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Home » US Law » 2022 New Hampshire Revised Statutes » Title XXX - Occupations and Professions » Title 331-A - New Hampshire Real Estate Practice Act

Section 331-A:1 – Purpose.

    331-A:1 Purpose. – It is the policy of this state to regulate the practice of real estate brokers and salespersons in order to ensure that they meet and maintain minimum standards which promote public understanding and confidence in the business of real estate brokerage. Source. 1993, 348:1, eff. Jan. 1, 1994.

Section 331-A:10 – Qualifications for Licensure.

    331-A:10 Qualifications for Licensure. – I. The commission, or designee, shall issue a salesperson’s license to any applicant who: (a) Has attained the age of 18; (b) Has successfully completed an examination administered or approved by the commission which demonstrates satisfactory knowledge and understanding of the principles of real estate practice. The executive director […]

Section 331-A:10-a – Criminal Records Check.

    331-A:10-a Criminal Records Check. – I. All applicants for a new salesperson or broker license shall submit to the New Hampshire department of safety, division of state police, a public criminal history record information authorization form, along with the appropriate fee, prior to submitting an application for a real estate license. In addition, the […]

Section 331-A:11 – Examinations.

    331-A:11 Examinations. – I. Any applicant seeking an original salesperson’s or broker’s license shall first pass a reasonable written examination as to the applicant’s qualifications to be a salesperson or broker. II. The form and style of the examination, as well as the preparation, grading and administration of the examination, shall be the responsibility […]

Section 331-A:11-a – Recognition for Licensure.

    331-A:11-a Recognition for Licensure. – If an applicant holds an active real estate license in good standing, issued by passing the national and state examinations in accordance with the laws of another jurisdiction, that applicant may apply for a New Hampshire license with the same equivalent status as currently licensed in the qualifying jurisdiction […]

Section 331-A:12 – Application for Licensure.

    331-A:12 Application for Licensure. – I. Applications for licenses shall be made on forms adopted by the commission. II. The form for an individual applying for a license shall include affidavits from 3 character references. No person who is related by blood or marriage to an applicant may serve as a character reference on […]

Section 331-A:12-a – Inactive Licensure Status.

    331-A:12-a Inactive Licensure Status. – I. Any licensee who does not want to perform as a broker or salesperson as defined in RSA 331-A:2, and who wants to preserve the license while not engaged in any brokerage activities, including making any referrals for commission or for other compensation, or for the promise of such […]

Section 331-A:13 – Escrow Accounts of Broker; Interest; Audit.

    331-A:13 Escrow Accounts of Broker; Interest; Audit. – I. The principal broker shall maintain an escrow account or accounts, separate and apart from the individual or office account, in which all deposits on fully executed contracts shall be promptly deposited. The escrow account or accounts shall be maintained in an insured financial institution within […]

Section 331-A:14 – Bonds.

    331-A:14 Bonds. – No principal or managing broker’s license shall be issued or renewed until the applicant gives to the commission a surety bond in any form approved by the commission in a sum of not less than $25,000, executed by the applicant and by a surety company authorized to do business in this […]

Section 331-A:15 – Issuance of License; Certificates.

    331-A:15 Issuance of License; Certificates. – I. Upon receiving the completed application, the required fee and evidence that all other requirements have been met, the commission shall issue the appropriate license. Licenses shall expire 2 years from the date of issuance. II. No license shall be issued to a broker doing business under a […]

Section 331-A:16 – Supervision of Real Estate Office; Branch Offices.

    331-A:16 Supervision of Real Estate Office; Branch Offices. – I. Every real estate office or real estate branch office, whether operated as a corporation, partnership or sole proprietorship, shall be directed, supervised and managed by a licensed real estate broker. The principal broker shall submit to the commission a branch office application form prior […]

Section 331-A:16-a – Managing Broker Vacancy.

    331-A:16-a Managing Broker Vacancy. – In the event of the death, disability or change of affiliation of the managing broker of a real estate branch office, the principal broker may designate as a manager a person currently licensed with the New Hampshire real estate commission for a period not to exceed one year from […]

Section 331-A:16-b – Commission Payments to Unlicensed Entities.

    331-A:16-b Commission Payments to Unlicensed Entities. – I. A principal broker may pay all or part of a fee, commission, or other compensation earned by his or her firm, broker, associate broker, or salesperson to a partnership, association, limited liability company, limited liability partnership, or corporation only if all of the following conditions are […]

Section 331-A:17 – License Amendments.

    331-A:17 License Amendments. – I. Any principal broker who changes the place of business shall notify the commission of the change in writing within 10 days of the change. II. A real estate principal broker who proposes to use a registered trade name in connection with a firm broker license or individual principal broker […]

Section 331-A:18 – Lapse of License.

    331-A:18 Lapse of License. – I. If a license is not renewed before the expiration date, then the license is deemed to have expired, and a licensee may renew an expired license up to 6 months after its expiration date by complying with the requirements of RSA 331-A:19 and by submitting the required late […]

Section 331-A:19 – Renewal of License.

    331-A:19 Renewal of License. – I. The commission shall mail each licensee a renewal notice or, at the licensee’s request, the commission may provide the renewal notice by other means acceptable to the commission, at least 60 days before expiration of the license. II. Upon receiving a completed renewal application, the required fees, certification […]

Section 331-A:2 – Definitions.

    331-A:2 Definitions. – In this chapter: I. " Advance fees " mean any fees charged for services including, without any limitation, any fees charged for listing, advertising, or offering for sale or lease any real property. Advance fees shall not include fees paid solely for advertisement in a newspaper or other publication of general […]

Section 331-A:20 – Programs of Study; Preparatory Education; Continuing Education.

    331-A:20 Programs of Study; Preparatory Education; Continuing Education. – I. An individual, institution, or organization seeking accreditation or renewal of accreditation to offer a preparatory or continuing education program of study shall meet criteria and submit documentation as required by the commission prior to approval. The commission shall require any individual, institution, or organization […]

Section 331-A:21 – Temporary Licenses.

    331-A:21 Temporary Licenses. – In the event of the death or total incapacity of a licensed real estate principal broker of a real estate business, the commission may, upon application by the principal broker’s legal representative, issue without examination a temporary license to such legal representative or to an individual designated by the legal […]

Section 331-A:22 – Nonresidents.

    331-A:22 Nonresidents. – I. A nonresident of this state may become a broker or salesperson in this state by conforming to all of the conditions of this chapter applicable to residents of this state. II. Upon making application, such nonresidents shall file an irrevocable consent and power providing that legal actions may be commenced […]