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ID S1127
Bill
AI Summary
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Adds definition of "active license" as a real estate license that has not been inactivated, expired, terminated, suspended or revoked.
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Adds definition of "broker price opinion" as a written price opinion of estimated property value prepared or rendered by an actively licensed broker or associate broker for purposes other than prospective listing or sale, complying with section 54-4105 requirements.
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Allows actively licensed salespersons or brokers to give price opinions for prospective listings or sales, but restricts broker price opinions to actively licensed brokers or associate brokers only.
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Requires associate brokers who prepare broker price opinions to notify the designated broker and accept fees only through the designated broker; non-compliant price opinions subject to commission discipline.
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Removes redundant language from section 54-2058 defining "acting within the state of Idaho" since the definition is already established in section 54-2004.
Legislative Description
Amends existing law relating to Idaho real estate license law to provide that certain licensees may give an opinion of the price of real estate for the purpose of a prospective listing or sale, to provide that only an actively licensed broker or associate broker may prepare and render a broker price opinion, to provide requirements relating to a broker price opinion prepared or rendered by an associate broker and to provide for discipline; and to remove language relating to a person acting within the state of Idaho.
REAL ESTATE LICENSE LAW
Last Action
Governor signed Session Law Chapter 108 Effective: 07/01/11
3/22/2011