Compliance with Laws in Real Estate Industry

Published: 2021-07-07 00:00:14
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Every industry is protected by laws that allow the people to work having a positive attitude towards people who enforced these laws. These problems sometimes become unbearable when the government starts enforcing multiple laws on the practitioners. In real estate industry, realtors have a difficult time keeping up with the repeatedly changing regulations that restrict them in promoting their business or impose regulations on them that makes decisions hard for them. These changing regulations restrict realtors in flourishing their businesses and expand their network. These regulations though are meant for better for both realtors and buyers it affects negatively on buyers, sellers and realtors relations. David Rodriguez in his research points towards the issue of increased listing and education need for real estate practitioners (Rodriguez, 2016) The legislatures initially presented for the protection of consumers and help the real estate professionals. These legislatures created competition between the realtors and gave some more educated, and licensed realtors advantage over those who did not have the license or the necessary education. The research mainly focuses on the real estate licensing law, and how it was changed by the government several times affecting realtors and their practice. These laws resulted in the collapse of real estate market when made active in the 1980s it increased the need for education and professional licensing for realtors. The realtors have also reacted to the continuous change of regulations and licensing need and attempt to make it essential faced a lot of opposition (Latham, 2017). However, as licensing was made necessary for the practice of real estate business this regulation was finally accepted. This paper will help in understanding the regulations that will apply on me as a realtor, what licenses do I need to have and how I will have to cope with the changes in order to continue my career in this field.Rodriguez, David. “OCCUPATIONAL LICENSING CHANGES AND THEIR IMPACT ON THE REAL ESTATE MARKET.” B> Quest (2016).This research is focused on the occupational licensing need for real estate business. It describes how a number of regulations faced a lot of opposition in their application phase but proved to be beneficial for realtors after they were fully functional in the field. The research describes the education need and how many institutions are now providing knowledge about the regulations of real estate business. David Rodriguez is the professor in Henderson State University and his expertise in the field are visible in the research. This research is helpful in understanding the need for licensing and regulation and will provide me knowledge about educational needs for the practiceLatham, Mark. “‘A fraud, a drunkard, and a worthless scamp’: estate agents, regulation, and Realtors in the interwar period.” Business History 59.5 (2017): 690-709.This research article is describing the history of real estate practice and its barriers to the start. It describes how the initial attempts of law enforcement and licensing were rejected by the practitioners but later it was understood that these regulations are actually benefiting the brokers. This article describes that for professional practice in the field the need of a regulatory program rose itself and how it was immediately brought into practice. the author has enough expertise about the issue and presented good knowledge of the subject in the research. This research will help the reader understand the history of real state broking and how the attempts made for regulations resulted in better future for real estate brokers.Works CitedLatham, Mark. “‘A fraud, a drunkard, and a worthless scamp’: estate agents, regulation, and Realtors in the interwar period.” Business History 59.5 (2017): 690-709.Rodriguez, David. “OCCUPATIONAL LICENSING CHANGES AND THEIR IMPACT ON THE REAL ESTATE MARKET.” B> Quest (2016).

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