To provide antitrust exemptions for State licensed real estate brokers or their salespersons or any trade association to which they may belong regulated and licensed by States.
This bill would provide antitrust exemptions for state-licensed real estate brokers, their salespersons, and related trade associations from federal antitrust laws, allowing them to operate primarily under state regulation instead. The legislation declares that states have the authority to regulate and tax the real estate brokerage business, and it nullifies all prior federal laws, rules, or settlements related to real estate brokers upon passage. The bill specifically states that federal antitrust laws like the Sherman Act, Clayton Act, and Federal Trade Commission Act would only apply to real estate transactions to the extent that state law does not already regulate that activity. This measure would primarily affect real estate professionals, brokers, and their industry trade associations like the National Association of Realtors. The bill contains no specified funding or implementation timeline beyond taking effect upon passage.
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