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The WA State RE Commission Would Like to Hear From You - SSB 5399

THIRD AND FINAL SURVEY INFORMATION & LISTENING SESSION OPPORTUNITIES  

The Washington State Real Estate Commission would like to hear from you again! 
 
The Commission is collecting information to assess impacts related to Substitute Senate Bill (SSB) 5399 – Concerning future listing right purchase contracts (RCW – 61.38.901), formerly known as 40-year listings.  
 
A 'future listing right purchase contract' means a contract granting an exclusive right to list residential real estate for sale in the future and includes, but is not limited to, any document recorded in the county where the real estate is located relating to the contract including the contract itself, a memorandum concerning the contract, or a deed of trust to secure the terms of the contract. 
 
This is our third and final survey in the series. The survey is anonymous. The information you give will be analyzed to provide recommendations for consumer protections and potential regulations, including potential licensing requirements. The findings will be reported to the state legislature at the end of the year.  
 
If you provide future listing right purchase contracts please use this https://forms.office.com/g/nyVs1vpYiC. 
 
The survey will close June 24, 2024 at 9:29a.m. PST. 
 
For questions, comments, or concerns, please email us at DOLBoards@dol.wa.gov. 
 
THANK YOU for your participation! Listening session information can be found below.

LISTENING SESSION INFORMATION

On behalf of the Commission, the Department of Licensing will be hosting two listening sessions to hear thoughts and opinions concerning: Substitute Senate Bill (SSB) 5399. 
 
We would like to hear from all industry professionals and stakeholders including Washington REALTORS® (WR), Northwest Multiple Listing Services (NWMLS), Brokers and Managing Brokers, industry attorneys and members of the public. Please attend any of the following sessions to voice your concerns. 
 
Things to think about leading up to the listening session: 

• How has SSB 5399 impacted your business? 
• What issues or concerns do you have about SSB 5399 or 'future listing right purchase contracts'? 

Connecting to Each Listening Session: 
 
Date: Friday, June 21, 2024
Time: 10:00 a.m.
Location: Virtual via Microsoft Teams 
Join on Teams App: Click here to join the meeting
Join on the Web: Click here to join via web
Meeting ID: 241 559 677 678
Passcode: 6nLinE
Call In (audio only): 564-999-2000 (Olympia) or 833-322-1218 (Toll-free)
Phone Conference ID: 874 170 006 #
 
Date: Friday, June 28, 2024
Time: 9:00 a.m.
Location: Virtual via Microsoft Teams
Join on Teams App: Click here to join the meeting
Join on the Web: Click here to join via web
Meeting ID: 247 950 574 239
Passcode: FZrtCM
Call In (audio only): 564-999-2000 (Olympia) or 833-322-1218 (Toll-free) 
Phone Conference ID: 772 740 873 #
 
Feel free to reach out to us with any questions at DOLBoards@dol.wa.gov.