Bill
H 4476
Overview: H 4476, Trade commissions, Referred to Committee on Labor, Commerce and Industry, Introduced on September 04, 2025Purpose and Intent: This bill seeks to reform the state'
Overview: H 4476, Trade commissions, Referred to Committee on Labor, Commerce and Industry, Introduced on September 04, 2025
Purpose and Intent: This bill seeks to reform the state's regulations governing trade commissions, which are fees paid by sellers to real estate agents and brokers for facilitating transactions. The goal is to increase transparency and fairness in the real estate industry by addressing concerns about high and potentially unjustified commission rates.
Key Provisions:
- Requires real estate agents and brokers to disclose the commission rates they charge upfront to potential clients
- Establishes a maximum allowable trade commission rate of 5% of the sale price
- Prohibits real estate agents and brokers from receiving commissions from both the buyer and seller in the same transaction
- Provides for the enforcement of these new regulations by the state's consumer protection agency
Affected Parties and Impacts: This bill would primarily impact real estate agents, brokers, and home sellers. It aims to increase price competition and reduce the financial burden on sellers, potentially leading to lower housing costs for consumers.
Procedural and Timeline Considerations: The bill has been referred to the Committee on Labor, Commerce and Industry for further review and consideration. If passed, the new trade commission regulations would need to be implemented by the real estate industry within a specified timeframe.
Compiled from official sources — confirm details with the bill’s official record.
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