State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_93A > GS_93A-2

§ 93A‑2.  Definitionsand exceptions.

(a)        A real estatebroker within the meaning of this Chapter is any person, partnership,corporation, limited liability company, association, or other business entitywho for a compensation or valuable consideration or promise thereof lists oroffers to list, sells or offers to sell, buys or offers to buy, auctions oroffers to auction (specifically not including a mere crier of sales), ornegotiates the purchase or sale or exchange of real estate, or who leases oroffers to lease, or who sells or offers to sell leases of whatever character,or rents or offers to rent any real estate or the improvement thereon, forothers.

(a1)      The term broker‑in‑chargewithin the meaning of this Chapter means a real estate broker who has beendesignated as the broker having responsibility for the supervision of realestate salespersons engaged in real estate brokerage at a particular realestate office and for other administrative and supervisory duties as theCommission shall prescribe by rule.

(a2)      The term provisionalbroker within the meaning of this Chapter means a real estate broker who,pending acquisition and documentation to the Commission of the education orexperience prescribed by either G.S. 93A‑4(a1) or G.S. 93A‑4.3,must be supervised by a broker‑in‑charge when performing any actfor which a real estate license is required.

(b)        The term realestate salesperson within the meaning of this Chapter shall mean and includeany person who was formerly licensed by the Commission as a real estatesalesperson before April 1, 2006.

(c)        The provisions ofthis Chapter do not apply to and do not include:

(1)        Any person,partnership, corporation, limited liability company, association, or otherbusiness entity who, as owner or lessor, shall perform any of the actsaforesaid with reference to property owned or leased by them, where the actsare performed in the regular course of or as incident to the management of thatproperty and the investment therein.

(2)        Any person acting asan attorney‑in‑fact under a duly executed power of attorney fromthe owner authorizing the final consummation of performance of any contract forthe sale, lease or exchange of real estate.

(3)        The acts or servicesof an attorney‑at‑law.

(4)        Any person, whileacting as a receiver, trustee in bankruptcy, guardian, administrator orexecutor or any person acting under order of any court.

(5)        Any person, whileacting as a trustee under a trust agreement, deed of trust or will, or thatperson's regular salaried employees.

(6)        Any salaried personemployed by a licensed real estate broker, for and on behalf of the owner ofany real estate or the improvements thereon, which the licensed broker hascontracted to manage for the owner, if the salaried employee's employment islimited to: exhibiting units on the real estate to prospective tenants;providing the prospective tenants with information about the lease of theunits; accepting applications for lease of the units; completing and executingpreprinted form leases; and accepting security deposits and rental payments forthe units only when the deposits and rental payments are made payable to theowner or the broker employed by the owner. The salaried employee shall notnegotiate the amount of security deposits or rental payments and shall notnegotiate leases or any rental agreements on behalf of the owner or broker.

(7)        Any owner whopersonally leases or sells the owner's own property.

(8)        Any housingauthority organized in accordance with the provisions of Chapter 157 of the GeneralStatutes and any regular salaried employees of the housing authority whenperforming acts authorized in this Chapter as to any property owned or leasedby the housing authority. This exception shall not apply to any person,partnership, corporation, limited liability company, association, or otherbusiness entity that contracts with a housing authority to sell or manageproperty owned or leased by the housing authority. (1957, c. 744, s. 2; 1967, c.281, s. 1; 1969, c. 191, s. 2; 1975, c. 108; 1983, c. 81, ss. 4, 5; 1985, c.535, s. 1; 1995, c. 351, s. 20; 1999‑229, ss. 2, 3; 1999‑409, s. 1;2001‑487, s. 23(a); 2005‑395, ss. 2, 3.)