LOS ANGELES, CA – August 28, 2012 – (RealEstateRama) — 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.