Washington State's New Real Estate Licensing Law Facts

July 1, 2010 is the date for the new Washington State Real Esate Licensing Law to go into effect. We, in Washington State, often refer to it as RCW 18.85.

What RCW 18.85 does is change license structure and provides for new education requirements.

The New Structure looks like this:

•1. All licensed Salespersons will be considered Brokers.

•2. All licensed Associate Brokers and Designated Brokers will be considered "Managing Brokers".

•3. All Designated Brokers will also be considered "Licensed to the Firm".

The New Education Requirements to Obtain a License:

•1. Brokers (Salespersons):

•a. Pre-license Requirements - 90 hours of education in - Fundamentals (60 hours) and Practices (30 hours).

•b. 1^st Renewal Requirements - 90 hours of education in - Advanced Practices (30 hrs), Real Estate Law (30hrs), Core: Current Trends & Issues (3hrs) and Elective Courses (27hrs)

•c. Renewal Requirements - Core: Current Trends & Issues (3hrs) and Elective Courses (30hrs).

•2. Managing Brokers (Associate Brokers and Designated Brokers):

•a. Pre - license Requirements - 90 hours of education in - Advanced Real Estate Law (30hrs), Brokerage Management (30hrs) and Business Management (30hrs).

•b. Renewal Requirements - Core: Current Trends & Issues (3hrs) and Elective Courses (27hrs).

For those who are a new and a currently licensed salesperson and your first license renewal falls after July 1, 2010 you will be required to take all the education listed above for a Broker's first renewal (90 hrs) as well as the Transition Course.

The Transition Course Requirement:

All licensees will be issued their new licenses upon their first renewal after July 1, 2010. In order to be issued a new license, all licensees are required to take the new 3 hr Transition Course.

Well, there you have it - RCW 18.85.