Iowa Administrative Code

containing terms or conditions that would violate real estate laws in Iowa Code chapter 543B or commission rules. The broker is responsible to ensure that all preprinted documents and forms used follow these rules. [ARC 7773C, IAB 4/17/24, effective 5/22/24; ARC 9477C, IAB 8/6/25…

connection with a real estate transaction, a licensee, as soon as practicable, delivers a legible copy of the original instrument to each of the parties thereto. It is the responsibility of the licensee to prepare sufficient copies of such instruments to satisfy this criteria. Th…

of an exclusive brokerage agreement, there must be a provision for the protective clause in the brokerage agreement that establishes a definite protection period. In writing and prior to the expiration of the brokerage agreement, the broker furnishes to the party the names and av…

2011.6(1) A licensee cannot pay compensation, any part of compensation, or valuable consideration to an unlicensed third party for performing brokerage functions or engaging in any activity that needs a real estate license. Referral fees or finder’s fees paid to unlicensed third …

or other type of structure to land and thereby produce an improvement to real estate is a real estate transaction. A licensee makes written disclosure revealing that the licensee and the licensee’s broker or brokerage firm will receive a commission, compensation, or valuable cons…

partnership, limited liability company, association, or corporation has a written company policy. Regardless of the type or types of agency relationships offered, a written company policy is needed. 2012.1(1) The written company policy identifies and describes the types of real e…

2012.2(1) A licensee cannot represent any party or parties to a real estate transaction or otherwise act as a real estate broker or salesperson unless that licensee makes disclosure to all obligated parties to the transaction identifying which party or parties, if any, that licen…

2012.3(1) Duty to seller or landlord. A licensee representing a seller or landlord as an exclusive seller’s agent or an exclusive landlord’s agent have the following duties and obligations: a. Perform the terms of the written agreement made with the seller or landlord; b. Exercis…

2012.4(1) Duty to buyer or tenant. A licensee representing a buyer or tenant as an exclusive buyer’s or an exclusive tenant’s agent have the same duties and obligations as mentioned in subrule 2012.3(1). a. Perform the terms of any written agreement made with the client; b. Exerc…

2012.5(1) A brokerage which has a company policy that permits disclosed dual agency for in-house transactions provides a disclosed dual agency consent agreement to the client or prospective client prior to engaging in any activities of a dual agent. If any seller, landlord, buyer…

designated broker to elect to appoint in writing one or more different licensees affiliated with the broker to act as agent to represent exclusively different clients in the same transaction, to the exclusion of all other affiliated licensees within the real estate brokerage. A l…

2012.7(1) Prior to entering into a brokerage agreement, a real estate brokerage notifies a client in writing of the real estate brokerage’s appointed agent policy and those affiliated licensees in accordance with Iowa Code section 543B.59(1). The appointed agent disclosure includ…

and other trust funds received by the broker in such capacity or broker associate or salesperson on behalf of the broker’s client are deposited in a trust account maintained by the broker in an identified trust account, with the word “trust” in the name of the account, in a feder…

real estate transaction, at the time the transaction is consummated, a complete detailed statement, showing all of the receipts and disbursements handled by the broker. Also, the broker at the same time delivers to the buyer a complete statement showing all moneys received in the…

real estate transaction except under the direct supervision or with the consent of the employing broker. [ARC 7775C, IAB 4/17/24, effective 5/22/24; Editorial change: IAC Supplement 6/10/26]

withdrawn or the acceptance is revoked without liability pursuant to Iowa Code chapter 558A, any earnest money deposit is promptly returned to the buyer without delay. The seller’s consent and agreement to release the funds is not necessary. A copy of the written revocation or wi…

copies of all business books; accounts, including voided checks; records; contracts; closing statements; disclosures; signed documents; the listing; any offers to purchase; and all correspondence relating to each real estate transaction that the broker has handled and each proper…

estate broker, broker associate or salesperson and is also a principal in the sale, lease, rental or exchange of property owned by the licensee, all payments, rent, or security deposits received from the lessee, renter or buyer are deposited into the broker’s trust account. The u…

estate subject to Iowa Code chapter 558A. For purposes of this chapter, “transfer” means the same as Iowa Code section 558A.1(5) and “agent” means the same as Iowa Code section 558A.1(1). 2014.1(1) Additional disclosure. Nothing in this rule is intended to prevent any additional …

lease real estate, negotiate or offer or agree to negotiate the rental or leasing of real estate, list or offer to list real estate for the leasing or rental of real estate, assist or direct in the negotiation of any transaction calculated or intended to result in the leasing or …

“Affirmative marketing” means the entire scope of social laws and ethics that are concerned with civil rights as they apply especially to housing and to the activities of real estate licensees. “Approved program, course, or activity” means a continuing education program, course, …

2016.10(1) Salespersons and brokers may take up to 24 hours of the salesperson prelicense courses specified in subrule 2016.2(1) as continuing education. However, a newly licensed salesperson cannot use credits from the salesperson prelicense course(s) to meet the continuing educ…

credit for attendance and participation in a course, program, or other continuing education activity that is to be conducted by a school not otherwise approved by the commission may apply for approval to the commission at least 21 days in advance of the beginning of the activity.…

2016.2(1) Mandatory course of study. a. The mandatory course of study for the salesperson licensing examination consists of 60 live instruction or distance/online learning hours of real estate principles and practices to comply with the criteria of Iowa Code section 543B.15. The …

2016.3(1) Mandatory course of study. The mandatory course of study to take the broker examination consists of Iowa Code section 543B.15(7). Approved courses include the following subjects: Contract Law and Contract Writing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . …

2016.4(1) All individual real estate licenses are issued for three-year terms, counting the remaining portion of the year of issue as a full year. All individual licenses expire on December 31 of the third year of the license term. 2016.4(2) As a criteria of license renewal in an…

section 543B.15 certify that the number of hours of continuing education needed to renew a license was completed as described in rule 481—2016.4(543B). 2016.5(1) The commission will verify by random audit or on a test basis the education claimed by the licensee. It is the respons…

continuing education, but it is only renewed to an inactive status. Prior to reactivating a license that has been issued inactive due to failure to submit evidence of continuing education, the licensee submits evidence that all deficient continuing education hours have been compl…

attendance throughout the program, course or activity. A student who arrives late, leaves during class or leaves early does not receive a certificate. [ARC 7778C, IAB 4/17/24, effective 5/22/24; Editorial change: IAC Supplement 6/10/26]

Iowa real estate licensee unless exempted by Iowa Code section 272C.2(5). [ARC 7778C, IAB 4/17/24, effective 5/22/24; Editorial change: IAC Supplement 6/10/26]

2016.9(1) A salesperson may satisfy all continuing education deficiencies by taking and passing the real estate salesperson examination. An authorization letter is obtained from the commission prior to scheduling the examination with the examination administrator. a. If the sales…

and instructors of prelicense and continuing education receive advance approval of the commission. 2017.1(1) Schools, courses and instructors are approved on forms prescribed by the commission for 24-month periods, including the month of approval. Approval is obtained for each co…

approve distance learning courses, subject to the following criteria: 2017.10(1) The provider’s purpose or mission statement is available to the public. 2017.10(2) The course outline includes clearly stated learning objectives and desired student competencies for each module of i…

may approve paper and pencil home-study courses, subject to the following criteria: 2017.11(1) Courses are arranged in chapter format and include a table of contents. 2017.11(2) Overview statements that preview the content of the chapter are included for each chapter. 2017.11(3) …

2017.12(1) Individuals may be approved to teach prelicense and continuing education when they have shown proof of attendance of six hours at an instructor development workshop approved by the commission within 12 months preceding approval and have met the instructor qualification…

2017.2(1) Each approved school under rule 481—2017.1(543B) provides an individual certificate of attendance to each licensee upon completion of the program, course, or activity. The certificate contains the following information: a. School name and number; b. Program, course or a…

2017.3(1) Instructors who take the salesperson or broker examination for auditing purposes first obtain written consent from the commission. 2017.3(2) Any instructor who wishes to retake an examination for auditing purposes may be granted permission after 12 months have passed. […

2017.4(1) Commission-approved instructors may receive up to six hours of continuing education credit toward renewal of a real estate license for verified attendance at an instructor development workshop approved by the commission. The instructor may use continuing education credi…

2017.5(1) The commission will consider courses in the following areas to be acceptable for approval: a. Real estate ethics; b. Legislative issues that influence real estate practice, including both pending and recent legislation; c. The administration of licensing provisions of r…

education: 2017.6(1) Courses of instruction designed to prepare a student for passing the real estate salesperson examination; 2017.6(2) Sales promotion or other meetings held in conjunction with a licensee’s general business; 2017.6(3) A course certified by the use of a challeng…

classroom instruction, distance education programs and paper and pencil home-study courses, subject to the following conditions: 2017.7(1) The course pertains to real estate topics that are integrally related to the real estate industry; and 2017.7(2) The course allows the partic…

2017.8(1) Instructors are competent in the subject matter and skilled in the use of appropriate teaching methods that have been proven effective through educational research and development. 2017.8(2) Course content and materials are accurate and consistent with currently accepte…

2017.9(1) The commission may approve live classroom courses, subject to the following criteria. 2017.9(2) The course application is accompanied by a comprehensive course outline that includes: a. Description of course. b. Purpose of course. c. Level of difficulty. d. Detailed lea…

to administer Iowa Code chapters 17A, 272C, and 543B and related administrative rules for the protection and well-being of those persons who may rely upon licensed individuals for the performance of real estate services within this state or for clients in this state. To perform t…

or if requested by the affected licensee, the committee may grant the licensee an opportunity to appear before the committee for a voluntary informal discussion of the facts and circumstances of an alleged violation, subject to the provisions of this rule. 2018.10(1) An informal …

2018.11(1) Grounds for closing. Upon the recommendation of the administrator pursuant to subrule 2018.6(5), the recommendation of the disciplinary committee pursuant to rule 481—2018.9(17A,272C,543B), or on its own motion, the commission may close a complaint file, with or withou…

only be initiated by the affirmative vote of a majority of a quorum of the commission at a public meeting. Commission members who are disqualified are not included in determining whether a quorum exists. When two or more members of the commission are disqualified or otherwise una…