Washington State House passes bill to end 40-year exclusive real estate listing contracts
Washington is now a step closer to ending 40-year exclusive real estate listing contracts forever.
Senate Bill 5399 — legislation that would curb those contracts to five years — made it through the House on Friday with a unanimous 98-0 vote.
“We fixed all that in the bill that passed. So the time limit went from 40 years down to five years,” said Sen. Mark Mullet, a sponsor of the bill. “And we’ve also corrected all the other bad, unintended consequences realized from the bills that they’ve had, you know, from the contracts they’ve had people signing in Washington.”
For as little as a few hundred dollars, consumers signed 40-year contracts giving real estate companies the right to sell their home and make thousands in commissions. Use another agent, and you could be forced to pay tens of thousands to break the deal.
https://www.msn.com/en-us/news/us/washington-state-house-passes-bill-to-end-40-year-exclusive-real-estate-listing-contracts/ar-AA19BzWd
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