The bill to establish a national broker clearinghouse to cut through the red tape of state-by-state licensing passed the U.S. House of Representatives Tuesday with overwhelming bipartisan approval. A similar bill moved through committee in the U.S. Senate in June and is teed up for a full vote.

If passed by both legislative bodies, the law would create the National Association of Registered Agents and Brokers, which would have a 13 member board appointed by the president and confirmed by the Senate. Members of organization would have a simpler time obtaining licenses to practice outside of their state of residence.

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