New Real Estate Licensing Requirements
Last week the state legislature overwhelming approved bill 2778 reforming the licensure of real estate agents. The bill now heads to the governor’s desk for signing. The bill, which strengthens consumer protections and professional accountability, received widespread support within the industry.
The core reforms include:
- Elimination of the real estate salesperson classification, leaving broker, managing broker and designated broker classifications.
- Amends the licensing and educational requirements for brokers to 90 hours. Essentially, the “new” broker designation replaces the “salesperson” classification which only required 60 clock-hours of education.
- Implements greater oversight of licensees.
- Requires a background check by the Washington State Patrol.
Once signed by the governor the bill will become effective July 1, 2010.
Personally, I’m all for this bill even though it should be tougher. There is a definite need to increase the educational and licensing requirements of real estate professionals in Washington State. The changes will help to assure consumers that individuals practicing real estate are qualified, above board, full-time business persons. It’ll eliminate the plethora of agents who aren’t committed to improving their own skill sets or who treat real estate as a hobby or second job.