Governor signs AB 1718, degree brokers bill

I have been a strong supporter of formal real estate education at the college level for many years.  I am happy to see that this clarification has been made.  On a daily basis I receive so many incomplete offer and purchase packages from real estate agents.  This change will help strengthen the quality of agents taking the next steps from Sales to Broker.  As always find a good mentor and learn like a sponge.

Gov. Brown signs bill that clarifies real estate broker applicants’ experience requirements

LOS ANGELES (Aug. 28) – A bill sponsored by the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) that closes an important loophole in an applicant’s experience requirements for a real estate broker’s license has been signed into law.

Typically, in addition to meeting stringent educational requirements and passing a brokers’ exam, an applicant for a real estate broker’s license must first become a salesperson and acquire at least two years of full time experience in real estate, working under the supervision of a broker, before one can become a broker.

Existing law allows an exception to the experience requirement for a college degree, “which included a specialization in real estate.”  Over the years, the “degree broker” exception has been interpreted to apply to any degree.

Assembly Bill 1718 (Hill, D-So. San Francisco) clarifies that the degree claimed as an exception must actually include a major or minor in real estate.

Leading the way...® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with 155,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.