ARC 9248C - Iowa Administrative Rules

Adopted and Filed

Closing a real estate business—brokerage agreements, 8.1(3)

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ARC 9248C

REAL ESTATE COMMISSION[193E]

Adopted and Filed

Rulemaking related to closing a real estate business

The Real Estate Commission hereby amends Chapter 8, “Closing a Real Estate Business,” Iowa Administrative Code.

Legal Authority for Rulemaking

This rulemaking is adopted under the authority provided in Iowa Code chapter 17A and section 543B.18.

State or Federal Law Implemented

This rulemaking implements, in whole or in part, Iowa Code chapter 543B.

Purpose and Summary

This rulemaking complies with 2024 Iowa Acts, House File 2291. The amendments set forth supporting guidance to licensees regarding brokerage agreements.

Public Comment and Changes to Rulemaking

Notice of Intended Action for this rulemaking was published in the Iowa Administrative Bulletin on February 19, 2025, as ARC 8854C. A public hearing was held on the following date(s):

●March 11, 2025

No public comments were received. No changes from the Notice have been made.

Adoption of Rulemaking

This rulemaking was adopted by the Commission on April 3, 2025.

Fiscal Impact

This rulemaking has no fiscal impact to the State of Iowa.

Jobs Impact

After analysis and review of this rulemaking, no impact on jobs has been found.

Waivers

Any person who believes that the application of the discretionary provisions of this rulemaking would result in hardship or injustice to that person may petition the Commission for a waiver of the discretionary provisions, if any, pursuant to 481—Chapter 6.

Review by Administrative Rules Review Committee

The Administrative Rules Review Committee, a bipartisan legislative committee which oversees rulemaking by executive branch agencies, may, on its own motion or on written request by any individual or group, review this rulemaking at its regular monthly meeting or at a special meeting. The Committee’s meetings are open to the public, and interested persons may be heard as provided in Iowa Code section 17A.8(6).

Effective Date

This rulemaking will become effective on June 18, 2025.

The following rulemaking action is adopted:

ITEM 1.Amend subrule 8.1(3) as follows:

8.1(3) Notifies all listing and management clients as well as parties and co-brokers to existing contracts, in writing, advising of the date the firm will close. All listing and management clients are advised in writing that they may enter into a new listingbrokerage or management agreement with the broker of their choice;

[Filed 4/15/25, effective 6/18/25]

[Published 5/14/25]

EDITOR’S NOTE: For replacement pages for IAC, see IAC Supplement 5/14/25.