On Apr. 1, ND LEG enacted bill related to real property list agreement.
ND LEG enacted bill HB 1401 related to transfer of real property listing agreements.
Amendments were made to the North Dakota century code at ND LEG 40-11-04.2.
Document dated Apr. 1, 2025, was received on Apr. 24, 2025, due to a fixed feed.
Legislative Provisions
Amended by including exclusive listing agreements in the transfer of real property.
Added proposal from licensed real estate broker to enter exclusive listing agreement with governing body of city must be based on experience of licensed real estate broker.
Also, experience of real estate broker selling similar property; marketing strategy broker intends to use; rate of fee, compensation, commission broker intends to accept.
Negotiation of a purchase agreement with a buyer represented by a real estate broker, governing body of a city may agree to pay compensation to buyer's real estate broker.
In negotiation of a listing agreement, governing body of city must consider financial impact of paying compensation to buyer's real estate broker on total fees comp.
Legislative History
On Jan. 13, 2025, bill introduced in the House; on Jan. 31, 2025, bill passed House.
On Feb. 13, 2025, bill introduced into Senate; on Mar. 21, 2025, bill passed Senate.
On Mar. 26, 2025, delivered to governor; on Apr. 1, 2025, bill signed by the governor.
Effectiveness
Per ND Constitution, upon approval by governor, bill becomes effective Aug. 1, 2025.
Regulators
ND LEG
Entity Types
Corp; MG Orig
Reference
Bill, HB 1401, 4/1/2025; Citation: ND LEG 40-11-04.2;
