Bill description: HB 477 mandates that real estate sales associates provide copies of certain documents to a designated real estate broker or broker's office before the end of the next business day.
Does it give government any new, additional, or expanded power to prohibit, restrict, or regulate activities in the free market? Conversely, does it eliminate or reduce government intervention in the market? HB 477 modifies Section 54-2050, Idaho Code, to mandate that "a sales associate who obtains a signed brokerage representation agreement of any kind shall provide a true and legible copy of such representation agreement to the designated broker or broker's office prior to the end of the next business day."
Additionally, HB 477 modifies Section 54-2051, Idaho Code, to require that "any document signed by a buyer or seller, a sales associate shall provide a true and legible copy of such document to the designated broker or broker's office prior to the end of the next business day. If the document is a fully executed purchase and sale agreement, counter offer, or addendum, such sales associate shall also provide a true and legible copy of such document to both the buyer and the seller."
Like so many other government mandates, this bill replaces the spontaneous order of the free market with the preferences of bureaucrats. It uses the force of government to supplant the natural evolution of an industry.
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