SF0067 • 2012

Real estate brokers and sales agents-opinions on value.

AN ACT relating to real estate brokers and sales agents; providing for opinions regarding the value of real estate; providing disclaimer language; providing conforming amendments; and providing for an effective date.

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor: Senator Perkins
Last action: 2012-03-12
Official status: enrolled
Effective date: 7/1/2012

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

SF0067H2001

2nd reading • GINGERY

Failed

Plain English: Failed 2nd reading by GINGERY

This amendment summary is using official source text because generated interpretation was skipped for this run.
The official amendment text was available, but an easy plain-English summary could not be produced automatically during the last sync.

SF0067HW001

Committee of the Whole • STUBSON

Adopted

Plain English: Adopted Committee of the Whole by STUBSON

This amendment summary is using official source text because generated interpretation was skipped for this run.
The official amendment text was available, but an easy plain-English summary could not be produced automatically during the last sync.

SF0067HS001

Standing Committee • H07

Adopted, Corrected

Plain English: Adopted, Corrected Standing Committee by H07

This amendment summary is using official source text because generated interpretation was skipped for this run.
The official amendment text was available, but an easy plain-English summary could not be produced automatically during the last sync.

SF0067S3001

3rd reading • PERKINS

Failed

Plain English: Failed 3rd reading by PERKINS

This amendment summary is using official source text because generated interpretation was skipped for this run.
The official amendment text was available, but an easy plain-English summary could not be produced automatically during the last sync.

SF0067SS001

Standing Committee • CASE

Adopted

Plain English: Adopted Standing Committee by CASE

This amendment summary is using official source text because generated interpretation was skipped for this run.
The official amendment text was available, but an easy plain-English summary could not be produced automatically during the last sync.

Bill History

2012-03-12 LSO
Assigned Chapter Number
2012-03-09 Governor
Governor Signed SEA0031
2012-03-06 House
H Speaker Signed SEA No. 0031
2012-03-06 Senate
S President Signed SEA No. 0031
2012-03-06 LSO
Assigned Number SEA0031
2012-03-05 Senate
S Did Concur
2012-03-05 Senate
S Received for Concurrence
2012-03-05 House
H Passed 3rd Reading
2012-03-02 House
H Passed 2nd Reading
2012-03-02 House
Amendment Failed
2012-03-01 House
H Passed CoW
2012-03-01 House
Amendment Adopted
2012-03-01 House
H Amendments Adopted
2012-03-01 House
Amendment Adopted
2012-02-29 House
H Placed on General File
2012-02-29 House
H07 Recommended Amend and Do Pass
2012-02-23 House
H Introduced and Referred to H07
2012-02-22 House
H Received for Introduction
2012-02-21 Senate
S Passed 3rd Reading
2012-02-21 Senate
Amendment Failed
2012-02-20 Senate
S Passed 2nd Reading
2012-02-17 Senate
S Passed CoW
2012-02-17 Senate
S Amendments Adopted
2012-02-17 Senate
Amendment Adopted
2012-02-16 Senate
S Placed on General File
2012-02-16 Senate
S07 Recommended Amend and Do Pass
2012-02-14 Senate
S Introduced and Referred to S07
2012-02-13 Senate
S Received for Introduction
2012-02-10 LSO
Bill Number Assigned

Official Summary Text

SF0067

Bill No.:
SF0067
Drafter:

LGC

LSO No.:
12LSO-0262
Effective Date:

July 1, 2012

Enrolled Act No.:
SEA0031

Chapter No.:
CH0068

Prime Sponsor:
Senator
Perkins

Catch Title:
Real estate brokers price opinions.

Subject:
Limiting
who may issue price opinions

Summary/Major Elements:

Under current law there are no restrictions on a licensed real
estate broker's or salesman's issuance of an opinion on the value of real property
and how that opinion may be used, although only licensed real estate appraisers
may issue an appraisal.

This act defines a "brokers price opinion" as an
estimate prepared by a real estate licensee (broker or salesman) that details
the probable selling price of real estate and provides a varying level of
detail about the real estates condition, market and neighborhood and
information about sales of comparable real estate.

This act authorizes a licensee to prepare a broker's price
opinion for a potential seller to recommend a listing price, for a potential
buyer to recommend a purchase price or for any third party for any purpose
permitted by law.

This act amends the definition of "real estate activity,"
which would require licensure under the Real Estate License Act, to include
issuance of a broker's price opinion.

This act requires any printed or electronic broker's price opinion
to contain a statement that the opinion is not a certified appraisal of the
market value of the property.

Current Bill Text

Read the full stored bill text

WORKING DRAFT

ORIGINAL SENATE
FILE

NO.
0067

ENROLLED ACT NO. 31, SENATE

SIXTY-FIRST LEGISLATURE OF THE STATE OF WYOMING
2012 BUDGET SESSION

AN ACT relating to
real estate
licensees
; providing for opinions regarding the
price
of real estate; providing disclaimer language;
providing definitions;
providing conforming amendments;
and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1.

W.S. 33
‑
28
‑
125 is created to read:

33
‑
28
‑
125.

Broker's price opinions
.

(a)

A
licensee
may
prepare
a broker's price opinion
:

(i)

To a potential seller or third party, recommending a listing price of real estate;

(ii)

To a potential buyer or third party, recommending a purchase price of real estate; or

(iii)

To any third party, for any purpose permitted by law.

(b)

Every printed or electronic broker
's price
opinion prepared as provided in subsection (a) of this section shall include the statement:
"
This
is an
opinion
of price and
is not
a certified
appraisal of the market value of the property. If
such
an appraisal is desired, the service of a
certified
appraiser must be obtained.
"

Section 2.

W.S.
33-28-102(b)(xlv)(intro), (M), (N), by creating a new subparagraph (O), by creating a new paragraph (lxii) and by renumbering (lxii) as (lxiii) and
33
‑
39
‑
103
are
amended to read:

33
‑
28
‑
102.

Definitions.

(b)

As used in this act:

(xlv)

"Real estate activity" occurs when an individual for another and for compensation

performs any one or more of the following
:

(M)

Assists or directs in the negotiation of any transaction calculated or intended to result in the sale, exchange, lease or rental of real estate;

or

(N)

Deals in time shares
;
.

(O)

Provides a broker's price opinion as provided in W.S. 33
‑
28
‑
125.

(lxii)

"Broker's price opinion" means an estimate prepared by a licensee that details the probable selling price of real estate and provides a varying level of detail about the real estate's condition, market and neighborhood and information about sales of comparable real estate;

(lxii)
(lxiii)

"This act" means W.S. 33
‑
28
‑
101 through 33
‑
28
‑
401

33
‑
39
‑
103.

Exemptions.

(a)

Except as provided in subsection (b) of this section, t
his act does not apply to any person who does not hold himself out as, or offer to perform services as, a certified real estate appraiser.

(b)

Any licensed real estate
licensee
shall only provide an opinion as to the price of real estate as provided in W.S. 33
‑
28
‑
125.

Section
3
.

This act is effective July 1, 2012.

(END)

Speaker of the House

President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the Senate.

Chief Clerk

1