Modifies provisions concerning real estate licensure.

Provides minimum requirements for an individual to receive a managing broker's license.

Requires a designated broker to hold a license as a managing broker in accordance with this act, and may act as a designated broker for more than one firm. The department shall register designated brokers.

Provides the designated broker or managing broker shall supervise the conduct of brokers and managing brokers for compliance with this act, chapter 18.235 RCW, and RCW 18.86.030.

Provides the changes made by this act regarding the licensing categories do not affect the status of a complaint, investigation, or other proceeding. A rule or form adopted by the director before the effective date of this act remains in effect as a rule or form of the department until amended or changed.