. The report states Appropriation: None, Fiscal Note: Not requested, and an effective date ninety days after adjournment of session in which the bill is passed.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Issuer
Congressional materials
Document type
Report
Date
2022-02-17
Case
2022 02 17 A29814 D242771 Bill Report 2059 S E Sba Bfst 22

Cite this document

“Senate Bill Report ESHB 2059 — Real Estate Broker Duties.” Original at app.leg.wa.gov, dated 2022-02-17. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2022-02-17-2022-02-17-a29814-d242771-bill-report-2059-s-e-sba-bfst-22/, SHA-256 1f9c986bc47b460ff28ef2f9c003ce6bdae04c08e5deeac70a3d760f7a0b8d22.

Full text

                             SENATE BILL REPORT
                                  ESHB 2059

                                      As of February 15, 2022

Title: An act relating to real estate agency law, but only to clarify that the statutory duties of real
     estate brokers apply to all parties and prohibiting the delivery of buyer unfair practice letters
     to the seller of residential real estate.

Brief Description: Concerning real estate broker duties.

Sponsors: House Committee on Consumer Protection & Business (originally sponsored by
    Representatives Gregerson, Leavitt, Morgan, Vick, Gilday, Rude, Chapman, Barkis and
    Lekanoff).

Brief History: Passed House: 2/10/22, 95-0.
     Committee Activity: Business, Financial Services & Trade: 2/17/22.


                                      Brief Summary of Bill
           • Establishes that brokers rendering real estate brokerage services owe
             statutory duties to all parties in a transaction.


SENATE COMMITTEE ON BUSINESS, FINANCIAL SERVICES & TRADE

     Staff: Kellee Gunn (786-7429)

     Background: Real Estate Brokers. A real estate broker is anyone who acts on behalf of a
     real estate firm to perform real estate brokerage services under the supervision of a
     managing or designated broker. Brokers may represent a buyer, seller, or—in a dual agency
     relationship—both the buyer and seller if all parties agree in writing. Real estate firms and
     brokers are licensed in Washington State through the Department of Licensing (DOL).

     Duties as a Real Estate Broker. Certain duties apply between an agent and a seller, a seller
     and a buyer, or in a dual agency relationship, including the duty to:
        • exercise reasonable skill and care;



     This analysis was prepared by non-partisan legislative staff for the use of legislative
     members in their deliberations. This analysis is not part of the legislation nor does it
     constitute a statement of legislative intent.

Senate Bill Report                               -1-                                       ESHB 2059
         • deal honestly in good faith;
         • present all written notices and offers to and from either party in a timely manner;
         • disclose all existing material facts known by the broker;
         • account for all money and property received in a timely manner;
         • provide information on the law of real estate agency at certain points in the sale of
           real estate;
         • disclose in writing to all parties information on who the broker represents to those the
           broker is providing brokerage services to; and
         • make a good faith effort to find a property for a buyer or sell the property for a seller.

     These duties cannot be waived. The only duty that can be waived is the duty to make a
     good faith and continuous effort to seek a buyer for a seller or a seller for a buyer. Under
     written consent, dual agents are not obligated to seek additional properties to purchase for a
     buyer or seek additional offers for the seller.

     Summary of Bill: Duties as a Real Estate Broker. Regardless of whether a broker is an
     agent, or what the relationship is between the broker and client, a broker who renders real
     estate brokerage services owes certain statutory duties to all parties on the disclosure,
     accuracy, and timeliness of information provided.

     Appropriation: None.

     Fiscal Note: Not requested.

     Creates Committee/Commission/Task Force that includes Legislative members: No.

     Effective Date: Ninety days after adjournment of session in which bill is passed.




Senate Bill Report                              -2-                                       ESHB 2059

File and source

File
2022-02-17_a29814_d242771_bill-report-2059-s-e-sba-bfst-22.pdf
Size
7,447 bytes
SHA-256
1f9c986bc47b460ff28ef2f9c003ce6bdae04c08e5deeac70a3d760f7a0b8d22
Our copy
2022-02-17_a29814_d242771_bill-report-2059-s-e-sba-bfst-22.pdf
Original
app.leg.wa.gov
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