Right now, a real estate salesperson needs 12 months of experience working under a broker to earn their broker’s license. Under HB 1212, they could still do that, but would not be able to hire any salespersons for three years.
In his veto message, Bryant said the bill would be an over-burdensome law and a barrier to entry for potential brokers. He also said two more years of experience will not necessarily guarantee that a real estate salesperson will be better prepared to become a broker.
On both counts, Bryant is correct. Passage of this bill would make it harder to become a broker, which eliminates competition for existing licensees. Two more years of experience also won’t guarantee that a broker is more knowledgeable.
There isn’t some need for this. This is simply an attempt by current license holders to use the government to fend off new competition.
MCPP has reviewed this legislation and finds that it violates our principles and therefore should be opposed.
Read HB 1212.
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