Mon. Apr 22nd, 2024

BILL PASSES SENATE THAT MAKES IT EASIER FOR AUCTIONEERS

SANTA FE (KSMX) –  A bill passed the Senate 39-0 that would give more peace of mind to consumers. Senator Pat Woods of Broadview introduced SB 120, which is a consumer protection bill because people bidding on real property will be better protected if a real estate broker is involved. Under the bill, auctioneers who sell real estate by auction do not need a real estate license but they will need to work under the control of a qualifying broker and have a written agreement under a real estate broker. The bill is needed to clarify a recent 2016 AG advisory opinion that stated an auctioneer could only conduct a real estate auction with a real estate license.

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