Brown signs bill on broker's license requirements
College-degreed applicants must have major/minor in real estate
Gov. Jerry Brown this week signed a bill that closes a loophole in an applicant's experience requirements for a real estate broker's license in California.
Sponsored by the California Association of Realtors, the new rule states that 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, the law allowed an exception to the experience requirement for those with a college degree that included a specialization in real estate. The CAR said that over the years, the "degree broker" exception has been interpreted to apply to any degree.
Assembly Bill 1718 clarifies that the degree claimed as an exception must actually include a major or minor in real estate.