MI HB5228

Requires real estate licensees to provide written agency disclosure forms to potential buyers or sellers before receiving any confidential information, updating the standardized disclosure form language

Limits service waivers through limited service agreements to sellers and lessors only, removing the ability for buyers to waive certain services such as offer presentation and negotiation assistance

Removes "Buyer's Agent – limited service agreement" as a disclosure option on the agency disclosure form, eliminating that category of buyer representation

Exempts brokers from providing detailed closing statements when a licensed title insurance company or its authorized agent conducts the closing

Redefines "transaction coordinator" as a licensee facilitating transactions for both buyer and seller in a nonagency capacity without serving as an advocate or advisor for either party

Takes effect only if HB 5229 and HB 5227 of the 103rd Legislature are also enacted into law