Great News for Consumers

There are two new Bills that are sitting on Governor Schwarzenegger’s desk awaiting action that will certainly be beneficial to home buyers and homesellers. AB 1963(Leslie)Real Estate Brokers License and AB 2429 (Negrete McLeod)Real Estate Salesperson Licensure will benefit the consumer by providing higher standards for those entering the real estate field via Department of Real estate licensing and opening more opportunities for accountability in the provision of quality real estate service.
Currently, anyone with a four year degree can apply for a Broker’s license without having met the two year experience requirement. This enables someone without any real estate experience to conduct supervisory functions without any practical experience. The consumer suffers when unqualified people are licensed to conduct activities that require a good amount of experience. AB 1963(Leslie) will rectify this problem.
The higher standards called for by AB 2429 (Negrete McLeod) will also help protect consumers that rely on the fact that an individual is licensed by the State of California, and therefore assume that an individual is qualified to provide them with quality services. Experience has taught us all that the consumers’ assumption of “licensing” equaling “quality” service was incorrect. Many consumers have suffered financially by hiring an inexperienced agent to handle their real estate transaction, and there was no way to undo the damage. This is another step in the right direction.
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