(JUNEAU) - New legislation addressing how real estate licensees represent consumers, including the problem of "dual agency" in real estate transactions, passed the House Thursday and is now before the Senate for consideration. House Bill 29 is sponsored by Rep. Norman Rokeberg (R-Anchorage).

Rokeberg said, "This is a culmination of two years of work by the Alaska Association of Realtors task force to draft a bill that will clarify the relationships between consumers and real estate licensees in the state. It eliminates dual agency, which has become troublesome and does not serve the consumer well. HB 29 increases consumer protection in Alaska and enables real estate practitioners to better serve the public."

The bill outlines the steps that a real estate licensee must take to avoid "dual agency". "Dual agency" is a long-held legal concept wherein a licensee represents both the seller and the buyer in a transaction. The practice has become cumbersome, subject to litigation, and impossible for most consumers and real estate licensees to fully understand. HB 29 will solve this problem through notification, opt-in written agreement (where a licensee may act as a "neutral licensee"), and distribution of a written pamphlet describing the duties and rights of all parties.

Additional consumer protections are included that limit the consumer's potential liabilities, clarifies the duties owed to consumers, and places these into statute.

HB 29 awaits action in the Senate.

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