Law and Rules Required Course (LARRC)

Of the couple of dozen continuing education providers that could have applied for the new, Agency required Advanced Practices that includes the 3 credit hour LARRC course, only four chose to do so.

The Law and Rule Required Course (LARRC) is required of anyone renewing their license after December 31st. 2010. Superior Schools at http://pro-studies.com and Careers Real Estate School at careersrealestateschool.com are the two Agency approved schools with the lowest prices (Only $28). In fact, if you would like to take the course FREE of charge, attend my class at the RMLS Trade Fair in North Bend on October 14th. If you can't make it then, check out my live instruction class list at Careers Real Estate School. For courses that have more than 3 hours, and still contain the LARRC material, both Superior Schools and Careers Real Estate School are offering over 150 hours of related courses.

What is your License Number?

The agency has made the largest changes in real Estate education since 1995. Among those are that Certificates of Completion for CE courses are now called Certificates of Attendance. As certified continuing education providers/Instructors begin to comply with the new Agency rules, brokers wanting to receive Certificates of Attendance for CE courses must know and report their license number to the course provider/Instructor. The license number must appear on the Certificate of Attendance as well as in the providers records. The new regulations require the provider/instructor to maintain a list of all attendies by name and license number. If the provider/instructor does not have the number they may refuse to give the Certificate until the number is provided.

New Brokers

Public confidence in the recovering market, and a desire of many for a new profession, has created an increase in persons seeking a career in real estate sales. The number of individuals passing the state exam in 2010 has met or exceeded 2009 in April, May, June and August. Year to date exam totals for August 2010 shows a 13% increase in the number of exams administered for the same period in 2009. The number of new brokers entering the field in 2010 has met or exceeded the totals for 2009 in all months except for January, February and July.

As the volume of sales decreased in 2008, more and more brokers went out on their own creating a large spike in new Sole Practitioner licenses being issued in January of 2009. With the recent changes in the licensing of Sole Practitioners (See previous blogs) the number of those acquiring the Sole Practitioner license again jumped from 14 to 67 in the last part of 2009.

While the current average of 66 new brokers currently entering the field per month doesn't match the 369 in June of 2005 it does show that the industry is turning around. The interesting sidelight of this is that the new entries are in many cases outproducing the "old timers." The new hires don't know what the "good old days" were like. While in the heyday of the market, selling was easy and those entering the field today are learning the basics and are capturing most of the sales volume.

For those with the ambition to have their own business that can be started with a minimal amount of money and be up to speed in 3 to 6 months, real estate sales is the profession to explore.