AI-assisted research summary: This provision defines “real estate broker” as a person acting for another for compensation who performs certain real-estate-related activities.
As used in this chapter, “real estate broker” means a person acting for another for a fee, commission, or other compensation or promise, whether it be for all or part of a person’s time, and who engages in any of the following acts: 1. Sells, exchanges, purchases, rents, or leases real estate. 2. Lists, offers, attempts, or agrees to list real estate for sale, exchange, purchase, rent, or lease. 3. Advertises or holds oneself out as being engaged in the business of selling, exchanging, purchasing, renting, leasing, or managing real estate. 4. Negotiates, or offers, attempts, or agrees to negotiate, the sale, exchange, purchase, rental, or lease of real estate. 5. Buys, sells, offers to buy or sell, or otherwise deals in options on real estate or improvements on real estate. 6. Collects, or offers, attempts, or agrees to collect, rent for the use of real estate. 7. Assists or directs in the procuring of prospects, intended to result in the sale, exchange, purchase, rental, or leasing of real estate. 8. Assists or directs in the negotiation of any transaction intended to result in the sale, exchange, purchase, rental, or leasing of real estate. 9. Prepares offers to purchase or purchase agreements, listing contracts, buyer’s representation agreements, agency disclosures, real property residential and agricultural rental agreements, real property commercial rental agreements of one year or less, and groundwater hazard statements, including any modifications, amendments, or addendums to these specific documents. [C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §117.3] C93, §543B.3 95 Acts, ch 170, §2; 2002 Acts, ch 1031, §1; 2024 Acts, ch 1052, §1; 2024 Acts, ch 1072, §1, 3, 4; 2024 Acts, ch 1154, §26, 27, 30 Referred to in §543B.5, 543B.6, 543B.7, 543B.7A, 543B.43, 543B.62 2024 amendment to unnumbered paragraph 1 applies to proceedings before the real estate commission created in section 543B.8, other administrative proceedings before a state agency or department and judicial proceedings before a court that are not finally adjudicated or are pending on April 19, 2024, except to the extent such application would affect a person’s contractual or vested rights; 2024 Acts, ch 1072, §4; 2024 Acts, ch 1154, §26