Core Issue: Practice and Professionalism
The Real Estate Licensing and Registration Act (RELRA) governs the practice of real estate licensees in the Commonwealth and serves to protect consumers who work with real estate licensees. It is incumbent upon the association to enact laws that enhance the industry, both for its members and for consumers.
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RELRA Amendments Senator Tomlinson reintroduced legislation to amend the Real Estate Licensing and Registration Act to provide for the release of escrow and the formation of qualified associations.
Senate Bill 241 passed the Senate on June 10 and the House on June 30; Governor Rendell signed the bill into law on July 6 as Act 14 of 2009. The Act became effective on September 4.
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Appraisal Management Companies (AMCs) are unregulated entities. This has become a problem in Pennsylvania and across the nation with implementation of the Home Valuation Code of Conduct (HVCC). Legislation to provide for the registration of Appraisal Management Companies, House Bill 2334 (Stevenson, R-Mercer), has been introduced. PAR developed this legislation in collaboration with members of the Appraisal Institute and Representatives Dick Stevenson and Sue Helm. The task force also solicited input from the Pennsylvania Bankers Association (PBA) and various Appraisal Management Company owners from across the nation. PAR testified at a House Professional Licensure Committee hearing in May. HB 2334 is currently in the House Professional Licensure Committee with movement expected in the fall.