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The DRE was founded in 1917, when the California legislature enacted the nation’s first real estate law. In July 2013, the department briefly merged with the California Department of Consumer Affairs as the Bureau of Real Estate.
2021 California Senate Bill 9 (SB 9), [1] titled the California Housing Opportunity and More Efficiency (HOME) Act, is a 2021 California state law which creates a legal process by which owners of certain single-family homes in single-family zoned areas may build or split homes on their property, and prohibits all cities and counties from directly interfering with those who wish to build such ...
California also has high rates of migrants from other countries and states, [47] which has contributed to more demand for housing, and it has low amounts of moderately priced housing. The different tax treatment can make real estate more valuable to the current owner than to any potential buyer, so selling it often makes no economic sense. [3]
On August 17, a new set of rules governing the way most real estate professionals do business in the US officially take effect – and the changes could potentially upend the way Americans buy and ...
California now has an official state bat (the pallid bat) thanks to one new law, and an official state mushroom (the golden chanterelle) thanks to another. But other laws could have a larger impact.
The new rules “should lead to commissions falling 25% to 50%, which we view as benefiting online real estate brokers,” Seiberg wrote, but he warned it’s too early to declare “the end of ...
Real estate licensees and repossession agencies were declared to be governed by the California Business and Professions Code instead. [20] The proposed law also gives cities in the state the right to sue companies for violating the law, where previously they could not.
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]