Utah Division of Real Estate Update
May 3rd, 2009 Categories: Real Estate News
Utah Division Of Real Estate Update
New things happened during the Utah legislative session this year and it affects our real estate industry.
Utah’s Governor Jon M. Huntsman Jr. signed bills that change our education requirements. First, our continuing education will change to eighteen (18) hours, currently it is 12 hours with 6 hours being core. Second, pre-licensing hours will increase to a minimum of one hundred and twenty (120) hours, currently it is 90 hours. The dates for when the changes will go into affect have not yet been announced. The Salt Lake Board will announce this information as soon as it is released. I was told by a reliable source any license that expires this year will fall under the current guidelines.
We still are the only profession that breeds part timers. As long as real estate has a fairly easy entry we will have a lot of part timers. So where do you draw the line between easy and keeping everything professional. IMNSHO I think we should raise the membership fee to $5,000 that will get rid of the not so serious ones and then you will see professionalism. Because there will a lot less part timers it will become a very respectable profession.
Third, Utah has finally dropped out of the top ten for loan fraud. Since Utah was number one in loan fraud for a very long time, this is quite the accomplishment. To be # 1 in loan fraud at our size is scary, we are a small market compared to other places like New York, Los Angeles, San Francisco, Dallas, Houston, Philadelphia, Seattle, Denver, Miami, and Atlanta the list goes on. The division strives to increase the professional level of our real estate agents as well as the industry. I agree the division has done some things to circumvent the fraud, but I really believe it has more to do with the banks tightening up their stuff than anything else.
Information gathered from the Salt Lake Board of Realtors weekly newsletter with my views and opinions thrown in.
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