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New License Retention Requirements for Real Estate

May 3, 2021 By WCAR Webmaster

What is changing?
Effective April 23, 2021, The Department of Licensing (DOL) no longer requires real estate licensees to give a paper copy of their real estate license to their firm or Designated Broker for retention.

The department also no longer requires the firm or branch license to be displayed at the licensed location.

Please Note: Your real estate firm may have different policies requiring a copy of your license. Check with your firm before making any changes.

Why is this change being made?
Printed licenses are no longer mailed to licensees or real estate firms or branches unless requested.

Licensees now receive an emailed electronic copy of their license. Real estate firms, and branches have access to their license and affiliated licensee roster through the online Business License Portal.

Who does this impact?
Real Estate Firms, Real Estate Branches, Designated Brokers, Managing Brokers and Brokers.

What will I need to do for an audit or if a consumer requests to see a license?
The Designated Broker and Branch Manager must have the capability of providing a copy of the firm or branch license and a list of affiliated licensees upon request of the department or the public.

From the online Business License Portal, a Licensee Relationships Report can be produced by following the steps below.

Who do I contact if I have additional questions?
Please email the Real Estate Audit Unit at REAudits@dol.wa.gov.

Filed Under: WCAR News & Updates

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