DE SB154

Completely rewrites Delaware's real estate licensing chapter to establish the Delaware Real Estate Commission with 9 members (5 professional, 4 public) appointed by the Governor for 3-year terms

Creates three license categories: Broker (responsible for brokerage organization supervision), Associate Broker (minimum age 23, must pass broker exam), and Salesperson (minimum age 18), with specific education, examination, and experience requirements for each

Establishes "Statutory Agency" as the default business relationship between licensees and consumers, replacing common law agency rules, with specific duties including confidentiality, cooperation, and disclosure requirements

Maintains the Real Estate Guaranty Fund at minimum $250,000 to compensate consumers (up to $25,000 per claim) who obtain judgments against licensees for theft, forgery, fraud, misrepresentation, or deceit

Requires brokers to maintain escrow accounts in federally insured Delaware banks, establishes office permit requirements, and sets disciplinary sanctions including fines up to $5,000 per violation, license suspension, or revocation