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Compliance with Laws in the Real Estate Industry

Every industry is protected by laws that allow people to work and have a positive attitude towards people who enforce these laws. These problems sometimes become unbearable when the government starts enforcing multiple laws on the practitioners. In the real estate industry, realtors have a difficult time keeping up with the repeatedly changing regulations that restrict them from promoting their business or impose regulations on them that make decisions hard for them. These changing regulations restrict realtors from flourishing their businesses and expanding their networks.

These regulations, though, are meant for better for both realtors and buyers. It negatively affects buyers, sellers, and realtors’ relations. David Rodriguez, in his research, points towards the issue of increased listing and education needs for real estate practitioners (Rodriguez, 2016). The legislatures initially presented for the protection of consumers and to help real estate professionals. These legislatures created competition between the realtors and gave some more educated and licensed realtors an advantage over those who did not have the license or the necessary education. The research mainly focuses on the real estate licensing law and how it was changed by the government several times, affecting realtors and their practice. These laws resulted in the collapse of the real estate market. When made active in the 1980s, it increased the need for education and professional licensing for realtors. The realtors have also reacted to the continuous change of regulations and licensing needs, and attempts to make it essential faced a lot of opposition (Latham, 2017). However, as licensing was made necessary for the practice of real estate business, this regulation was finally accepted. This paper will help me understand the regulations that will apply to me as a realtor, what licenses I need to have, and how I will have to cope with the changes in order to continue my career in this field.

Rodriguez, David. “OCCUPATIONAL LICENSING CHANGES AND THEIR IMPACT ON THE REAL ESTATE MARKET.” B> Quest (2016).

This research is focused on the occupational licensing needs of real estate businesses. It describes how a number of regulations faced a lot of opposition in their application phase but proved to be beneficial for realtors after they were fully functional in the field. The research describes the education need and how many institutions are now providing knowledge about the regulations of the real estate business. David Rodriguez is a professor at Henderson State University, and his expertise in the field is visible in the research. This research is helpful in understanding the need for licensing and regulation and will provide me with knowledge about educational needs for the practice.

Latham, Mark. “‘A fraud, a drunkard, and a worthless scamp’: estate agents, regulation, and Realtors in the interwar period.” Business History 59.5 (2017): 690-709.

This research article describes the history of real estate practice and its barriers to the start. It describes how the initial attempts of law enforcement and licensing were rejected by the practitioners, but later, it was understood that these regulations actually benefited the brokers. This article describes how the need for a regulatory program arose for professional practice in the field and how it was immediately brought into practice. The author has enough expertise about the issue and presented good knowledge of the subject in the research. This research will help the reader understand the history of real estate broking and how the attempts made to create regulations resulted in a better future for real estate brokers.

Works Cited

Latham, Mark. “‘A fraud, a drunkard, and a worthless scamp’: estate agents, regulation, and Realtors in the interwar period.” Business History 59.5 (2017): 690-709.

Rodriguez, David. “OCCUPATIONAL LICENSING CHANGES AND THEIR IMPACT ON THE REAL ESTATE MARKET.” B> Quest (2016).

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