Competition and Real Estate by State
||Limits choice of brokerage services
||Allows brokers to offer rebates to consumers
Utah law requires real estate brokers entering into exclusive brokerage agreements to accept and present offers and counteroffers, and answer their clients' questions for consumers in every real estate transaction.
Many MLSs in Utah have now passed rules requiring brokers to enter into exclusive brokerage agreements, so brokers in those MLSs are prevented from offering, and their clients prevented from buying, MLS-listing-only services.
In 2011, the Utah legislature considered a measure that would have reduced choice and raised prices for Utah real estate consumers in non-exclusive brokerage agreements. The Department of Justice wrote a letter opposing the measure. Ultimately, the legislature did not enact the bill.
Learn more about:
Brokerage services: Discount Brokers Can Make Selling a Home Less Costly
Rebates: Rebates Make Buying a Home Less Expensive
February 8, 2011
Letter to Utah House of Representatives: House Amendment #1 to Utah H.B. 91
Related documents on the Internet:
61-2f-308 Utah Code Annotated requiring brokers to perform minimum services