Senate Bill 3002, which HAR strongly supports, amends provisions relating to the licensing and penalties of real estate brokers and salespersons by clarifying that real estate brokers and salespersons:
- Cannot be held liable for misrepresentations based upon a good faith reliance on the information provided by a reputable property inspector, seller of representative of the seller, surveyor, contractor, licensed professional, community or homeowner’s association representative, public record or property manager;
- Cannot be held liable for failure to ascertain and disclose all material facts concerning a property if there was a good faith reliance on a prepared disclosure statement; and
- Allows the Regulated Industries Complaints Office and Real Estate Commission to determine whether the real estate licensee relied in good faith on the information provided.
The measure can either go to Conference Committee or be approved and head to the Governor’s Office where he can sign it into law, not sign it into law or veto it.
