Key Legislative Priority Moves Out of Senate Committee

A top priority bill of the Pennsylvania Association of Realtors® was approved by a Senate Committee on April 30. Senate Bill 1173 (Stefano, R-Fayette) was approved by the Senate Consumer Protection and Professional Licensure Committee by a 13-1 vote.

SB1173 would require a real estate salesperson license in order to conduct residential wholesale transactions in the commonwealth. The legislation is a culmination of efforts of the PAR Legislative Committee and a Wholesaling Task Force of members.

The bill is sponsored by Sen. Pat Stefano (R-Fayette), the chair of the Senate Consumer Protection and Professional Licensure Committee, a Realtor® champion and a member of PAR’s Real Estate Caucus.

In addition to amending the Real Estate Licensing and Registration Act to require a license, SB1173 also ensures that consumers are made aware they are engaging in a wholesale transaction by receiving proper disclosures.

Residential wholesaling occurs throughout Pennsylvania, and this legislation brings much-needed uniformity by ensuring that persons engaging in wholesale transactions are licensed to practice real estate. The disclosure requirements for wholesale transactions also bring transparency to the current process, which can often be confusing and unclear.

SB1173 now moves to the full Pennsylvania Senate for consideration. Please watch for updates in future JustListed articles or check out our legislative priorities webpage.