Real estate teams; required to obtain a business entity license.

Requires real estate teams as defined in the bill to obtain a business entity salesperson's license from the Real Estate Board (the Board). The bill requires a principal broker to obtain a branch office license from the Board for each place of business maintained by such principal broker within the Commonwealth. The bill also expands the responsibilities of supervising brokers as defined in the bill and requires that as a condition of the renewal of a branch office license, the supervising broker shall provide to the Board the name and license number of each real estate licensee affiliated with the branch office at the time of the renewal. The bill has a delayed effective date of January 1, 2019. This bill is identical to