The bill provides minimum service standards for real estate brokerage agencies.

The bill amends the educational provisions for real estate brokerage licensees. The bill increases the continuing education requirement for licensees from 15 hours to 21 hours. The bill removes the requirement that associate real estate brokerage license applicants take an examination. Additionally, the bill requires that applicants for a real estate sales agent license both complete a course of study of no less than 84 hours and take an examination.

The bill requires that real estate brokerage licensees, as well as owners selling their own homes, provide property disclosures containing certain information.

The bill updates the seller's mandatory disclosures involving reference to heating systems and sources rather than to insulation. The bill also authorizes the Real Estate Commission to adopt other mandatory disclosures through rulemaking.