Senate Bill No. 154 - Real Estate Services Summary

• Completely revises Delaware Title 24, Chapter 29 governing real estate brokers, associate brokers, and salespersons to modernize licensing law and align with practices of other states and professional boards.

• Establishes three licensure categories: Broker (responsible for brokerage organization management), Associate Broker, and Salesperson; clarifies that Brokers are ultimately responsible for real estate transactions.

• Implements statutory agency as the presumed relationship between licensees and consumers, with duties of confidentiality commencing at first contact, and permits common law agency relationships only through written agreement.

• Authorizes the Commission to issue cease and desist orders for unlicensed practice, permanently revoke licenses, and temporarily suspend licenses pending hearing when activity presents clear and immediate danger to public health or safety.

• Expands reciprocal licensure options for out-of-state applicants, requires disclosure of criminal convictions at license renewal, allows licensees to hold additional licenses with broker consent, and establishes standards for comparative market analyses (confirming they are not appraisals).