On August 27, 2012, the Governor signed AB 1718 (Hill, Chapter 193, Statutes of 2012) which amends Section 10150.6 of the Business & Professions (B&P) Code changing the work experience qualification requirements to obtain a real estate broker’s license.
The previous law allowed any degree from a four year college or university to be used in lieu of two years of experience as a licensed salesperson.
AB 1718, which became effective January 1, 2013, requires that the degree from a four year college or university that can be used to waive the two years full-time licensed salesperson experience must be in a course of study with a major or minor in real estate.
One of the problems with this new regulation is that there are no schools in the State of California that offer a major in Real Estate, and very few that offer a minor. Furthermore, many people who decide to become a Real Estate Broker do so later in life, after they have completed a degree in another field.
By passing this bill, the Governor and the California Association of Realtors are placing work experience over education, a complete backwards way of thinking.
Even if you do not pan on becoming a Real Estate Broker, this bill affects you as well. If laws that devalue education continued to be passed, your degree might be next.