Bill > A09518

This bill amends the real property law to increase the required period of supervision for individuals applying for a real estate broker's license. Previously, applicants needed to demonstrate either two years of active participation in the general real estate brokerage business as a licensed real estate salesperson under a broker's supervision or at least three years of equivalent experience in the general real estate business. This bill changes the requirement to four consecutive years of active participation as a licensed real estate salesperson under a broker's supervision, or an equivalent experience period, to ensure applicants have sufficient practical experience before obtaining a broker's license, thereby safeguarding public interests. The act will take effect 180 days after becoming law.