If you want to see the temperature rise in a roomful of Realtors, just say the words, “mandatory sales price disclosure.” The topic provides for heated discussion – as does any mention of property taxes, these days. But State Rep. Diego M. Bernal (D-San Antonio) introduced two pieces of mandatory disclosure legislation this session, which may, in the end, give us something to agree on.
One bill, HB 379, calls for mandatory sales price disclosure and outlines penalties. We’ve seen legislation like this before. It’s nothing new. The other, HB 182, relates to a detailed study of the effects that mandatory sales price disclosure would have on Texas’ economy. HB 182 winds up being the much more compelling of the two bills, and Bernal hopes it holds the power to bridge the aisle and bring our understanding of the issue into sharper focus.
We spoke with Rep. Bernal about the proposed legislation and the change he ultimately hopes to bring. It’s a bit of a long read, but in our opinion, worth your time.