(ANCHORAGE) - A bill requiring additional post-licensing education for new real estate licensees was signed into law yesterday by Governor Frank Murkowski. HB 169 was sponsored by Representative Norman Rokeberg (R-Anchorage).

Under the new law, real estate licensees, brokers and associate brokers are required to take 20 hours of post-licensing education within one year of receiving their initial license. The classes will be devoted to practical applications on such topics as contracts and agreements, agency and disclosures, paperwork and risk management, evaluating, pricing and marketing, and financing to closing.

"I was pleased to sponsor this legislation at the request of the Alaska Association of Realtors. It increases educational requirements for new licensees and will enhance protection and service to the public," said Representative Rokeberg.

HB 169 also made modifications to the current law that requires a broker supervise each transaction by allowing brokers to employ associate brokers or attorneys to assist in the orderly review of real estate transactions prior to the closing of the transaction.

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