HB 6624 Summary

• Establishes new licensing requirements for real estate brokers effective January 1, 2022, requiring applicants after that date to complete 1,500 hours of active engagement as a salesperson within three years prior to application, plus coursework in real estate principles, legal compliance, brokerage practices, and two elective courses, or demonstrate equivalent experience

• Creates a new "team" definition and registration system for groups of at least two licensed brokers or salespersons affiliated with the same sponsoring broker who advertise together using a team name, requiring registration with the Department of Consumer Protection with initial fee of $565 and annual renewal fee of $375

• Requires team names to include the full name of at least one team member or reference the sponsoring broker, and prohibits team names from implying the team is a separate business entity

• Adds requirement that broker applicants or their supervising brokers certify applicant records showing closed real estate transactions and active engagement hours, with 90-day certification deadline

• Allows waiver of elective course requirements if applicant has successfully completed at least 20 real estate transactions within five years of application and establishes a 12-day notice requirement for team registration changes