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2013 Senate Bill 5352: Clarifying the terminology and duties of the real estate agency relationship law to be consistent with other existing laws
Introduced by Sen. Janéa Holmquist Newbry (Moses Lake) (R) on January 28, 2013
Modifies state regulations governing the interactions between real estate brokers, real estate firms, and buyers. (See also HB 1487).   Official Text and Analysis.
Referred to the Senate Commerce & Labor Committee on January 28, 2013
Substitute offered in the Senate on February 15, 2013
Makes a number of changes to definitions in the real estate brokerage agency chapter to conform to the definitions in the chapter that provides licensing of persons and entities that perform real estate services. For example, broker is defined to include broker, managing broker, and designated broker, as those terms are defined in the chapter providing licensing for real estate brokers and managing brokers.
Referred to the Senate Rules Committee on February 18, 2013
Makes a number of changes to definitions in the real estate brokerage agency chapter to conform to the definitions in the chapter that provides licensing of persons and entities that perform real estate services. Broker is defined to include broker, managing broker, and designated broker, as those terms are defined in the chapter providing licensing for real estate brokers and managing brokers. A definition of real estate firm is added. Firm means a business entity licensed by DOL to conduct real estate brokerage services in this state. The definition of licensee is struck. The duties listed in the real estate brokerage agency relationship chapter are statutory duties, not fiduciary duties. The chapter supersedes all common law fiduciary duties owed by a principal to an agent. The provisions setting forth the formatting of the pamphlet and briefly summarizing the required subjects in the pamphlet are modified to reflect the changes in this act and the 2012 addition of the duty of a firm representing the seller of owner-occupied real property in a short sale. A citation is corrected and numerous language changes are made.
Received in the House on March 13, 2013
Referred to the House Business & Financial Services Committee on March 13, 2013
Referred to the House Rules Committee on March 25, 2013
Provides the statutory duties required in the real estate brokerage relationship supersede all, not just inconsistent, common law fiduciary duties owed by a principal to an agent.
Signed by Gov. Jay Inslee on April 23, 2013