Applications for a managing broker license examination by persons who do not possess three years of actual experience as a full-time broker as required by RCW 18.85.111
who show qualification by reason of practical experience in a business allied with or related to real estate shall be submitted to the real estate program. The application shall be accompanied by a letter requesting approval of alternative qualifications or experience and indicating the basis for such approval. The letter must include a detailed personal history or work resume, with supporting documentation, and a letter from each of five business references describing from personal knowledge the qualifications and experience of the applicant. The following guidelines are provided as examples of experience which may qualify in lieu of three years of full-time broker experience:
(1) Postsecondary education with major study in real estate together with one year experience as a real estate broker or one year experience under the provisions of subsections (2) through (7) of this section.
(2) Experience as an attorney at law with practice in real estate transactions for not less than one year.
(3) Five years' experience, with decision-making responsibility, in closing real estate transactions for escrow companies, mortgage companies, or similar institutions.
(4) Five years' experience with a commercial bank, savings and loan association, title company or mortgage company, involving all details of real estate transactions.
(5) Five years' experience as a real property fee appraiser or salaried appraiser.
(6) Five years' experience in all phases of land development, construction, financing, selling and leasing of residences, apartments or commercial buildings.
(7) Five years' experience in real estate investment, property management, or analysis of investments or business opportunities.
All time periods referenced in WAC 308-124A-713
shall be within the last seven years prior to the date of application.
[Statutory Authority: RCW 18.85.040 and 18.85.041. 10-06-078, § 308-124A-713, filed 3/1/10, effective 7/1/10.]