A
draft bill in Illinois aims to require licensed agents to list properties on a public platform within 24 hours of signing a brokerage agreement. The bill, HB3452, seeks to modify the state's Real Estate License Act to include new requirements for listing properties on the MLS or another publicly accessible website.

    Key supporters of the bill include State Representative Lilian Jiménez and Zillow, which sees value in adding "safeguards" to protect Illinois consumers. However, Illinois Realtors suggests that the effort is an attempt to codify a real estate portal's business model into state law.

    The bill would allow for private listings with stricter disclosure requirements, but critics argue that it could harm buyers and sellers by limiting access to properties. Some industry leaders believe that private exclusives are about seller choice and that new laws may not be the answer.

    Jiménez hopes to continue pushing the bill forward, citing concerns over fair housing and ensuring all buyers can access available homes. Zillow will continue working with stakeholders to "safeguard and enhance fair and transparent access" to properties.

    A Chicago brokerage leader criticizes the push for private listings as a "fear-based recruiting" tactic aimed at gaining market share. The bill's opponents argue that it could lead to more regulations, not fewer, and that Illinois Realtors' legislative agenda is focused on reducing red tape in the housing industry.