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-25.1105.01000
+25.1105.01001
+Title.02000
+Adopted by the Industry, Business and
+Labor Committee
 Sixty-ninth
+January 27, 2025
 Legislative Assembly
 of North Dakota
 Introduced by
@@ -18,13 +22,16 @@
 b. Provide a maximum rate of fee, compensation, or commission; and provide
 c. Provide that the city reserves the right to reject any and all offers determined to
 be insufficient.
-2. After adoption of the resolution, the governing body of a city may engage licensed real
-estate brokers to attempt to sell the described property by way of nonexclusive listing
-agreements or by way of an exclusive listing agreement if the real estate broker is
-selected through a competitive process.
-Page No. 1 25.1105.01000
+2. After adoption of the resolution, and publication of the resolution on the city website for
+at least fourteen days, if the city maintains a website, the governing body of a city may
+engage licensed real estate brokers to attempt to sell the described property by way of
+nonexclusive listing agreements or by way of an exclusive listing agreement if the real
+estate broker is   selected through a competitive process  .
+      3.    A proposal from a licensed real estate broker to enter an exclusive listing agreement
+with the governing body of a city must be based on the:
+Page No. 1 25.1105.01001
  HOUSE BILL NO. 1401
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+PROPOSED AMENDMENTS TO
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+18
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+Sixty-ninth
+Legislative Assembly
+              a.    Experience of the licensed real estate broker;
+              b.    Experience of the licensed real estate broker selling similar property;
+              c.    Marketing strategy the licensed real estate broker intends to use; and
+              d.    Rate of fee, compensation, or commission the licensed real estate broker intends
+to accept.
+      4.    In the negotiation of a purchase agreement with a buyer represented by a real estate
+broker, the governing body of a city may agree to pay compensation to the buyer's real
+estate broker. In the negotiation of a listing agreement, the governing body of a city
+shall consider the financial impact of paying compensation to the buyer's real estate
+broker on the total fees, compensation, or commission that may become payable by
+the city.
+Page No. 2 25.1105.01001
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