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 It may not be common knowledge, but historically, all you needed to do in order to take the real estate salespersons exam was complete 1 class. If you then passed the exam, you would be issued a "conditional" license by the state which allowed you to practice real estate so long as you completed two additional classes within 18 months of getting your license. (You can reveiw the new law here ).
It is also a reality that most real estate agents (something over 80%), leave the business within 18 months. Some number of those are clearly licensees who did not complete the additional educational requirements.
This move is supported by the California Association of Realtors. In short, it will require all applicants after October 1, 2007 to complete all three courses before they can sit for the real estate salespersons exam.
Is this a good thing?
Yes. It is.
Many in the industry have complained that it is far too easy for one to obtain the real estate salespersons license. The failure rate among those who get their license is huge. At least 80% of agents fail within 18 months of getting their license.
The hope is that by increasing the requirements before the license can be obtained, applicants will be made more aware of the realities of the business of real estate and that those who are not fully committed will not wish to complete the added work before sitting for the license exam.
Frankly, I think it is a good idea. Anything that requires more of applicants is a good thing. However, none of the courses required for taking the exam are really going to make a potential applicant aware of the realities of the real estate business. The exam itself seems ignorant of the business of real estate itself at times.
So what does this mean for buyers, sellers and investors? We still have a year before this becomes the law here in California. Until tha time, you should continue to carefully evaluate those you are considering making your agent in a real estate transaction. Don't be afraid to ask questions about experience, past performance, references and areas of expertise.
For my part, I can only hope that this just the beginning of a trend that will allow only the most competent, knowledgable and dedicted to obtain a license as a california real estate salesperson.
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