The latest BRE stats are out:
http://www.bre.ca.gov/files/pdf/reb/rebfall_16.pdf
Do you get the feeling that the real estate environment is like the wild wild west? Well, it is – there is virtually no oversight or enforcement going on:
Fiscal year 2015-2016
Licensee population: 408,357
Complaints received and screened: 6,207
Complaints assigned for investigation: 2,850
Complaints closed (no discipline recommended): 2,731
Complaints referred for disciplinary action: 1,144
Citations issued: 753
Licenses revoked: 411 (+18% from previous year)
Licenses suspended: 120 (+15%)
Licenses surrendered: 114
They are only revoking 0.1% of the licensees every year? No wonder we see felony fraud being committed every day! The last I heard, it takes 18 months for them to get around to answering a complaint. But now we know why – their budget is only $52 million per year:
Wow!
Reminds me of the guy that used to cut my hair. He told me that he can no longer cut my hair and that he was becoming a realtor. He then handed me his new business card.
Time to find a new barber!