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April 20, 2017

At the April meeting of the Tennessee Real Estate Commission, Commissioner Marcia Franks shared with the Commission that she had heard of new brokers failing to meet the 120 hour post licensing education requirements and electing to give up their existing license and being allowed to retake the PSI broker exam and simply acquire a new license and restart the clock on the 3 year requirement to obtain the post license 120 hours of continuing education.

Assistant Attorney General  and legal counsel to the TREC, Sarah Mathews pointed out that 62-13-303 (h) Qualifications - Prerequisites for licensing that the law states: “Within a period of three (3) years from the date of issuance of an original broker's license, the licensee shall, as a requisite for the reissuance of the license, furnish certification of satisfactory completion of an additional one hundred twenty (120) classroom hours in real estate at any school, college or university approved by the commission.” Ms. Mathews believed the wording in the law that the 120 hours had to be taken three years from the “issuance of an original broker’s license” was the key phase to enforcing a timely completion of the education and preventing the licensee from abandoning their existing license and retaking the exam for a new license.

Commissioner Marcia Franks also expressed her opinion that one of the underlying causes for new brokers not completing the education in a timely fashion was the cost of the education.

After considerable discussion, the Commission voted to instruction the TREC staff to stop allowing brokers to abandon their license and taking the test for a new one.

It is the opinion of this reporter, that the legal ability of the TREC to prevent a qualified individual from abandoning their license and retaking the test is limited as their license just expires for failure to complete the education and there is nothing in the law or TREC rules to prevent an individual who has an expired license from taking the test. In fact, there is a requirement that a person who’s license has been expired for more than a year, must retake the test..

While costs may be a contributing factor, here at the Career Institute have noted over the years that the time just escapes people and the deadline is suddenly there with few alternatives. At the Career Institute, there is an effort to keep the cost of the 120 hours down and our paper and pencil delivery method expedites the completion of the courses for some who cannot sit for 120 hours in a class room nor do they have that many hours to sit at a computer for an online course. Prior to the retirement of long time TREC education staff member Betsy Bowman, she would suggest new brokers in trouble with a rapidly approaching education deadline look at the Career Institute for a quick and affordable resolve.

I do recommend that if you have a rapidly approaching deadline, or if you are just looking to knock down the requirement in a logical and affordable fashion, that you look at the Career Institute for help. The Career Institute offers three courses which together equal 120 hours.  They can be found here:
Real Estate Continuing Education For Newly Licensed Brokers

Real Estate Commission to Prevent Existing Licensed Brokers from Retaking PSI Examination