§ 43-23-07 — Real estate brokers and salespersons - Exceptions

1. The term "real estate broker" or "real estate salesperson" does not include:
a. Any person, partnership, association, corporation, or limited liability company who
is a bona fide owner or lessor or who accepts or markets leasehold interests in
residential or agricultural property and performs any of the aforesaid acts with
reference to property owned or leased by them, nor does it apply to regular
employees thereof, when the acts are performed in the regular course of or as an
incident to the management of the property and the investment therein.
b. An attorney at law, admitted to practice in this state, handling sales of real estate
in the course of estate or guardianship administration in district court, or trust
administration, bankruptcy proceedings, receiverships, or like actions subject to
approval by a court of competent jurisdiction, or sales of real estate arising in the
usual course of the practice of law.
c. Any person selling real estate as an auctioneer, provided the sale is advertised as
a bona fide public auction.

d. Any bank or trust company or any of its officers or employees in the performance
of their duties as an officer or employee of the bank or trust company.
e. Any person holding in good faith a duly executed power of attorney from the
owner, authorizing a final consummation and execution for the sale, purchase,
lease, or exchange of real estate when such acts are not of a recurrent nature
and done with the intention of evading this section.
f. Any person while acting as a receiver, trustee, administrator, executor, guardian,
or under court order, or while acting under authority of a deed, trust, or will.
g. Public officers while performing their duties.
2. This section does not exempt from the definition of "real estate broker" or "real estate
salesperson" for consideration publicly marketing for sale an equitable interest in a
contract for the purchase of real property between a property owner and a prospective
purchaser.