Broker Responsibility Group Proposes New Rule on Response Times, Adding Oversight to Sales Agent’s First-Time Brokerage Activity
Submitted by Summer Mandell on Fri, 2022-07-22 12:05The Broker Responsibility Working Group (BRWG) met July 13 and acted on two proposals related to broker oversight and sales agents’ response times.
Proposed Rule
BRWG proposed a new rule, 535.157, that requires a broker or sales agent to respond to their principal, a broker or sales agent representing another party to a real estate transaction, or an unrepresented party to a real estate transaction within two calendar days.