Arizona Out of State Broker Cooperation- An out-of-state licensee can enter into a written co-brokerage agreement with Arizona licensee, in which the out-of-state licensee must agree to the following:
a) to submit to AZ law; b) AZ cooperating licensee assumes responsibility for acts of out-of-state licensee; c) negotiations in AZ or with AZ property owners are conducted through AZ licensee; d) all funds are handled in accordance with AZ law. - An out-of-state licensee can bring commission lawsuit in Arizona if all activities occurred outside of Arizona. - Despite cooperative agreement, out-of-state licensee cannot perform any services in Arizona. |
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Arizona Real Estate ReciprocityArizona has Out-of-State License recognition for RESIDENTS ONLY. (Apply here)
Confirmed by Arizona Department of Real Estate. |
Specific to Arizona Real Estate - A real estate licensee must also take a six-hour continuing education course in Contract Law and Contract Writing before their license is actually activated. - AZ is considered a Single Entity State, meaning that a Broker in this state can only represent one entity, whereas a broker in other states may represent multiple entities. |
Arizona Reverse ReciprocityThese states specifically mention Arizona in their Reciprocity: Nevada (Salesperson Only) These States recognize any other State licenses but may have additional requirements: Alaska, Alabama, Colorado, Georgia, Idaho, Indiana, Kansas, Kentucky, Maine, Nebraska, North Carolina, Rhode Island, South Dakota, Tennessee, Vermont, Washington Arizona Real Estate CustomsTitle companies and title agents both handle closings. Conveyance is by warranty deed. Whereas deeds of trust are the security instruments most often used, mortgages and “agreements for sale” are used approximately 20% of the time. Arizonans use ALTA owner’s and lender’s policies, standard or extended, with standard endorsements. The seller customarily pays for the owner’s policy, and the buyer pays for the lender’s policy. Buyer and Seller split other escrow costs. There are no documentary, transfer, or mortgage taxes. Arizona is a community-property state. |
Arizona Real Estate LinksArizona has no Reciprocity Page, but a broker from another state can qualify for a license if he is an AZ Resident.
1) Arizona Department of Real Estate 2) Arizona Department of Real Estate (Model Broker's Policy and Procedures Manual 3) Out of State Broker cooperation requirements BIZ BROKER STATEThe rules are very clear in this State that a Business Broker must hold a real estate license to sell a business.
48. “Real estate broker” means a person, other than a salesperson, who, for another and for compensation: (a) Sells, exchanges, purchases, rents or leases real estate, businesses and business opportunities or timeshare interests. ... (p) Acts as a business broker. http://codes.findlaw.com/az/title-32-professions-and-occupations/az-rev-st-sect-32-2101.html |
