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The California Real Estate Association also supported California Proposition 10 on the November 1950 election ballot (adding Article 34 to the California Constitution and known as the "Public Housing Project Law") which made it significantly more difficult to build low-rent housing projects in California communities. [13]
The National Association of Realtors maintains rules that each MLS owned by a local association of Realtors is required to follow. In 1996, as part of its rules governing multiple listing services, NAR adopted a rule requiring Realtors to make "blanket unilateral offers of compensation" when listing homes for sale on an MLS. [7]
The Real Estate Commissioner is appointed by the Governor, and serves as the chief executive of the Department of Real Estate. [4] Chika Sunquist was appointed Commissioner of the California Department of Real Estate (DRE) by Governor Gavin Newsom on November 28, 2023, and she assumed office on January 3, 2024. [5]
The real estate surge is predicted to take place primarily in the South and the West, including states like California, a state with 10 regions in Realtor.com’s top 100 of 2025.
[20] [21] Realtor.com also entered into a partnership with Better Homes and Gardens Real Estate Service, beginning in 1998. [22] With more than 1.3 million listings by 1999, [23] [24] Realtor.com had become the largest website for real estate listings, and expanded services to include virtual tours of properties. [25]
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The California Real Estate Act has two core components: licensing and enforcement. [1] [2] Both licensing and enforcement functions are required by the Appraisal Subcommittee (ASC), the federal government organization which oversees all state real estate appraiser licensing agencies. [2]
Flat-fee real estate agents charge a seller of a property a flat fee, $500 for example, [11] as opposed to a traditional or full-service real estate agent who charges a percentage of the sale price. In exchange, the seller's property will appear in the multiple listing service (MLS), but the seller will represent him or herself when showing the ...