Rhode Island Interstate Real Estate Guide

Out of State Licensee (OSL) Participation in deals:
Limited Cooperative State

Rhode Island Out of State Broker Cooperation

- An out-of-state licensee can share a commission with a Rhode Island licensee, so long as out-of-state licensee does not conduct any negotiations within the state.
- An out-of-state licensee may bring a lawsuit for compensation if lawfully earned.

Rhode Island Real Estate License Types	Rhode Island Real Estate Exam Providers	Rhode Island Real Estate Waivers
Real Estate Associate Broker Real Estate Independent Broker Real Estate Employing Broker	Pearson VUE	None

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Rhode Island Real Estate Reciprocity

Connecticut, Massachusetts
Application mentions that Florida has "Mutual Recognition" - if they take the state portion of the real estate exam.

Confirmed on the Reciprocal Broker application page.

Specific to Rhode Island Real Estate

- Requires E&O (Agents have choices... but as with other states is available through RISC) https://www.risceo.com/states/rhode-island/
- RI 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.

Rhode Island Reverse Reciprocity

These states specifically mention Rhode Island in their Reciprocity:
Connecticut, Massachusetts, 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, South Dakota, Tennessee, Vermont, Washington

Rhode Island Real Estate Links

Dept. of Business Regulation: Real Estate Licensing Page
Reciprocal Broker Application

Rhode Island Real Estate Customs

Attorneys usually conduct closings, but banks and title companies may also conduct them.
Conveyance is by warranty or quitclaim deed. Mortgages are the usual security instruments.
Rhode Island uses ALTA policies and endorsements.
Buyers pay title insurance premiums and closing costs; sellers pay documentary taxes.
Property taxes are payable annually, semi-annually, or quarterly.