In March 2008, Governor Gregoire signed into law a reform of the Washington real estate license law that will go into effect in July 2010.
The new law establishes license definitions, increases educational and licensing requirements, and increases supervision and oversight of new agents by their designated brokers. And, speaking of brokers, there will be a lot more of them. As a matter of fact, every agent will be called a "broker". Associate brokers will be called "managing brokers" and designated brokers will remain "designated brokers".
- Besides the vocabulary changes, fingerprint and background checks will be required for new licensees.
- Education requirements for new agents will increase from 60 hours to 90 hours and will include the Fundamentals Course and the Practices Course.
- Prerequisite experience for a managing broker will increase from 2 years to 3 years.
- First renewal requirements for agents (soon to be called brokers) will increase from 60 to 90 hours and will have to include Advanced Practises and Real Estate Law.
- Increased supervision over new agents by managing brokers will be required during their first 2 years.
While new agents entering the industry after July 2010 may dread these more stringent requirements, they merely represent a minimum standard that should have been in place all along. I remember taking the Practices course in my first year in real estate, wondering how I was ever allowed to receive a license without first completing this class.
I have witnessed countless agents entering the business without a clue and without any guidance from their designated brokers. They are basically cut loose to learn by practice and experimentation. How scary for the agent and their unknowing clients?
In the past, clients who wanted to ensure that they are working with an experienced agent looked for designations such as GRI and ABR, or for an agent with a brokers license. This would assure them that the agent they're dealing with has gone above and beyond the required minimum professional education. Setting the education requirements at a higher level should make clients feel more confident in their agents' skills.
They say "A rising tide lifts all boats", and I hope the more stringent requirements in order to become a real estate agent or broker, will help elevate the entire industry. It's about time, and it's a shame the changes don't go into effect until 2010.
Sandy Nelson
Olympia Realtor®, GRI, ASP
360-789-7505
www.SandyNelsonRealEstate.com
____________________________________________________________________________________________________
All the real estate information on the Internet can not compare to the real time, on-the-ground expertise of a local, skilled Realtor ®. Among all the South Sound real estate resources available, the most powerful tool is my phone number.
Comments(6)