relative to the regulation of real estate practice.

This bill updates New Hampshire's real estate laws to clarify definitions and create a new inactive licensure status for brokers and salespersons. It allows licensed individuals to place their licenses on inactive status while keeping them valid, provided they do not engage in brokerage activities or make referrals for compensation during that time. Under the new rules, inactive licensees must still renew their licenses and complete continuing education every two years but are exempt from maintaining a place of business or a surety bond. The law also specifies that a license automatically returns to active status once an inactive licensee affiliates with a broker of record. These changes take effect on October 1, 2024.