AZ HB2003

Prohibits brokers from requiring licensees to obtain membership or agreements with external organizations as a condition of employment, including the Multiple Listing Service, real estate trade associations, and realtor organizations.

Applies to all real estate employment agreements between brokers and licensees that are established or renewed on or after the effective date of the act.

Maintains existing broker recordkeeping requirements for real estate transactions, including earnest money receipts, closing statements, sales contracts, and employment records retained for at least five years.

Clarifies that brokers may not grant withdrawal authority from trust fund accounts to anyone who is not a licensee under the broker's license.