ND HB1401

Amends North Dakota Century Code section 40-11-04.2 governing how cities sell real property through real estate broker listing agreements

Requires cities to publish the resolution describing property for sale on the city website for at least 14 days before engaging brokers, if the city maintains a website

Allows cities to enter exclusive listing agreements with real estate brokers only if the broker is selected through a competitive process

Establishes criteria for broker proposals seeking exclusive listings: broker experience, experience with similar properties, marketing strategy, and proposed commission rate

Authorizes cities to pay compensation to a buyer's real estate broker and requires consideration of total fee impact when negotiating listing agreements

Passed unanimously: House 89-0, Senate 44-0