(a) In this Part IV of this subtitle the following words have the meanings indicated. (b) (1) "Commercial real estate" means: (i) real property improved by five or more single-family units; (ii) improved and unimproved real property zoned for commercial, industrial, or nonresidential use by the local zoning authority of the county or municipality in which the property is located; or (iii) unimproved real property zoned for improvement as multifamily units by the local zoning authority of the county or municipality in which the property is located. (2) "Commercial real estate" does not include: (i) property zoned for agricultural use; and (ii) single-family units, including a condominium or co-op unit, for sale or for lease, or otherwise conveyed or to be conveyed on a single basis. (c) "Nonresident real estate broker" means an individual, partnership, joint venture, limited liability company, limited liability partnership, or corporation that is not licensed under Subtitle 3 of this title but is licensed to provide real estate brokerage services in a jurisdiction other than this State. (d) "Nonresident real estate salesperson" means an individual who is not licensed under Subtitle 3 of this title but is licensed to provide real estate brokerage services and is affiliated with a nonresident real estate broker.
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