"Public marketing includes publication of the listing through any medium that is reasonably accessible to the general public and real estate licensees, that provides open and nondiscriminatory access to property information. Additionally, the bill states that if a property is marketed through a private or limited access channel, concurrent marketing through a public channel must also occur."
"Through the form, the seller or landlord must acknowledge that by not publicly marketing their listing, prospective buyers may not be aware that the property is for sale and that the limited exposure may limit the number of offers they receive or lower the sales price on the property."
"If the bill is signed into law, no real estate broker in Hawaii would be allowed to list or offer the sale or lease of a residential property to a limited or exclusive group of buyers, brokers or agents, unless the property is also marketed to the general public at the same time."
Legislation in multiple states mandates that real estate properties marketed through private or limited access channels must simultaneously be marketed through public channels accessible to all prospective buyers and real estate licensees. This requirement promotes transparency and nondiscriminatory access to property information. Sellers or landlords who opt out of public marketing must acknowledge through a form that limited exposure may reduce buyer awareness, decrease offer numbers, and potentially lower sales prices. Hawaii Senate Bill 2806, sponsored by four Democratic senators, prohibits real estate brokers from listing residential properties exclusively to limited groups unless concurrent general public marketing occurs. The bill includes exceptions for private marketing when necessary to protect health or safety. Similar legislation has been introduced in Washington and Illinois, representing a coordinated effort to regulate real estate marketing practices across multiple states.
#real-estate-marketing-regulations #public-disclosure-requirements #property-listing-transparency #state-legislation
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