|Allows choice of brokerage services|
|Prohibits brokers from offering rebates to consumers|
Tennessee law allows home sellers to choose the services they wish their broker to perform by including a provision allowing them to waive their broker's performance of certain required minimum services.
In 2007, Tennessee passed a law that would prohibit payment of cash rebates to buyers and sellers of real estate. This law effectively overruled the decision by the Tennessee Real Estate Commission to permit such rebates. Tennessee consumers are thus unable to benefit from rebates that consumers in other states may receive.
Learn more about:
Brokerage services: Discount Brokers Can Make Selling a Home Less Costly
May 14, 2007
May 12, 2007
Letter to Tennessee House of Representatives Re: Comments on Tennessee House Bill 2095
Related documents on the Internet:
Tennessee Code Annotated § 62-13-302 prohibiting the payment of cash rebates
Tennessee Code Annotated § 62-13-404 requiring brokers to perform minimum services, but allowing consumer waiver