AZ HB2486

Requires real estate brokers and salespersons to be licensed when acting as wholesalers or equity purchasers of distressed residential property, adding these activities to the definition of "real estate broker" in Arizona Revised Statutes section 32-2101

Expands the licensing requirements to cover transactions involving compensation "or expectation of profit," not just direct compensation, closing a loophole used in some property wholesaling arrangements

Removes the exemption for corporations dealing in their own property when the activities involve assignment fees or when the majority of activities constitute real estate broker acts

Makes violation of the licensing requirements an unlawful practice under Arizona's Consumer Fraud Act (section 44-1522), providing additional enforcement mechanisms

Repeals and replaces Title 44, Chapter 15.1, Article 1 of Arizona Revised Statutes relating to distressed residential property regulations