Realtors® Advocate at Capitol for Senate Bill 1173

This week, approximately 250 Pennsylvania Realtors® headed to the capitol for more than 110 legislative visits to thank senators for their support of Senate Bill 1173 (Stefano, R-Fayette), which they passed on June 4, and to advocate for its passage by the Pennsylvania House.

PAR’s PA Realtor® Day on the Hill invites Realtors® from across the commonwealth to gather together and advocate for homeownership-related issues. This year, Realtors® met with lawmakers in Harrisburg to stress the importance of SB 1173 and its passage.

SB 1173 would require a real estate salesperson license under the Real Estate Licensing and Registration Act (RELRA) to conduct residential wholesale transactions in Pennsylvania.

Sen. Pat Stefano said,  “Other real estate transactions require the agent to have proper licensing, which safeguards all parties involved. Currently, buyers – who may not even know they’re in a wholesale transaction transaction – don’t have those protections. Real estate is typically the biggest asset in a person’s life and Pennsylvanians deserve to have all relevant information rather than be tricked into a sale.”

SB 1173 would also ensure that consumers are made aware they are participating in a wholesale transaction by receiving proper disclosures and that they have the right to seek an appraisal and cancel the contract.

“Residential wholesaling of real estate has become prevalent in recent years, often at the expense of the most vulnerable,” Sen. Greg Rothman (R-Cumberland) said. “Senate Bill 1173 would ensure that both homeowners and homebuyers are fully informed of their rights and are equipped to make well-educated decisions.”

On the Hill, Pennsylvania Realtors® discussed with lawmakers the ways SB 1173 would create uniformity to residential property transfers, bring transparency to residential wholesale transactions and establish accountability for wholesalers.

“Senate Bill 1173 is a key legislative priority for the Pennsylvania Association of Realtors®,” PAR President Preston Moore said. “It’s amazing to see so many Realtors® show up to advocate for legislation they believe will bring uniformity and transparency and improve the real estate industry.”

Learn more about PAR’s legislative priorities here.