Abstract
Knowledge of real estate agency law and practice is critical for a real estate agent to function as a competent professional. Over the past decade and a half, states have passed numerous agency initiatives, including agency disclosure, buyer representation, dual agency, designated agency, limited agency, and non-agency. The purpose of this study is to investigate whether state real estate licensing exams are sufficiently screening for minimum levels of competency in these relatively new representational environments. Surprisingly, it was found that there is a lack of any significant testing on jurisdiction-specific agency law and relationships in over half of the states. This result indicates a need for many real estate license law authorities to review and update the content of their licensing exams.
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