FINAL BILL REPORT

SSB 6325

This analysis was prepared by non-partisan legislative staff for the use of legislative members in their deliberations. This analysis is not a part of the legislation nor does it constitute a statement of legislative intent.

Brief Description: Exempting common interest community managers from real estate broker and managing broker licensing requirements.

Sponsors: Senate Committee on Labor, Commerce & Consumer Protection (originally sponsored by Senators Holmquist Newbry, Kohl-Welles and Tom).

Senate Committee on Labor, Commerce & Consumer Protection

House Committee on Business & Financial Services

Background: Individuals seeking to offer real estate brokerage services must obtain the appropriate real estate broker, managing broker, designated broker, or real estate firm license from the Department of Licensing. Real estate brokerage services are defined in statute and are generally those services involved in the selling or purchasing of real property. Several groups are exempt from the licensing requirements, including, with some qualifications: public employees involved in eminent domain actions; persons providing referrals to licensees; certified public accountants; title or escrow companies or agents; investment counselors; and certain persons employed by an owner or on behalf of a designated or managing broker.

Summary: Common interest community managers are exempt from the real estate brokers and salespersons licensing requirements. Common interest community managers are individuals who provide management or financial services in an advisory capacity to associations governed by the Horizontal Property Regimes Act, the Condominium Act, or the statutes regulating homeowners' associations. The exemption applies only to common interest community managers who do not promote the purchase, listing, sale, exchange, optioning, leasing, or renting of a specific real property interest.

Votes on Final Passage:

Senate	47	0
House	96	0