Changes are coming to Washington's RCW's for the Real Estate Industry

If you have not heard about the changes that are coming to Washington State starting July 2010, here are some of the highlights:

• The educational rules are changing, we will only be allowed 15 clock hours of on-line credit towards our continuing education. Currently we have no restrictions on how much on-line credits we receive.
• All sales associates will be called brokers. Associate brokers will be managing brokers. Designated brokers will be the only agents with no name change to them.
• To become a licensed agent a person would need 90 hours of the appropriate real estate education if not licensed prior to July 2010.
• After July 2010, a designated broker can be so for more than one company. Thus a designated broker might split out the commercial business under one LLC, residential real estate as perhaps a second company or corporation and their vacant land sales under yet another third company. This would isolate each entity from the other and all the legal benefits that would come with that separation.
• A managing broker can be granted more authority than the previous associate broker designation such as supervision of teams in a large office.