Real Estate Licensing in CA, a report by CAR

Just the Facts from October 2013.  Total number of licensees on 10/31/13 was 424,941.  The big news is that this is the first increase for month to month figures since the Market Recession.  At the end of September the number was 423,338.  Okay, it is only an increase of 1,603, and it is many agents less than the peak in 2008 of over 548K, but it is an increase. 

One part of the increase is coming from increases in applications for the Salespersons license. The percentage of increase YTD is 49% over just two years ago. That is huge.  Another section of the increase is renewal rates.  Broker renewal rates were 80.1% YTD from July 1st through October which is up, but Salespersons renewal rates increased to 77.6% from 54.9% two years ago.  That is also huge.

Sad news:  The passing rates on the exams are decreasing.  I have mentioned that a Task Force formed by BRE designed many new questions a few years ago, and these questions are being added gradually.  Broker passing rates two years ago were 51%, YTD and through October were 43%.  Salespersons passing exam rates were 63% two years ago, and now have dropped to 51% YTD and a low 40% for the month of October.

Translation:  People are staying in the field and more people are coming in to real estate even with the lower passing rates so you should move now and get your license or renew your license.  Don't miss 2014.

Article Credit: - California Association of Realtors.