HCS HB 985 -- REAL ESTATE (Wood)

This substitute changes the laws regarding the practice of real
estate.  The substitute:

(1)  Adds Internet web sites to the licensing exemption, when in
the case of advertising real estate, the advertising is
incidental to their normal business operations;

(2)  Removes the requirement of having on file with the Real
Estate Commission a certified copy of a currently effective
statement of record from the Office of Interstate Land Sales when
land developers sell their own property;

(3)  Allows the commission to issue temporary work permits to
individuals who have satisfied all licensing requirements prior
to the final review and printing of their licenses;

(4)  Grants entities providing continuing education the authority
to do so through the means of distance delivery;

(5)  Gives the commission the authority, when conducting
investigations of complaints involving affiliated licensees, to
forward copies of the information regarding the complaint to the
affiliated licensee's broker;

(6)  Gives the commission authority, when a licensee fails to
renew or surrender his or her license and the commission finds
the licensee to be in violation of certain provisions, to cause
complaints to be filed with the Administrative Hearing
Commission;

(7)  Increases the amount of compensation which each member of
the commission receives from $50 to $75;

(8)  Requires designated brokers who have affiliated licensees to
adopt a written policy describing their relationships in regard
to their real estate activities; and

(9)  Repeals the provisions relating to escrow agents.

FISCAL NOTE:  No impact on state funds in FY 2005, FY 2006, and
FY 2007.

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:14 am