Nebraska Bans Right-to-list Home Sale Agreements

Nebraska recently amended its Real Estate License Act to prohibit real estate brokers or salespersons from offering or entering into a “right-to-list home sale agreement.”  A right-to-list home sale agreement is an agreement by the owner of residential real estate to provide another person with the exclusive right to list such residential real estate for sale at a future date in exchange for monetary consideration or an equivalent to monetary consideration and either states (i) that the agreement runs with the land or otherwise purports to bind future owners of such residential real estate, or (ii) purports to be a lien, encumbrance, or other real property security interest.  The law now makes such agreements illegal because they restrict future owners’ ability to choose their listing agent freely.  Nebraska also amended its Uniform Deceptive Trade Practices Act to make offering or entering into a right-to-list home sale agreement a deceptive trade practice.

These amendments became effective on April 15, 2024.