2023 New Hampshire Revised Statutes › Title XXX - Occupations and Professions › Chapter 331-A - New Hampshire Real Estate Practice Act › 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 circulation, including electronic publications.
I-a. "Agency" means a fiduciary relationship between a principal and an agent arising out of a brokerage agreement whereby the agent is engaged to do certain acts on behalf of the principal in dealings with a third party.
I-b. "Appointing agent" means a broker named by the principal broker who appoints individual real estate licensees to represent either the buyer or tenant, or the seller or landlord, in an office of a firm that practices designated agency.
I-c. "Associate broker" means any person who is licensed as a real estate broker, but who is employed by a principal broker or under contract, expressed or implied, to a principal broker and in addition operates under the supervision of a principal broker to participate in any activity described in paragraph III of this section.
II. "Branch office" means a real estate broker's office other than the principal place of business.
III. "Broker" means any person acting for another on commission or for other compensation, for the promise of such commission or other compensation, or any person licensed under this chapter acting on the licensee's own behalf who:
(a) Sells, exchanges, purchases, rents, or leases real estate.
(b) Offers to sell, exchange, purchase, rent or lease real estate.
(c) Negotiates, offers, attempts or agrees to negotiate the sale, exchange, purchase, rental or leasing of real estate.
(d) Lists, offers, attempts or agrees to list real estate for sale, lease or exchange.
(e) Buys, sells, offers to buy or sell, or otherwise deals in options on real estate or improvements on real estate.
(f) Collects, offers, attempts or agrees to collect rent for the use of real estate.
(g) Advertises or holds oneself out as being engaged in the business of buying, selling, exchanging, renting or leasing real estate.
(h) Assists or directs in the procuring of prospects, calculated to result in the sale, exchange, lease, or rental of real estate.
(i) Assists or directs in the negotiation of any transaction calculated or intended to result in the sale, exchange, leasing or rental of real estate.
(j) Engages in the business of charging an advance fee in connection with any contract whereby the person undertakes to promote the sale or lease of real estate, through its listing in a publication or data base issued for such purpose, through referral of information concerning such real estate to brokers, or both.
III-a. "Brokerage agreement" means a written contract between a principal and a real estate brokerage firm intended to bring parties together for the sale, purchase, exchange, rent, or lease of real estate.
III-b. "Buyer" means a party in the transaction involved in the purchase or exchange of real estate.
III-c. "Buyer agent" means a licensee acting on the behalf of a buyer or tenant in the purchase, exchange, rent, or lease of real estate.
IV. "Commission" means the New Hampshire real estate commission.
IV-a. "Commercial real estate" means any real estate other than real estate containing one to 4 family dwelling units.
IV-b. "Designated agent" means a licensee who has been appointed by an appointing agent to represent one party of a real estate transaction and who owes that party fiduciary duties, whether or not the other party to the same transaction is represented by another individual licensee associated with the same brokerage firm.
IV-c. "Disclosed dual agent" means a licensee acting for more than one party whose interests may differ in a transaction with the knowledge and written consent of all parties for whom the licensee acts.
V. [Repealed.]
V-a. "Facilitator" means an individual licensee who assists one or more parties during all or a portion of a real estate transaction without being an agent or advocate for the interests of any party to such transaction.
V-b. "Firm" means any sole proprietorship, partnership, association, corporation, limited liability company, other business association, or other legal entity.
V-c. "Landlord" means a party in a transaction who owns real estate intended for rental or leasing purposes. For the purposes of this chapter, "landlord" shall also mean "lessor."
V-d. "Licensee" means a broker or salesperson licensed by the New Hampshire real estate commission under the provisions of this chapter.
V-e. "Limited electronic media" means all electronic media that only allow for the presentation of limited amounts of information. Limited electronic media includes, but is not limited to, thumbnails, twitter messages, text messages, and other forms of electronic media existing now or in the future that similarly limit the amount of information that can be presented.
VI. "Managing broker" means a broker who manages a branch office.
VI-a. "Ministerial acts" means acts of an administrative nature which licensees perform including showing property, preparing offers or agreements to sell, purchase, exchange, rent, or lease, and conveying those offers or agreements to the parties and providing information and assistance concerning professional services not related to the provisions of RSA 331-A.
VI-b. [Repealed.].
VI-c. "Out-of-state broker" means a person licensed in another state as a real estate broker who is not licensed as a real estate broker under this chapter.
VI-d. "Out-of-state salesperson" means a person licensed in another state as a real estate licensee who is not licensed as a real estate licensee under this chapter.
VII. "Person" means an individual, sole proprietorship, corporation, partnership, association, limited liability company, other business association, or other legal entity.
VII-a. "Principal" means the party or parties to a real estate transaction who contract the services of a real estate brokerage firm to act on their behalf in a fiduciary relationship.
VIII. "Principal broker" means the individual broker, including the broker designated by a corporation, partnership or association, whom the New Hampshire real estate commission holds responsible for the actions of licensees who are assigned to such individual broker.
IX. "Real estate" means and includes leaseholds or any other interest or estate in land and business opportunities which involve any interest in real estate. It also includes the sale and resale of time share units and manufactured housing units, affixed to real estate.
X. "Salesperson" means an individual who is licensed under a broker to participate in any activity described in paragraph III of this section.
XI. "Seller" means a party in the transaction who owns the real estate intended for the sale, exchange, rent, or lease of real estate.
XII. "Seller agent" means a licensee acting on the behalf of a seller or landlord in the sale, exchange, rent, or lease of real estate.
XIII. "Subagent" means any licensee engaged by the principal broker, under authority granted by the seller, landlord, buyer, or tenant, to perform agency functions on behalf of the seller, landlord, buyer, or tenant.
XIV. "Tenant" means a party who has entered, or is intending to enter, into a rental or lease arrangement with a landlord. For purposes of this chapter, "tenant" shall also mean "lessee."
XV. "Unprofessional conduct" means any action by a licensee or accredited individual, institution, or organization which is unlawful, dishonorable, unethical, or immoral.
Source.
1993, 348:1. 1996, 196:2-8. 2000, 311:1. 2003, 268:1. 2004, 227:1. 2005, 286:1-3. 2008, 12:1-3, 7; 130:1. 2010, 304:1-3. 2011, 134:2. 2014, 261:1. 2015, 276:108, III. 2016, 91:1, 2, eff. July 18, 2016.