Thursday, June 04, 2009

California Real Estate License Number Mandatory

California Senate Bill No. 1461 is effective as of July 1, 2009 and it has real estate agents scrambling to comply. This Bill amends Section 10140.6 of the Business and Professions Code. As of July 1st, it requires a real estate "...licensee to include his or her license identification number on specified solicitation materials, as defined, and on real property purchase agreements when acting as an agent in those transactions."

We've been putting our license number on the purchase agreements for some time now. The California Association of Realtors® purchase agreement has been updated to include a field for the information. However, completing this information has not been mandatory up to this point.

But, it does mean that to be compliant, we will have to print new business cards and other promotional materials including notepads, etc.

What is covered? The Business and Professions code states:
"A real estate licensee shall also disclose his or her license identification number on all solicitation materials intended to be the first point of contact with consumers and on real property purchase agreements when acting as an agent in those transactions... For purposes of this section, “solicitation materials intended to be the first point of contact with consumers” includes business cards, stationery, advertising fliers, and other materials designed to solicit the creation of a professional relationship between the licensee and a consumer, and excludes an advertisement in print or electronic media and “for sale” signs."

Reference: Senate Bill 1461 (note: this is a pdf file)

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