Real License Research Articles

Asymmetric Information and Affiliations in Brokered Housing Transactions

This research provides evidence on the role of information asymmetry and personal affiliations in housing transactions using a novel dataset that allows observation of detailed information about the property, broker, and seller. Sellers holding a real estate license are found to obtain about 1.6 percent (or $3,200) more for their properties than unlicensed sellers, and sellers personally affiliated to a real estate licensee (e.g., spouses, siblings, parents) also obtain a premium of about the same size, all else equal. There is evidence from appraisal training that knowledge of property valuation further increases the price disparities, while informative public property records reduce price disparities. Agents and personal affiliates appear to use information advantages to time the market and capture capital gains. These new findings provide insights into the behaviors of market participants in asymmetric information environments.

Florida Real Estate License Aspirants, Students, and Candidates’ Dropout: A Qualitative Analysis

Real Estate is an industry playing a vital role in Florida’s economy, thus generating a substantial amount of interest in the general population. Obtaining a Florida Real Estate license it is not an easy task though. The object of the present investigation is to outline the local licensing process and discuss the different routes that lead aspirants to drop out from the licensing system without earning their personal objective. Despite the low pass rates at the state licensure exam it could be argued that non-academic factors may have even a more significant impact on the ultimate fate of Florida Real Estate license aspirants. Further research is needed to clarify the relative proportions of each separate dropout path because of the fragmentary nature of the information currently available. Keywords: real estate, Florida applicants, drop rates, licensure, aspirants DOI : 10.7176/JEP/10-11-02 Publication date : April 30 th 2019

Real Estate Pre-License Education: A National Call for Reporting Transparency

Abstract Using 43,285 results for Alabama real estate license exams administered over 13 years, we explore the relationship between examinees' pass-fail rates and the sources of their pre-license education. The findings reveal professional school graduates fare better than their non-professional school counterparts. This suggests non-professional schools should work to either improve their approach to real estate exam pre-license education, or leave it entirely to those doing so for a living. Our findings provided the basis for the Alabama Real Estate Commission's adoption of multiple policy changes aimed at improving the quality of Alabama real estate pre-license education and the pass-fail rates of future Alabama real estate license examinees. We call on all U.S. licensing authorities to adopt transparent reporting standards for real estate license education, including, at a minimum, public disclosure of pass-fail rates for both license test examinees and pre-license education providers.

Agency Content on Licensing Exams: Assessing Professional Competency

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.

A 3-D Transformation to Improve the Legibility of License Plate Numbers

In this paper, a novel three-dimensional transformation method for vehicle license plate number recognition is proposed. This method provides an efficient solution to normalize skew distorted vehicle license plate images. The Hough transform is used to estimate the license plate position and the normalization angle. After the three-dimensional transformation and normalization processes, the vehicle license plate numbers are recognized easily. Real vehicle license plate images are used to show the capability of the proposed method. The provided method is also useful for other skewed writings, such as the text printed on a suspect's shirt.

Real Property Brokerage Education and License Law

Executive Summary: This article examines the relationship between real property brokerage education and brokerage license law. A review of the literature reveals an absence of material on the subject, including any attempts to define a common body of knowledge for real property brokerage. The lack of agreement on educational standards is evidenced by widely varying requirements for pre- and post-licensing among the U.S. states and Canadian provinces. The needs of the license law authorities, educators and students are examined. The article concludes that a common body of knowledge for brokerage education must be defined, and that brokerage education must be elevated into the college and university curriculum.

Real Estate License Laws in Theory and Practice

Real Estate License Laws in Theory and Practice

Real Estate License Laws in Theory and Practice

Real Estate License Laws in Theory and Practice