As the spring real estate season is upon us, more and more Kentuckians will be looking to live the American dream by becoming homeowners. For many, buying a home will be the largest financial decision of their lifetime.
Homebuyers and sellers often enlist the services of a Realtor.
In a rapidly changing industry, the Kentucky Association of Realtors, alongside the Greater Louisville Association of Realtors, felt it was time to raise the bar on professionalism in Kentucky through post-license education.
These groups, along with several others, including the Kentucky Real Estate Commission and local Realtor associations across the state, worked with Rep. Tommy Thompson, who sponsored the bill, Sen. Albert Robinson, Rep. Dennis Keane and 24 other co-sponsors to draft House Bill149 that would do just that.
They felt it was important that new real-estate licensees maintain a high level of knowledge and competency. Real estate is becoming, through increased regulations, tighter lending scrutiny, etc., a more complex trade to navigate and, with proper education, agents will be better prepared to serve clients and others involved in the transaction.
Beginning Jan. 1, 2016, new real estate licensees will be required to complete an additional 48 hours of post-license education within two years of receiving or activating their initial sales associate license. By doing this, Kentucky will join 24 other states with higher education requirements for new licensees.
The post-license education is designed to be similar to how a college curriculum compares to a high school curriculum. These additional 48 hours of education would consist of topics designed to provide real world scenarios and engage agents in more complex learning objectives than the pre-license curriculum.
Bringing more professionalism to the industry is the goal and the passing of HB 149 is one big step in the right direction.