An Act requiring that broker fees in the city of Somerville be paid by the party who solicits a licensed broker
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill requires that the person who hires a real estate broker in Somerville, Massachusetts, be responsible for paying the broker’s fee, rather than the seller. Currently, in Somerville, the seller typically pays the broker’s fee. This change aims to shift the financial burden of broker fees to the party initiating the real estate transaction.
Key provisions
- Broker fees in Somerville must be paid by the party who solicits a licensed broker.
- The bill applies specifically to the city of Somerville.
- It addresses the payment of fees for real estate brokers.
- The petition was introduced by Representative Mike Connolly.
Who is affected
- Real estate brokers in Somerville
- Homebuyers and sellers in Somerville
- The City of Somerville
Bill text
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Sponsors
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6 on record
Primary sponsor
Cosponsors
James B. Eldridge
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