This bill amends the license application process for real estate brokers and salespersons in Iowa. It introduces a new provision that allows individuals holding a real estate broker license applying for a salesperson license, or vice versa, to specify whether their new license should take effect immediately upon approval or upon the expiration of their current license.

Additionally, the bill modifies the brokerage agreement requirements by stating that certain obligations do not apply to customers attending open houses, potential buyers of properties with more than four dwelling units, or properties not intended for human habitation. This change aims to streamline the process for these specific situations, making it easier for buyers and sellers to engage in real estate transactions without the need for a formal brokerage agreement in these contexts.

Statutes affected:
Introduced: 543B.16, 543B.56A