What's New in Real Estate?

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Real estate license law reformed:  A new licensing law will take effect July 1, 2010.

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to find out how these changes will effect you.

 

In order to become a licensed real estate salesperson, you must first complete an approved 60 clock-hour course in Real Estate Fundamentals. If you are an actively licensed salesperson or Broker, you will need 30-clock hours of approved real estate education including 3 clock hours of Current Issues In Washington Real Estate (CORE) in order to renew your license.  If you are a salesperson and renewing actively for the first time, you must also complete a 30-clock hour course in Real Estate Practices, for a total of 60 clock hours.

 

Know your deadlines for passing real estate licensing exams

On July 1, 2010, your real estate licensing requirements will change with the revised 18.85 real estate licensing law.  You will be required to take a new exam and submit additional education if you do not 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.

 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?

 You will be required to:

 

Salesperson

Broker

(Broker after June 30, 2010)

(Managing Broker after June 30, 2010)

 

 
  • ·         Submit 60 hours of real estate fundamentals and 30 hours of real estate practices education.
  • ·         Take and pass our new real estate broker exam.
  • ·         Submit your application and exam results for licensure.
  • ·         Submit 90 hours of real estate fundamentals education with three courses in brokerage management, business management and advanced real estate law.
  • ·         Submit proof of three years of real estate licensure.
  • ·         Take and pass our new real estate managing broker exam.
  • ·         Submit your application and exam results for licensure.

For more information, visit our website at www.dol.wa.gov/business/realestate.