CHAPTER Rea 400 CONTINUED STATUS
Rea 401.01 Renewals of License. (a) Applicants for renewal of a broker's license shall use Form 6-RE and provide the following:(1) Full legal name;
(2) Date of birth;
(3) Resident physical address;
(4) Resident mailing address;
(5) Resident telephone number;
(6) Name of principal broker or firm the applicant is associated with, if applicable;
(7) Business name, if applicable;
(8) Business physical address, if applicable;
(9) Business mailing address, if applicable;
(10) Business telephone number, if applicable;
(11) License status;
(12) Type of broker license requested;
(13) Firms and/or trade names that the broker owns or operates;
(14) Physical and mailing addresses of the firms and/or trade names;
(15) Whether the firms and/or trade names are registered and in good standing with the New Hampshire secretary of state's office;
(16) Whether the firms and/or trade names are licensed with the New Hampshire real estate commission;
(17) Actions involving any bankruptcies, insolvency proceedings, or compromises with creditors since the licensee's last original or renewal application;
(18) Information regarding any current undischarged court judgments or liens;
(19) All criminal convictions for misdemeanor or felony offenses since the licensee's last original or renewal application;
(20) Information on matters which may affect the applicant's good repute or trustworthiness or affect public confidence since the licensee's last original or renewal application;
(21) Any real estate licensees that have been subject to disciplinary actions in any state since the licensee's last original or renewal application;
(22) Signature of principal broker applicants giving permission for the real estate commission to audit the principal broker's escrow account or accounts;
(23) Notarized signature of applicant; and
(24) Associate Broker Affiliation Form, if applicable.
(b) Applicants for renewal of a salesperson's license shall use Form 7-RE and provide the following:
(1) Full legal name;
(2) Date of birth;
(3) Resident physical address;
(4) Resident mailing address;
(5) Resident telephone number;
(6) License status;
(7) Name of principal broker or real estate firm the applicant is associated with, if applicable;
(8) Business name, if applicable;
(9) Business physical address, if applicable;
(10) Business mailing address, if applicable;
(11) Actions involving any bankruptcies, insolvency proceedings, or compromise with creditors since the licensee's last original or renewal application;
(12) Information regarding any current undischarged court judgments or liens;
(13) All criminal convictions for misdemeanor or felony offenses since the licensee's last original or renewal application;
(14) Information on matters which may affect the applicant's good repute or trustworthiness or affect public confidence since the licensee's last original or renewal application;
(15) Any real estate licenses that have been subject to disciplinary actions in any state since the licensee's last original or renewal application;
(16) Notarized signature of the applicant; and
(17) Salesperson Affiliation Form.
(c) All broker and salesperson renewal applicants shall complete continuing education requirements pursuant to Rea 403.01.
(d) Each renewal applicant and each licensee who is applying to have her or his license placed on active status shall submit a continuing education certificate pursuant to RSA 331-A:19, containing the following:
(1) Name, address, license number, and signature of renewal applicant;
(2) Name and location of continuing education program;
(3) Date and number of class hours obtained; and
(4) Name and signature of program instructor.
(e) Principal broker and managing broker applicants shall submit to the commission a surety bond in the sum of $25,000 to run concurrently with the dates of licensure, executed by the applicant and by a surety company authorized to do business in the state of New Hampshire.
(f) All applicants for renewal of a broker license as a firm shall supply the following on or with Form 4-RE:
(1) The firm name as registered with the New Hampshire secretary of state's office;
(2) Physical address of the firm;
(3) Mailing address of the firm;
(4) Business telephone number;
(5) Trade name(s) as registered with the NH secretary of state's office in which the firm transacts business;
(6) Date trade name(s) expires;
(7) All officers or partners and titles within the firm;
(8) Physcial resident address of all officers or partners;
(9) All officers' or partners' designations as salespersons or brokers if participating in the business of real estate brokerage;
(10) Principal broker's name and broker license number;
(11) Principal broker's surety bond company name and bond number;
(12) Names and license numbers of licensees working at the firm;
(13) Branch office locations;
(14) Notarized signature of the principal broker;
(15) Power of Attorney form for non-resident firms; and
(16) A current certificate for the firm from the New Hampshire secretary of state's office.
(g) All applicants for renewal of a broker license as a firm branch shall supply the following on or with Form 10-RE:
(1) The firm name as registered with the NH secretary of state's office;
(2) Physical address of the firm branch;
(3) Mailing address of the firm branch;
(4) Trade name(s) as registered with the NH secretary of state's office in which the firm branch transacts business;
(5) Date trade name(s) expires;
(6) Managing broker's name and broker license number;
(7) Managing broker's surety bond company name and bond number;
(8) Names and license numbers of licensees working at the firm branch;
(9) Notarized signature of the principal broker of the firm;
(10) Notarized signature of the managing broker of the firm branch; and
(11) Power
of Attorney Form for non-resident firm branches.
| Source. #7265, eff 5-6-00; rpld by #7521, eff 6-28-01 |
Rea 403.01 Continuing Education Requirements.
(a) All active and inactive renewal applicants shall complete a minimum 3 hour continuing education core program that has been accredited by the commission pursuant to Rea 302.01.
(b) All renewal applicants whose licenses are on active status, and inactive licensees who are applying to have their licenses placed on active status, shall complete an additional 9 hours of continuing education elective courses accredited by the commission pursuant to Rea 302.01
(c) All applicants, when submitting an application for renewal of a broker or salesperson license prior to the expiration date of the license, shall have completed the continuing education required in (a) and (b) above within the current 2 year license period.
(d) All applicants, when submitting an application for renewal of a broker or salesperson license after the expiration date of the license, shall have completed the continuing education required in (a) and (b) above within the prior 2 year license period, but no later than the late renewal period allowed under RSA 331-A:18.
| Source. #7265, eff 5-6-00; ss by #7521, eff 6-28-01; ss by #9301, eff 10-22-08 |
PART Rea 404 ONGOING REQUIREMENTS
Rea 404.01 Sign on Office. A broker's
business sign to identify her or his business office shall be displayed outside her or his
real estate office, providing that such a sign is permitted by local zoning ordinances,
and shall be of a reasonably visible size.
Rea 404.02 Change of Addresses and Names.
(a) Each licensee and firm shall at all times keep the commission informed of their current resident address, mailing address, work location address, legal name, or trade names.
(1) Previous and current resident address;
(2) Previous and current business address;
(3) Previous and current legal name;
(4) Previous and current trade names; and
(5) Previous and current principal broker.
(c) Whenever a licensee changes his or her affiliation from one principal broker to another, or ceases to represent a principal broker, the principal broker shall notify the commission, in writing, no later than 5 days after the change along with a Form 5-RE.
(d) An amendment fee shall be submitted for any changes listed in (a) through (c) above that require the salesperson, broker, firm or firm branch license to be amended.
(e) Should a broker or salesperson change her or his
status to nonresident broker or salesperson, she or he shall file an irrevocable consent
and power authorizing the commission to act as specified in RSA 331-A:22.
Rea 404.03 Copies of Written Instruments.
(a) A broker shall, after execution by all parties, deliver the original of any instruments to any party or parties executing the same without delay when:
(1) Such instrument has been prepared by such broker or under her or his supervision;
(2) Such instrument relates to the employment of the broker;
(3) Such instrument pertains to the consummation of a lease, purchase, sale or exchange of real property; or
(4) Such instrument pertains to any
other type of real estate transaction in which a broker participates.
Rea 404.04 Brokerage Contracts.
(a) No broker or salesperson shall act on behalf of a seller or lessor with regard to negotiating the sale, purchase, exchange or lease of any real estate or of the improvements thereon, collect rents, or attempt to collect rents without a written contract signed by all parties.
(b) The listing contract in (a) above shall contain the following provisions:
(1) The date of execution;
(2) The address, location, description and asking price of the real estate to sell, exchange, purchase or lease;
(3) The names and addresses of all parties to the contract;
(4) The professional fee stated as a dollar amount, percentage or other specific consideration; and
(5) The date the contract expires.
(c) Consent to designated agency shall be obtained within the listing agreement, pursuant to RSA 331-A:25-e, II.
(d) Consent to dual agency showings may be obtained within the listing agreement by a separate dated signature of the seller/landlord.
(e) Any provisions to extend the contract in (a) above for a specific period of time shall be agreed upon in writing by all parties to the contract.
(f) Net listings shall be prohibited. "Net listing" means a listing wherein the commission to be received is the difference between the selling price and a minimum selling price acceptable to the seller.
(g) No broker or salesperson shall act on behalf of a buyer or lessee with regard to the purchase, exchange or lease of any real estate or of the improvements thereon without a written contract signed by all parties.
(h) The buyer agency/tenant representation contract in (g) above shall contain the following provisions:
(1) The date of execution; (2) General description, location and price range of real estate sought; (3) The names and addresses of all parties to the contract; (4) The professional fee stated as a dollar amount, percentage, or other specific consideration; and (5) The date the contract expires.(i) Consent to designated agency shall be obtained within the buyer agency/tenant representation contract, pursuant to RSA 331-A:25-e, II.
(i) Consent to dual agency showings may be obtained within the buyer agency/tenant representation contract by a separate dated signature of the buyer/tenant.
(k) Any provisions to extend the contract in (g) above for a specific period of time shall be agreed upon in writing by all parties to the contract.
(l) A licensee may act as a disclosed dual agent only with the written informed consent of all parties.
(1) The date of execution;
(2) The date of the listing contract and date of the buyer agency/tenant representation contract;
(3) The names and addresses of all parties to the agreement and the real estate agency;
(4) A clear statement of the disclosed dual agent's duties pursuant to RSA 331-A:25-d;
(5) A statement that the disclosed dual agency informed consent agreement shall not be extended beyond the dated listing contract and the dated buyer agency/tenant representation contract without the necessary extensions, pursuant to Rea 404.04(e) and (k); and
(6) The date the disclosed dual agency informed consent agreement expires.
(n) If consent to
dual agency showings is not obtained on the listing contract or buyer agency/tenant
representation contract, then consent to dual agency may be obtained at a later date but
only in accordance with Rea 404.04(l).
Rea 404.05 Advertisements.
(a) A broker shall not advertise the sale, purchase, exchange, or lease of real property, other than the sale, exchange or lease of her or his own real property, in a manner indicating the offer to sell, purchase, exchange or lease is being made by a principal. Every such advertisement shall clearly indicate that it is an advertisement of a principal broker, pursuant to RSA 331-A:16, IV.
(b) A salesperson or broker shall not advertise the
sale, purchase, exchange or lease of real property for another or others without including
in the advertisement the name of the real estate brokerage firm with which he or she is
associated, or the name of that licensee's principal broker, pursuant to RSA 331-A:16, IV.
| Source. #2130, eff 8-30-82; ss by #2847, eff 9-19-84, | |
| EXPIRED: 9-19-90 | |
| New. #5575, eff 2-11-93, EXPIRED: 2-11-99 | |
| New. #7163, INTERIM, eff 12-18-99, EXPIRED: 4-16-00 |
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| New. #7265, eff 5-6-00; ss by #7521, eff 6-28-01; ss by #9301, eff 10-22-08 | |
| Latest Update 01/22/09 |