§ 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 office a branch office application form prior to the opening of any branch office. The principal broker shall designate a managing broker for each branch office the principal broker opens. The principal broker shall notify the office when any licensee associated with the principal broker transfers from one branch office to another branch office within the same association.
II. All licensees and employees associated with a real estate office shall be reasonably supervised by the principal broker or managing broker.
III. All members and officers of a corporation, partnership or association, who actively participate in the business of real estate brokerage, shall possess an active broker's or salesperson's license.
IV. (a) All advertisements by a broker or salesperson shall include the broker's or salesperson's legal name or reasonable derivative thereof and the regular business name of the firm or the principal broker's name when licensed under an individual principal broker license. The firm or principal broker's name, within the advertisement, shall be clearly identifiable. This requirement shall apply to all categories of advertising including all publications, radio or television broadcasts, all electronic media including electronic mail and the Internet, business stationery, business and legal forms and documents, and signs and billboards.
(b) Any advertising which contains a home telephone number, cell-phone number, beeper or pager number, home fax number, direct office number, electronic mail address, or any other means of contacting directly an individual salesperson or broker, or a team of such licensees, shall also include the name and telephone number of the individual principal broker or brokerage firm through which the advertising licensees operate. All such advertising shall contain language clearly identifying each number included in the advertising.
(c) With respect to limited electronic media, the requirements of subparagraphs (a) and (b) shall be satisfied if the limited electronic media includes a link to an Internet display that contains the required information.

Legislative History

1993, 348:1. 2000, 311:9. 2003, 268:5. 2005, 286:10. 2008, 34:3, 4. 2010, 304:6. 2011, 134:3. 2015, 87:1, eff. Aug. 4, 2015. 2024, 327:243, eff. July 1, 2024.