文章基本信息

标题：Occupational Licensing Changes And Their Impact On The Real Estate Market
本地全文：下载
作者：David Rodriguez
期刊名称：B Quest
电子版ISSN：1084-3981
出版年度：2016
出版社：Richards College of Business, University of West Georgia
摘要：The significant changes that Illinois implemented in its real estate licensing standards from 2010 through 2012 provide for a natural examination of changes in occupational licensing and market responses. From a licensing perspective, that rewrite of the Illinois Real Estate License Act of 2000 increased requirements on education and experience while also retiring the salesperson license and creating a managing broker license. These changes were intended to better protect consumers and raise the industry’s professional standards. This study shows that the number of disciplinary actions increased during the transition period for some licensing categories but decreased in the post-period. The post-transition period also saw declining proportions of disciplinary actions as compared to total sales among relevant license categories. Both of these results support the legislation as a catalyst for change. A secondary finding is that the changes did not lower the overall exam pass rates at the broker and managing broker levels, which was expected with the increased standards. Over 92% of the broker and managing broker exams given the first full year had a managing broker level of difficulty, with a failure rate of 43%, which was not different from pre-legislation passing rates. Unfortunately, disciplinary actions as compared to the quantity of licensees showed conflicting results. The broker category showed constant improvement (a decline in disciplinary actions), but the managing broker category showed a continual increase in disciplinary actions as compared to the number of licensees. While the general pool of licensees improved post-legislation, the immediate benefit of a constant decline of disciplinary actions across all categories was not observed.