Real estate licensees: fictitious business names.

Existing law provides for the licensure and regulation of real estate brokers and real estate salespersons by the Bureau of Real Estate headed by the Real Estate Commissioner. Existing law requires an applicant who desires to have his or her license issued under a fictitious business name to file with his or her application a certified copy of his or her fictitious business name statement. Under existing law, any violation of these provisions is a misdemeanor. This bill would authorize a responsible broker, as defined, by contract, to permit a salesperson to apply for a fictitious business name with the appropriate county and the bureau, to be identified with that responsible broker's license number, and to maintain ownership of a fictitious business name, as defined. The bill would define a team name and provide, for purposes of the provisions described above, that a team name is not a fictitious business name if the name is used by two or more real estate licensees, the name includes a licensee's surname in conjunction with the term "associates," "group," or "team," and the name does not include any term or terms that imply or suggest the existence of a real estate entity independent of a responsible broker. The bill would require advertising that contains a team name, including print or electronic media and "for sale" signage, to include certain identifying information in a conspicuous manner. This bill would provide that a violation of the provisions described above is not a misdemeanor.