New Hampshire House Bill HB1344

New Hampshire 2022 Regular Session

• Introduced: 11/20/21
• Refer: 11/20/21
• Report Pass: 3/9/22
• Engrossed: 3/22/22
• Refer: 3/22/22
• Report Pass: 4/6/22
• Enrolled: 5/13/22
• Chaptered: 5/24/22
• Passed: 5/24/22

Caption

Relative to the authority of real estate brokers.

Impact

The enactment of HB1344 will significantly impact real estate practices in New Hampshire by prohibiting any stipulation in listing agreements that would allow brokers to sign contracts for property sales. This restricts brokers from binding property owners to sales agreements without direct involvement or consent, potentially leading to fewer disputes regarding unauthorized actions by brokers. The intent is to protect property owners and ensure their explicit consent for contractual obligations, which proponents argue will lead to greater trust and transparency in real estate transactions.

Summary

House Bill 1344 amends existing provisions regarding the authority of real estate brokers in New Hampshire. The bill mandates that any contract for the sale of real property must be executed either by the owner or by a designated person authorized through a power of attorney. This regulation specifically targets the power brokers have historically exercised in executing contracts on behalf of property owners, thereby centralizing contract responsibility with the owners themselves or their legally appointed agents. This shift is aimed at increasing accountability and clarity in real estate transactions, ensuring that property owners retain control over the sales process.

Contention

Despite the apparent benefits, the bill may face opposition from some members of the real estate community, who argue that this change could complicate the sales process. Critics may express concerns about limiting brokers' ability to facilitate transactions efficiently, potentially leading to delays in property sales. These stakeholders could advocate for a more balanced approach that still allows brokers a degree of authority in certain situations while maintaining protections for property owners. The discussions surrounding the bill highlight differing views on the role of real estate professionals and the need for safeguarding consumer rights.