ENROLLED
ACT No. 81
2015 Regular Session
HOUSE BILL NO. 611
BY REPRESENTATIVE PYLANT
1 AN ACT
2 To enact R.S. 37:1431(34) and 1448.3, relative to certain real estate contracts; to define a
3 net listing agreement; to prohibit net listing agreements between real estate brokers
4 and sellers with respect to sales of certain real estate property; and to provide for
5 related matters.
6 Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 37:1431(34) and 1448.3 are hereby enacted to read as follows:
8 §1431. Definitions
9 * * *
10 (34) "Net listing agreement" means a listing agreement that authorizes a
11 broker to take as his commission the difference between the higher sale price at
12 which the real estate property is sold and the stipulated net price agreed upon to be
13 received by the seller.
14 * * *
15 §1448.3. Net listing agreements
16 It is unlawful for any real estate broker to advise or encourage a seller in
17 relation to, or to enter into, a net listing agreement as described in R.S. 37:1431(34),
18 for the sale of residential real estate property or any land as defined in R.S. 47:2302.
SPEAKER OF THE HOUSE OF REPRESENTATIVES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.