Regulation of Agency Conduct
Area IV is the other eleven-item block. Its subtopics are broker/salesperson relationships, brokerage contracts, agency in eight named forms, and cooperating agreements with out-of-state brokers.
Brokerage Contracts Before Anything Else
Rea 404.04 makes written contracts the gateway to representation on both sides. Under (a) no licensee may act for a seller or lessor on a sale, purchase, exchange or lease, or collect or attempt to collect rents, without a written contract signed by all parties; under (g) the same is true for acting on behalf of a buyer or lessee. Paragraphs (b) and (h) list what each contract must contain: the date of execution, the property or the description and price range sought, the names and addresses of all parties, the professional fee stated as a dollar amount, percentage or other specific consideration, and the expiry date. Paragraph (f) prohibits net listings outright and defines them as a listing where the commission is the difference between the selling price and a minimum price acceptable to the seller. Paragraphs (c) and (i) require consent to designated agency to be obtained inside the listing or buyer agency contract, and (d), (j) and (l) to (n) govern consent to dual agency showings and the informed consent agreement itself. On the money side, RSA 331-A:26, XX lets a licensee accept compensation only from the principal broker with whom the licensee is licensed, and RSA 331-A:32, II limits a salesperson's own suit for a fee to an action against that broker.
The Five Capacities
RSA 331-A:25-a, I binds a licensee serving a client to loyalty, obedience, disclosure, confidentiality, reasonable care, diligence and accounting, and II names the capacities: seller agent, buyer agent, disclosed dual agent or subagent - anything else must be described in writing and signed by all parties before services are rendered. RSA 331-A:25-b sets the seller agent's duties, including presenting all offers in a timely way even while under contract, preserving confidences beyond the end of the relationship, and disclosing to a prospective buyer any known material physical, regulatory, mechanical or on-site environmental condition before the buyer makes a written offer, with no affirmative duty to investigate. RSA 331-A:25-c mirrors it for the buyer agent and expressly allows introducing the same property to other prospective buyers. RSA 331-A:25-d permits disclosed dual agency only with the written consent of all parties, no later than the preparation of a written offer, and keeps the confidentiality duty. RSA 331-A:25-e governs designated agency: written consent at the start of the relationship, non-imputation of the designated agent's knowledge to the appointing agent or other firm licensees, notice to both sides before the purchase and sale agreement is executed, and no reduction in the appointing agent's or principal broker's liability. RSA 331-A:25-f describes the facilitator, who assists without representing, owes no confidentiality unless otherwise agreed, must treat both sides honestly, must present all offers, and must disclose known material conditions.
Disclosure of the Relationship, and Out-of-State Cooperation
Rea 701.01(a) requires a written brokerage relationship disclosure at the time of the first business meeting, and (c) requires the Commission's own Brokerage Relationship Disclosure Form. An open house is excused under (d) where the licensee discloses the relationship with the seller by sign, poster, pamphlet or other conspicuous means. If the consumer will not sign, (f) requires the licensee to note that on a copy and keep it for three years. Paragraphs (g) and (h) add the extra steps for a licensee intending to act as a dual agent or a designated agent, including indicating dual agency in writing on the offer. Rea 702.02 requires a salesperson to hand money straight to the principal or managing broker. Finally, RSA 331-A:22-a and Rea 703.01 let a New Hampshire broker cooperate with an out-of-state broker on a commercial transaction only under a written cooperative brokerage agreement on the Commission's form, with a term no longer than one year, with negotiations, showing, advertising and listing under the New Hampshire broker's direct supervision, with equal prominence in advertising, and with any earnest money placed in the New Hampshire broker's escrow account.
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State-specific details
State exam facts
- State regulator
- New Hampshire Real Estate Commission (Office of Professional Licensure and Certification)
- Exam vendor
- PSI
- Prelicensing education
- 60 hours of approved study
- Passing score
- 56 of 80 points (national); 28 of 40 points (state)
- Scored questions
- 115
- Time limit
- 240 minutes
Who regulates real estate brokers in New Hampshire?
The New Hampshire Real Estate Commission, which sits within the Office of Professional Licensure and Certification (OPLC) in Concord, licenses real estate salespersons and brokers. The Commission has contracted with PSI Services LLC to conduct the examination program at test centers in Concord, Keene, Manchester, Nashua, Newington, and Portsmouth, as well as out-of-state locations. Note when you study that the 2023 OPLC consolidation act repealed RSA 331-A:15, :17, :18, :19, :28, :29, :30, :31, :33, :34, and :35 effective September 1, 2023: renewal, expiration, discipline, and hearing procedure for this board now live in RSA 310, while the prohibited-conduct grounds in RSA 331-A:26 are unchanged.
What experience do I need before the New Hampshire broker exam?
Under RSA 331-A:10, broker applicants must have been employed full-time by an active principal broker for at least one year within the five years before application, or have at least 2,000 part-time hours as a licensed salesperson in New Hampshire within that same five-year window. In addition, every broker applicant must submit evidence of at least six separate real estate transactions in which they were actively involved and compensated, and must show 60 hours of approved study. Candidates who believe they have equivalent experience can request a waiver from the Commission.
How is the New Hampshire broker exam structured?
The broker exam has a national portion and a New Hampshire state portion, taken in a combined session of 240 minutes. New Hampshire scores in points rather than a straight percentage, and the counts differ: the national broker portion is 75 items worth 80 points, because national broker exams include items scored up to two points, with 56 points needed to pass. The state portion is 40 items worth 40 points with 28 points needed to pass, giving 115 items and 120 points overall. New Hampshire publishes one state content outline for salespersons and brokers alike, and it splits the 40 state items into five areas: Real Estate Commission (3), Licensure (5), Regulation of Licensee Conduct (11), Regulation of Agency Conduct (11), and New Hampshire Principles and Practice (10).
Sources: https://www.oplc.nh.gov/find-board/nh-real-estate-commission/real-estate-examination-information, https://test-takers.psiexams.com/api/content/bulletin/6529
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