Section 1. Short title
This Act may be cited as Common Sense Real Estate Consumer Rights Protection Act of 2024.
Section 2. Declaration of policy
Congress hereby declares that the continued regulation and taxation by the several States of the business of representing buyers and sellers in the real estate transactions commonly understood and regulated and licensed by States as the business of State licensed real estate brokers or their salespersons or any trade association to which they may belong is in the public interest, and that silence on the part of the Congress shall not be construed to impose any barrier to the regulation or taxation of such business by the several States. All prior laws, rules, or settlements relating to real estate brokers are null and void upon passage of this bill.
(a) State regulation
The business of representing buyers and sellers in the real estate transactions commonly understood and regulated and licensed by States as the business of State licensed real estate brokers or their salespersons or any trade association to which they may belong, and every person engaged therein, shall be subject to the laws of the several States which relate to the regulation or taxation of such business.
(b) Federal regulation
No Act of Congress shall be construed to invalidate, impair, or supersede any law enacted by any State for the purpose of regulating the business of representing buyers and sellers in the real estate transactions commonly understood and regulated and licensed by States as the business of State licensed real estate brokers or their salespersons or any trade association to which they may belong, or which imposes a fee or tax upon such business, unless such Act specifically relates to the business of commonly regulated and licensed by States as the profession of State licensed real estate brokers or their salespersons or any trade association to which they may belong: Provided, That after the date of enactment of this Act, the Act of July 2, 1890, as amended, known as the Sherman Act, as amended, and the Act of October 15, 1914, as amended, known as the Clayton Act, and the Act of September 26, 1914, known as the Federal Trade Commission Act, as amended (15 U.S.C. 41 et seq.), shall be applicable to the business of representing buyers and sellers in the real estate transactions commonly understood and regulated and licensed by states as the business of State licensed real estate brokers or their salespersons or any trade association to which they may belong to the extent that such business is not regulated by State law.