Real estate brokers: licensure requirements: exemption.

Existing law, the Real Estate Law, provides for the licensure and regulation of real estate brokers by the Real Estate Commissioner. Under existing law, a real estate broker is a person who, for a compensation or in expectation of a compensation, regardless of the form or time of payment, does or negotiates to do one or more specified acts for another or others. Existing law exempts these acts from real estate licensure requirements if performed by specified persons under specified circumstances. This bill would also exempt those acts from real estate licensure requirements if performed by any agent, employee, or independent contractor of an individual, entity that provides housing services and the individual or entity's sole activities related to real estate involve ownership or management of residential property owned or controlled by the individual or entity, and would prohibit this exemption from applying under specified circumstances.