New Hampshire. Address: New Hampshire Real Estate Commission 64 South Street Concord, NH

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1 New Hampshire Gverning Agency New Hampshire Real Estate Cmmissin Website: Address: New Hampshire Real Estate Cmmissin 64 Suth Street Cncrd, NH Telephne N.: (603) License/Activity Law Licensing statute fund in Chapter 331-A f the Revised Statutes Anntated (RSA). Rules and regulatins fund in New Hampshire Cde f Administrative Rules (CAR). Referral Fee/ Cmmissin Sharing/Cperating Agreements A licensed New Hampshire brker may cperate with a nn-new Hampshire brker n prperties lcated in this state prvided that bth brkers agree in writing t all f the terms expressed in a cperating agreement prir t the cmmencement f any brkerage activity. CAR (a); see RSA 331-A:22-a(II),(III), and (IV). T cmply with CAR (a), New Hampshire brkers shall btain frm the cmmissin, a Cperating Agreement with a Nn-New Hampshire Brker Frm. CAR (c). The New Hampshire brker shall cmplete the Cperating Agreement Frm, by supplying the infrmatin required in CAR (d). The cmmissins r ther cmpensatins resulting frm the purchase, rent, lease, f the prperty and which are earned during the perid the agreement is in frce shall be divided between the New Hampshire brker and the nn-new Hampshire brker n a negtiable basis. CAR (e). 1

2 Acts requiring license It shall be unlawful fr any persn, directly r indirectly, t act as a real estate brker r real estate salespersn withut a license and therwise cmplying with the prvisins f this chapter. RSA 331-A:3. RSA 331-A:2(III) lists the fllwing as brker acts: (a) Sells, exchanges, purchases, rents, r leases real estate. (b) Offers t sell, exchange, purchase, rent r lease real estate. (c) Negtiates, ffers, attempts r agrees t negtiate the sale, exchange, purchase, rental r leasing f real estate. (d) Lists, ffers, attempts r agrees t list real estate fr sale, lease r exchange. (e) Buys, sells, ffers t buy r sell, r therwise deals in ptins n real estate r imprvements n real estate. (f) Cllects, ffers, attempts r agrees t cllect rent fr the use f real estate. (g) Advertises r hlds neself ut as being engaged in the business f buying, selling, exchanging, renting r leasing real estate. (h) Assists r directs in the prcuring f prspects, calculated t result in the sale, exchange, lease, r rental f real estate. (i) Assists r directs in the negtiatin f any transactin calculated r intended t result in the sale, exchange, leasing r rental f real estate. (j) Engages in the business f charging an advance fee in cnnectin with any cntract whereby the persn undertakes t prmte the sale r lease f real estate, thrugh its listing in a publicatin r data base issued fr such purpse, thrugh referral f infrmatin cncerning such real estate t brkers, r bth. Cmmissin created a list f what unlicensed assistants can d: 1. Give general infrmatin abut listed prperties such as lcatin, availability and price (again, withut any slicitatin n behalf f the assistant); 2. Perfrm clerical duties, which may include answering the telephne and frwarding calls; 2

3 Reciprcity 3. Fill ut and submit listings and changes t multiple listing services; 4. Type cntract frms fr apprval by licensee and supervising brker; 5. Pick up and deliver paperwrk t ther brkers and salespersns; 6. Fllw-up n lan cmmitments after a cntract has been negtiated, and pick up and deliver lan dcuments requiring signatures; 7. Obtain status reprts n a lans prgress; 8. Assemble clsing dcuments; 9. Obtain required public infrmatin frm the Registry f Deeds, public utilities, etc.; 10. Write advertising fr apprval by the licensee and supervising brker, and arrange t place the advertising; 11. Have keys made fr cmpany listings, and place signs n listed prperty; 12. Attend pen huses t prvide security, and hand ut pre-apprved prmtinal material; 13. Gather infrmatin required fr a Cmparative Market Analysis; 14. Schedule appintments fr licensee t shw a listed prperty; and 15. Chauffeur clients t view prperties which will be shwn by the licensee. A gd general rule is that an unlicensed assistant shuld have very little cntact with the buyer r seller beynd prviding secretarial assistance r factual infrmatin n listings. If an applicant hlds an active real estate license in gd standing, and issued by examinatin in accrdance with the laws f anther jurisdictin, that applicant may apply fr an riginal New Hampshire license by first taking the New Hampshire prtin f the licensing examinatin, prvided the jurisdictin that issued such nnresident license has previusly entered int a licensing reciprcity agreement which has been apprved by the cmmissin, and prvided that ther requirements f the cmmissin have been met. This sectin applies t nnresident salespersn applicants nly when such applicants are applying fr an riginal New Hampshire salespersn license. RSA 331-A:11-a. 3

4 Candidates wh apply fr the brker examinatin based n being licensed in anther state fr at least ne calendar year shall submit a certificate f gd standing frm the licensing authrity f the state in which they are r were licensed alng with their examinatin registratin. CAR (c). License Types Individuals may be licensed as a Brker r Salespersn "Brker" means any persn acting fr anther n cmmissin r fr ther cmpensatin, fr the prmise f such cmmissin r ther cmpensatin, r any persn licensed under this chapter wh perfrm (a-j). RSA 331-A:2(III). Applicatin prcedure: CAR ; Applicatin frm: CAR (a). "Principal brker" means the individual brker, including the brker designated by a crpratin, partnership r assciatin, whm the New Hampshire real estate cmmissin hlds respnsible fr the actins f licensees wh are assigned t such individual brker. RSA 331-A:2(VIII). "Assciate brker" means any persn wh is licensed as a real estate brker, but wh is emplyed by a principal brker r under cntract, expressed r implied, t a principal brker and in additin perates under the supervisin f a principal brker t participate in any activity described in paragraph III f this sectin. RSA 331-A:2(I-c). "Salespersn" means an individual wh is licensed under a brker t participate in any activity described in paragraph III f this sectin. RSA 331-A:2(X). Applicatin prcedure: CAR ; Applicatin frm CAR (b). Real estate business entities, such as crpratins r partnerships, must be issued a real estate license in New Hampshire befre being allwed t practice real estate brkerage. "General Licensing Infrmatin" All members and fficers f a crpratin, partnership r assciatin, wh actively participate in the business f real estate brkerage, shall pssess an active brker's r salespersn's license. RSA 331-A:16(III). 4

5 A freign crpratin rganized under the laws f anther state shall be registered with the New Hampshire secretary f state pursuant t RSA 293-A in rder t d business in New Hampshire. CAR (a). A Frm 3-RE shall be filed with the New Hampshire real estate cmmissin by the principal brker in rder t have its New Hampshire real estate license issued in its crprate name. CAR (b). See CAR (c) fr fifteen (15) items cntained in frm 3-RE. "Firm" means any sle prprietrship, partnership, assciatin, crpratin, limited liability cmpany, r ther business assciatin engaged in the sale r lease f real estate r which emplys licensees under this chapter. CAR (e); RSA 331-A:2(V-b). Applicatin prcedure: CAR ; Applicatin frm: CAR (c). Misc./Advertising Supervisin f ffices. Every real estate ffice r real estate branch ffice, whether perated as a crpratin, partnership r sle prprietrship, shall be directed, supervised and managed by a licensed real estate brker. RSA 331-A:16(I). The principal brker shall designate a managing brker fr each branch ffice the principal brker pens. RSA 331-A:16(I). RSA 331-A:16(I). All licensees and emplyees assciated with a real estate ffice shall be supervised n site by the principal brker r managing brker. RSA 331-A:16(II). Advertising All advertisements by a brker r salespersn shall include the brker's r salespersn's legal name r reasnable derivative theref and the regular business name f the firm r the principal brker's name when licensed under an individual principal brker license. The firm r principal brker's name, within the advertisement, shall be clearly identifiable. This requirement shall apply t all categries f advertising including all publicatins, radi r televisin bradcasts, all electrnic media including electrnic mail and the Internet, business statinery, business and legal frms and dcuments, and signs and billbards. RSA 331- A:16(IV)(a). 5

6 Any advertising which cntains a hme telephne number, cell-phne number, beeper r pager number, hme fax number, direct ffice number, electrnic mail address, r any ther means f cntacting directly an individual salespersn r brker, r a team f such licensees, shall als include the name and telephne number f the individual principal brker r brkerage firm thrugh which the advertising licensees perate. All such advertising shall cntain language clearly identifying each number included in the advertising. RSA 331-A:16(IV)(b). 6