Is Nationwide Real Estate Licensing Possible?
- Mar 05, 2010 ArchiveOver the years, since the beginning of real estate licensing, license laws have been developed by state legislatures, so as of today every individual state has real estate license laws as did each state have required education for mortgage broker and real estate appraisers. But over the last couple of years control by individual states over their education requirement has diminished as the federal government has started a process of standardizing the education requirements.
The real estate appraisal education requirements have been taken over by The Appraisal Foundation which has been authorized by Congress as the Source of Appraisal Standards and Appraiser Qualifications. Each state has to comply with this mandate.
The same is now happening in the mortgage broker field as the task of standardizing the educational process of mortgage brokers and mortgage originators is now the responsibility of the NMLS, National Mortgage Licensing System, which is now approving courses, instructors and mortgage schools providing the require programs.
As for real estate brokerage business, I really dont see this standardization happening anytime soon, but as distance learning comes more and more into play and as the development of distance learning plays a bigger and bigger role in the education of the real estate brokerage industry, course developers and providers continue to standardize 80% of the pre-license courses. Also, playing a bigger and bigger role in this gradual standardization is ARELLO and IDECC certification process, which are looked upon by many states as benchmark of the required certification of distance learning courses. As a result of certification process, being accepted by the states by the ARELLO and IDECC organization, this in itself has brought more and more interaction between licensing agencies and as a result of this, over time in my opinion, will bring licensing agencies and their state leaders come closer and closer together in their real estate license process.
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Frank Cooke
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Cooke Real Estate School