Real estate broker licenses.

Existing law, the Real Estate Law, provides for the licensure and regulation of real estate salespersons and real estate brokers. Under existing law, the Real Estate Commissioner may issue a real estate broker's license to an applicant who (1) has at least the equivalent of 2 years' general real estate experience or graduated from a 4-year college or university course with a specialization in real estate, (2) files a written petition with the Department of Real Estate, which is approved by the commissioner, setting forth his or her qualifications and experience, and (3) passes an examination and satisfies other requirements. This bill would instead authorize the commissioner to grant an original real estate broker's license to an applicant who (1) has at least the equivalent of 2 years' general real estate experience, (2) files a written petition with the Department of Real Estate, which is approved by the commissioner, setting forth his or her qualifications and experience, and (3) passes an examination and satisfies other requirements. The bill would also authorize the commissioner to treat a degree from a 4-year college or university, with a major or minor in real estate, as the equivalent of 2 years' general real estate experience.