A 3767
Creates requirements for certain long-term real estate listing contracts.
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Sign in to take action- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill establishes requirements for long-term real estate listing contracts in New Jersey, supplementing existing legislation. It prohibits contracts lasting longer than five years and mandates an early termination option with a penalty not exceeding six percent of the initial contract price per year. The bill also aims to ensure contracts clearly outline effective periods and termination clauses, aligning with broader real estate regulations. It seeks to protect homeowners from potentially exploitative long-term listing agreements.
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