2005 CHAPTER 193-E
Commission approved: April 14, 2005
Published Notice of Intended Action ARC4115B:
June 8, 2005
Commission Adopted: July 14, 2005
Published Adopted ARC4428B:
August 17, 2005
Effective date September 21, 2005
to the authority of Iowa Code sections 543B.9 and
543B.18, the Real Estate Commission hereby amends Chapter 3, "Broker License,"
and Chapter 4, Salesperson License, Iowa Administrative Code.
New subrules 3.3(3), 3.6(5), 4.3(3), and 4.6(5) are added to
provide the Commission the authority to initiate a
contested case to challenge qualifications for licensure after administratively processing
an application. The language is the same as or
similar to current renewal language in subrules 3.5(5) and 4.5(5). One word is added to the catchwords of rule
4.3(543B) for consistency and clarification.
Commission approved: July 14, 2005
Published Notice of Intended Action ARC4451B:
August 31, 2005
Commission Adopted: November 3, 2005
Published Adopted: ARC4697B:
December 7, 2005
Effective date January 11, 2006
the authority of Iowa Code sections 543B.9, and 543B.18 and Chapter 558A, the Real Estate
Commission hereby hereby amends Chapter 14, "Seller Property Condition
Disclosure," Iowa Administrative Code.
Subrule 14.1(6) adds to the Residential Property Seller Disclosure Statement new numbered
item 16, which requires the disclosure of restrictive covenants. Existing numbered items 16 to
19 are not amended but will be renumbered as 17 to 20.
September 8, 2005* includes persons who are not
licensed in Iowa but who are licensed in another state or who are licensed or otherwise
authorized to engage in the real estate business in a foreign country.
* Please note: See HF
882 Section 73 which contains amendments to Iowa Code section 543B.60A that were
effective 7-1-2005 as follows:
Published Notice of Intended Action
October 26, 2005
Administrative Rules Committee: November 8, 2005
Commission Adopted: December 14, 2005
January 18, 2006
Effective date: February 22, 2006
Pursuant to the authority of Iowa Code sections 543B.9 and
543B.18 the Real Estate Commission hereby gives Notice of Intended Action to amend Chapter
7, "Offices and Management," Iowa Administrative Code.
New subrule 7.4(8) is added
to clarify that the prohibition provided by Iowa Code section 543B.60A
543B.60A Prohibited practices.
1. A licensee shall not request a referral fee after a bona fide offer to purchase
2. A licensee shall not request a referral fee after a bona fide listing agreement
has been signed.
3. A licensee shall not offer, promote, perform, provide, or otherwise participate
in any marketing plan that requires a consumer to receive brokerage services, including
referral services, from two or more licensees in a single real estate transaction, as a
required condition for the consumer to receive either of the following:
a. Brokerage services from one or more of such licensees.
b. A rebate, prize, or other inducement from one or more such licensees.
4. For purposes of this section, "consumer" shall include parties or
prospective parties to a real estate transaction, clients or prospective clients of a
licensee, or customers or prospective customers of a licensee.
5. This section does not address relationships between a broker and the broker
associates or salespersons licensed under, employed by, or otherwise associated with the
broker in a real estate brokerage agency.
6. A violation of this section is deemed a violation of section 543B.29 ,
7. The purpose of this section is to prohibit licensee practices that interfere
with contractual arrangements, place improper restrictions on consumer choice, compromise
a licensee's fiduciary obligations, and create conflicts of interest.
99 Acts, ch 22, §2; 2005 Acts, ch 179, §73
Section stricken and rewritten