DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of the
legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 611 Engrossed 2015 Regular Session Pylant
Abstract: Prohibits the use of net listing agreements in certain circumstances.
Proposed law defines a "net listing agreement" as a "listing agreement" defined in present law that
authorizes a broker to take as his commission the difference between the higher sale price at which
the real estate property is sold and the stipulated net price agreed upon to be received by the seller.
Proposed law makes it unlawful for a real estate broker to advise or encourage in relation to, or to
enter into, a net listing agreement as defined in proposed law for the sale of residential real estate
property, or for any property defined in present law (R.S. 47:2302).
(Adds R.S. 37:1431(34) and 1448.3)
Summary of Amendments Adopted by House
The Committee Amendments Proposed by House Committee on Commerce to the original bill:
1. Prohibit net listing agreements for the sale of residential real estate property, or for the
sale of bona fide agricultural land, bona fide horticultural land, bona fide marsh land, and
bona fide timberland as defined in present law.