News
Real estate license law changes effective July 1, 2010
Know your deadlines for passing real estate licensing exams:
On July 1, 2010, your real estate licensing requirements will change with the revised RCW 18.85 real estate licensing law.
You will be required to take a new exam and submit additional education if you don’t apply for your salesperson or broker license and submit your exam results by June 30, 2010. Your exam results may not be valid if you wait to get your license.
FAQ’s
If I pass the real estate license salesperson or broker exam, how long are my results valid?
Your results are valid until June 30, 2010.
If I take my exam before June 30, but wait until July 1 or later what will happen?
For Salesperson (Broker after June 30, 2010), you will be required to:
- Submit 60 hours of real estate Fundamentals and 30 hours of real estate practices education.
- Take and pass the new real estate broker exam.
- Submit your application and exam results for licensure.
- Submit 90 hours of real estate fundamentals education with 3 courses in brokerage management, business management and advanced real estate law.
- Submit proof of 3 years of real estate licensure.
- Pass the Real Estate Broker examination
- Submit your application and exam results for licensure.
Will a Designated Broker have the authority to be licensed to more than one firm at a time?
Yes, the Designated Broker will have the ability to be licensed to multiple firms as the Designated Broker only.
A Managing Broker for a firm must be registered to that firm as its Designated Broker if that Managing Broker accepts endorsements from other firms as their Designated Broker.
Currently the Designated Broker and the firm are issued one license. Beginning July 1, 2010 the designated broker and the firm will be issued two separate licenses.
When will the separate license be issued?
When you renew the firm/designated broker license, you will be sent two separate licenses. The licenses will be renewed separately every two years.
Are there any changes to education or education requirements?
Yes. The required education for pre-licensing and renewals has changed for salespersons and brokers. An applicant for the sales test (now a broker test) will need to complete a 60 hour Fundamentals class and a 30 hour Practices class to qualify for the broker exam. The educational requirement for the first renewal for a sales person (now a broker) has changed from the 30 hour practices course to the 30 hour advance practices, a 30 hour real estate law course and 30 hours of continuing education.
The educational changes for the broker applicant (now a managing broker) are in the pre-licensing. Currently 120 hours are required with proof of 2 years of active licensure; 90 hours will be required after July 1, 2010. These three classes; broker management, business management and advanced real estate law will be required along with proof of 3 years of active licensure.
My license is inactive. Will I need to provide additional education to activate my license after July 1, 2010?
Reactivation requirements regarding education will not change after July 1, 2010.
Will I need to take more classes to maintain my license?
There will be a transition course required for all licensees renewing on active status after July 1, 2010. This course will count towards your continuing education credits.
When the law takes effect on July 1, 2010:
- A salesperson license will continue to be in effect, but will be considered a broker license.
- An associate broker, branch manager, or designated broker license will continue to be in effect, but will be considered a managing broker license.
- All licensees will be required to take a transition course which will be approved for continuing education. The requirements for course length and content will be determined by the Real Estate Commission and the Department of Licensing.
- Licensees will be issued a new license after they complete the 3 hour transition course and when they renew their licenses the first time after the law takes effect.
- The education required for getting or renewing a license will change.
- The designated broker will be allowed to be licensed to multiple firms as the designated broker only.
- Firms will have the option to use one or more assumed names in the conduct and operation of their real estate business.
- The definition of “business opportunity” will have been clarified so a real estate license will be required only if the business opportunity includes an interest in real property.