As a real estate professional, it’s important to be knowledgeable about the changing licensing and laws that may impact your industry. Whether it directly affects your license or the people you work with, it’s crucial to understand these changes. Without this expertise, you could be putting your professional license at risk. Here are the most recent real estate laws that could impact your career.
AB 2143 – Future Real Estate Employment
In some instances, employees do not leave their current employers on good terms. Instead, they leave due to extenuating circumstances that may require some form of employment settlement. Currently, California law does not allow businesses to place restrictions on future employment for employees involved in these settlements as long as they don’t involve sexual harassment or sexual assault. As of January 2021, real estate licensing law has been expanded and restrictions include all determinations of criminal conduct. Professionals will now be required to file a claim against their employer in good faith in order to avoid rehire restrictions. Additionally, all accusations of misconduct against employees must be submitted prior to the filed claim. This new law will allow real estate professionals to protect their future careers even if it’s outside of the current company they’re with.
Related Article: My California Real Estate License is Under Investigation. What Do I Do Now?
AB 1018 – Real Estate Appraisers
Real estate appraisers are currently subject to regulations, licensing, and discipline by the Bureau of Real Estate Appraisers. Under this board, real estate appraisers are prohibited from engaging in any real estate appraisal activity without an active or approved professional license. Anyone found guilty of these activities will face public discipline as deemed by the board. AB 1018 has expanded these restrictions.
Although this bill was approved in 2020, those applying to the Bureau of Real Estate Appraisers for the first time may be unaware of these new restrictions. Under AB 1018, home inspectors are also subject to these license expectations. This bill prohibits a home inspector from giving an opinion of valuation on a property without proper licensing from their board. The bill also prohibits a licensed real estate appraiser from acting as a home inspector in the event that one is not available.
SB 601 – Reduced or Waived License Fees
In late 2019, the state of California enacted SB 601. This bill was created to help professionals facing hardships, whether personal or economic, protect their careers. After the difficulties of 2020, many real estate professionals may be unaware that help is still available. Under SB 601, state licensing agencies must establish a process that allows displaced professionals to submit an application to reduce or waive fees associated with obtaining, renewing, activating, or replacing a professional license. With this bill in place, your real estate career is protected no matter what challenges you face.
Related Article: Case Study: Unlocking a California Real Estate License
Although these bills could impact your real estate career, new professional licensing laws are always on the horizon. It’s important to understand the full scope of expectations from your industry and licensing board. A professional license defense attorney can help.
Whether your license is currently in crisis or you’re applying for your real estate license for the first time, our team at Unlock Legal can help you protect and obtain your professional license. We are passionate about helping real estate professionals. We understand how crucial you are to our community and we will work to get you the best outcome possible for your case.
Unlock Legal provides focused representation in criminal defense and defense for California licensed professionals. Contact Unlock Legal today or give us a call at 949-268-2857 to speak with a professional about your case and your unique needs. You’ll find we are compassionate, easy to talk to, and willing to help in any capacity we can.