A measure that would require written brokerage agreements for all real estate transactions in Guam was the subject of a public hearing at the Guam Legislature on Tuesday.
Bill 77-38, introduced by Sen. Telo Taitague, seeks to strengthen consumer protection and promote transparency in Guam’s real estate industry. If passed, the bill would mandate clear, written agreements between brokers and clients before any services begin, whether buying, selling, leasing, or renting property.
“The intent of this bill is to create a level playing field by ensuring that clear written agreements are in place before any brokerage service begins,” said Taitague. “This helps avoid misunderstandings and protects all parties involved.”
The proposed bill follows changes in national real estate practices after recent litigation involving the National Association of Realtors. The bill mirrors reforms that are becoming standard across the U.S., aligning Guam’s policies with other jurisdictions.
Although no in-person testimony was given during the hearing, written statements were submitted by industry professionals. The Guam Real Estate Association was also invited to participate.
According to a fiscal note, the bill is administrative and would not impose any additional costs.
Taitague’s office will continue accepting public comments for the next 10 working days.
