Regulation of Licensee Conduct
Area III is eleven of the forty state items, the joint-largest block. Its subtopics are advertising, branch offices, prohibited conduct, the three property disclosures, recordkeeping, funds and accounts, and place of business.
Advertising, Offices and Supervision
RSA 331-A:16, IV(a) requires every advertisement to carry the licensee's legal name or a reasonable derivative and the regular business name of the firm, or the principal broker's name when licensed individually, clearly identifiable, across every medium from billboards to email. Subparagraph (b) adds the rule that catches most licensees: any advertising showing a direct contact number or address for an individual licensee or a team must also give the name and telephone number of the individual principal broker or brokerage firm. Subparagraph (c) allows a link on limited electronic media such as a thumbnail or text message. Rea 404.05 restates both duties and bars a licensee from advertising as if the offer were made by a principal. RSA 331-A:16, I requires each office and branch office to be directed, supervised and managed by a licensed broker and requires the principal broker to designate a managing broker for each branch; RSA 331-A:16-a allows a temporary designation for up to one year after a managing broker's death, disability or departure. Rea 404.01 requires a business sign outside the office where local zoning permits, and Rea 404.02 requires changes of address, name, trade name or work location to be reported within 10 days, with a principal broker reporting an affiliation change within 5 business days.
Prohibited Conduct: RSA 331-A:26
The chapter's thirty-eight paragraphs of prohibited conduct are the densest source of state-portion items. Recurring ones: paragraph VII, conversion of entrusted money or evidence of title, with failure to return it within 30 days of a demand by an entitled owner as prima facie evidence; VIII, failing to place trust funds promptly in a proper trust account or to reconcile records monthly; XI, accepting non-cash earnest money unless communicated in writing to the owner before acceptance, shown on the receipt and acknowledged in writing; XII, dual agency without full disclosure and written consent of all parties no later than the written offer; XIV and XV, contingent-value comparative market analyses and CMAs on property in which the licensee has an undisclosed interest; XVII, discrimination in hiring or sales activity; XVIII and XIX, three-year retention of escrow records and of transaction records; XX, accepting compensation from anyone but the principal broker; XXI, RESPA-prohibited referrals; XXII, written disclosure of the licensee's own interest before an offer; XXIV, paying valuable consideration to unlicensed persons, with an exception for a broker licensed and regularly doing business in another jurisdiction; XXVII, failing to exercise reasonable supervision; and XXXVIII, submitting an owner's name to an electronic database or MLS without the owner's express written permission. Rea 101.01(i) puts valuable consideration at anything worth more than $100.
The Three Rea 701 Disclosures and the Escrow Account
For any property used or proposed to be used as a one-to-four family dwelling, the listing licensee must ask the seller for specified facts and then convey them in writing to the buyer prior to or during the preparation of an offer - and must say in writing when the information is not available. Rea 701.03 covers a private water supply: type of system, location, malfunctions, date of installation, date of the most recent water test, and whether there has been a problem such as an unsatisfactory test or a test with notations. Rea 701.04 covers insulation: type and location. Rea 701.05 covers a private sewage disposal system: location, malfunctions, date of the most recent servicing, and the name of the person or contractor who services it. On money, RSA 331-A:13, I requires the principal broker to keep an escrow account separate from the individual or office account, in an insured financial institution within New Hampshire, into which all deposits on fully executed contracts go promptly; III bars checks drawn on uncollected deposits; IV bars withdrawal until performance, contemporaneous written agreement of all parties, or a court order; V requires the principal broker to sign an audit permit; VI supplies the 90-day-then-60-day certified-mail release process for a stalled deposit; and VII allows the broker's own funds in only to cover bank service charges or a required minimum balance. Rea 702.02 requires a salesperson or associate broker to deliver all money received immediately to the managing or principal broker.
Keep going: the full New Hampshire Real Estate Broker guide covers every section of the exam. New Hampshire Real Estate Broker Exam Study Guide (2026) — PDF + EPUB, $19.99 · 14-day refund →
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
In the New Hampshire Real Estate Broker guide: A 60-question national practice exam, with a key that explains all four options and not just the right one. Practice here stays free.