As real estate education 2010 year wines down.......- Nov 08, 2010 Archive
As the year wines down, real estate education for 2010 has seen some changes, both good and bad. A good change is the distance learning IDECC and ARELLO guideline requirements are now almost the same with each assessment quiz having to have three to one ratio of questions with each session quiz. This requires three separate exams, so if a student fails on the first quiz, they will not be taking the same exam questions for the second quiz and the third quiz if necessary.
More and more states are requiring ARELLO certification for their courses. One state certainly was West Virginia which, as of July, requires all online courses to be ARELLO certified.
The new NMLS mortgage license requirement has come into play this year and the new NMLS requirements do allow synchronous distance learning. The significance of this is that like appraisal licensing, being a national driven format, mortgage licensing education also now has a national flavor as both the appraisal and the mortgage license education process has national regulations. As a result, some states allowed distance learning for mortgage education and some did not, now the states will allow distance learning for mortgage licensing.
The bad is the number of students applying for licensing continues to be down. There was a little uptick at the beginning of the year, but the numbers have continued to drop. Plus more and more students are taking online courses, for they are more convenient and no travel expense involved, as a result, schools set up primarily for in class students are continuing to have difficulty.