The provisions of this chapter shall not apply to the sale, exchange, purchase, rental, or advertising of any real estate in any of the following cases:
1. Owners or lessors, or to the regular employees thereof, with respect to the property owned and leased where such acts are performed in the regular course of or incident to the management of property owned and the investment therein.
2. By any person acting as attorney in fact under a duly executed and acknowledged power of attorney from the owner, authorizing the final consummation and execution of any contract for the sale, leasing, or exchange of real estate.
3. Nor shall the provisions of this chapter apply to an attorney admitted to practice in Iowa.
4. The acts of one while acting as a receiver, trustee in bankruptcy, administrator, executor, guardian, or under court order or while acting under authority of a deed of trust, trust agreement, or will.
5. The acts of an auctioneer in conducting a public sale or auction. The auctioneer's role must be limited to establishing the time, place, and method of an auction, advertising the auction including a brief description of the property for auction and the time and place for the auction, and crying the property at the auction. If the auctioneer closes or attempts to close the sale of the property or otherwise engages in acts defined in sections 543B.3 and 543B.6, then the requirements of this chapter do apply to the auctioneer.
6. An isolated real estate rental transaction by an owner's representative on behalf of said owner; such transaction not being made in the course of repeated and successive transactions of a like character.
7. The sale of time-share uses as defined in section 557A.2.
[C31, 35, § 1905-c26; C39, § 1905.23; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 117.7]
83 Acts, ch 43, § 1; 85 Acts, ch 155, §21 ~IC93, § 543B.7
Referred to in § 543B.43, 543C.6
Iowa General Assembly
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