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Engrossed Substitute House Bill 2059 — State of Washington, 67th Legislature, 2022 Regular Session

Summary

Engrossed Substitute House Bill 2059 of the State of Washington, 67th Legislature, 2022 Regular Session, by House Consumer Protection & Business, originally sponsored by Representatives Gregerson, Leavitt, Morgan, Vick, Gilday, Rude, Chapman, Barkis, and Lekanoff, read first time February 2, 2022. The bill relates 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, and amends RCW 18.86.030. Section 1 provides that a broker who renders real estate brokerage services owes duties to all parties that may not be waived, including to exercise reasonable skill and care, to deal honestly and in good faith, and to disclose in writing whether the broker represents the buyer, the seller, both parties, or neither party.

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“Engrossed Substitute House Bill 2059 — State of Washington, 67th Legislature, 2022 Regular Session.” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2022-02-22-a29904-bill-2059-s-e-ed158a9d97/, SHA-256 640d18131ac122aa66763745f6760938218f3c7ee129fc0c7295d909cc4d8028.

Full text

                     ENGROSSED SUBSTITUTE HOUSE BILL 2059


     State of Washington         67th Legislature     2022 Regular Session

     By House Consumer Protection & Business (originally sponsored by
     Representatives Gregerson, Leavitt, Morgan, Vick, Gilday, Rude,
     Chapman, Barkis, and Lekanoff)

     READ FIRST TIME 02/02/22.




1        AN ACT Relating to real estate agency law, but only to clarify
2    that the statutory duties of real estate brokers apply to all parties
3    and prohibiting the delivery of buyer unfair practice letters to the
4    seller of residential real estate; and amending RCW 18.86.030.


5    BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:


 6       Sec. 1. RCW 18.86.030 and 2013 c 58 s 3 are each amended to read
 7   as follows:
 8       (1) Regardless of whether a broker is an agent, ((the)) a broker
 9   ((owes to all parties to whom the broker)) who renders real estate
10   brokerage services owes the following duties to all parties, which
11   may not be waived:
12       (a) To exercise reasonable skill and care;
13       (b) To deal honestly and in good faith;
14       (c) To present all written offers, written notices and other
15   written communications to and from either party in a timely manner,
16   regardless of whether the property is subject to an existing contract
17   for sale or the buyer is already a party to an existing contract to
18   purchase;
19       (d) To disclose all existing material facts known by the broker
20   and not apparent or readily ascertainable to a party; provided that


                                       p. 1                         ESHB 2059
 1   this subsection shall not be construed to imply any duty to
 2   investigate matters that the broker has not agreed to investigate;
 3       (e) To account in a timely manner for all money and property
 4   received from or on behalf of either party;
 5       (f) To provide a pamphlet on the law of real estate agency in the
 6   form prescribed in RCW 18.86.120 to all parties to whom the broker
 7   renders real estate brokerage services, before the party signs an
 8   agency agreement with the broker, signs an offer in a real estate
 9   transaction handled by the broker, consents to dual agency, or waives
10   any    rights,    under    RCW    18.86.020(1)(e),    18.86.040(1)(e),
11   18.86.050(1)(e), or 18.86.060(2) (e) or (f), whichever occurs
12   earliest; and
13       (g) To disclose in writing to all parties to whom the broker
14   renders real estate brokerage services, before the party signs an
15   offer in a real estate transaction handled by the broker, whether the
16   broker represents the buyer, the seller, both parties, or neither
17   party. The disclosure shall be set forth in a separate paragraph
18   entitled "Agency Disclosure" in the agreement between the buyer and
19   seller or in a separate writing entitled "Agency Disclosure."
20       (2) Unless otherwise agreed, a broker owes no duty to conduct an
21   independent inspection of the property or to conduct an independent
22   investigation of either party's financial condition, and owes no duty
23   to independently verify the accuracy or completeness of any statement
24   made by either party or by any source reasonably believed by the
25   broker to be reliable.

                                  --- END ---




                                     p. 2                        ESHB 2059

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