Real estate licensees.

The Real Estate 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 the commissioner to provide on the Internet specific information regarding the status of every license issued by the department. That law requires a real estate broker to immediately notify the commissioner in writing whenever a real estate salesperson enters the employ of or is terminated by that real estate broker. That law makes a willful or knowing violation of any if its provisions punishable as a misdemeanor. This bill would, beginning January 1, 2018, require that information to include whether a licensee is an associate licensee and, if the associate licensee is a broker, to identify each responsible broker with whom the licensee is contractually associated. This bill would additionally require a real estate broker to immediately notify the commissioner in writing whenever a real estate broker acting as a salesperson enters the employ of or is terminated by the responsible real estate broker and would make certain nonsubstantive changes. By placing a new requirement on a real estate broker to report to the commissioner regarding the employment or termination of a real estate broker acting as a salesperson, this bill would expand an existing crime. This bill would incorporate additional changes in Section 10083.2 of the Business and Professions Code, proposed by AB 1807, that would become operative only if AB 1807 and this bill are both chaptered and become effective on or before January 1, 2017, and this bill is chaptered last. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason.