Senate Enrolled Act 615 Summary

• Extends broker license terms to three years with expiration dates set by the licensing agency, effective July 1, 2014

• Allows real estate schools to offer prelicensing courses beginning July 1, 2013, with individuals receiving credit regardless of when the course is completed relative to July 1, 2014

• Requires prelicensing and continuing education instructors to obtain permits from the commission, valid for three years, with annual four-hour continuing education requirements specific to real estate instruction

• Establishes permit requirements for real estate schools including monthly course roster submissions, available instructors during business hours for online courses, and annual course listing filings

• Transitions valid inactive salesperson licenses issued before July 1, 2014, to broker licenses, requiring individuals to complete 24 hours of broker education and meet licensing requirements before performing broker activities