Rhode Island and Florida agree to real estate licensing reciprocity

Rhode Island real estate agents earn Florida license

Warwick Rhode Island- Rhode Island has entered into a licensing reciprocity agreement with the state of Florida. With this agreement, licensed Rhode Island real estate agents can now apply for their Florida license without full examination. According to Robert Scaralia Education Director for the Real Estate Institute Of Rhode Island the announcement of this mutual agreement by the two states is welcome news for both our real estate pre-licensing students and all current licensed real estate agents in Rhode Island.  Scaralia adds most Rhode Island real estate agents seek a Massachusetts and Connecticut reciprocal license primarily since Rhode Island agents often cross borders but Florida's appeal is strong because many agents retire to Florida or spend the winters months there.  For more information about the requirements to become a licensed real estate agent in Rhode Island visit www.InstituteRI.com

Real Estate Institute Of Rhode Island
22 Veterans Memorial Drive
Warwick, RI 02886
O. 401-943-8500
F. 401-943-6191
info@InstituteRI.com
 

Rhode Island real estate tops New England states

PROVIDENCE – The Home Price Index for Rhode Island real estate rose 8.4 percent year over year in January, the most of any New England state, according to CoreLogic Tuesday.

Nationally, the HPI rose 6.6 percent from January 2017 to January 2018. Washington HPI rose more than any other state in the United States, 12.1 percent year over year.

The January HPI grew at the following year-over-year rates in New England:

• Rhode Island: 8.4 percent
• Maine: 8.1 percent
• Massachusetts: 6.1 percent
• New Hampshire: 5 percent
• Vermont: 4.1 percent
• Connecticut: 1.7 percent

In the Providence-Warwick-Fall River metropolitan area, the HPI rose at 7.8 percent year over year in January. The Boston metro area rose at 5.7 percent during that time. CoreLogic said that both metro areas were properly valued in January, as well.

According to Robert Scaralia education director for the Real Estate Institute Of Rhode Island the state real estate market is experiencing record growth in some measure as a catch up to the other New England states and as an affordable option to the high home values in Massachusetts. Historically Rhode Island has been one of the last states to come out of a down market and this cycle is no different. Based on the current data we expect the Rhode Island market to remain strong for the foreseeable future. Scaralia added this is a great time for individuals thinking about pursuing a career in Real Estate, many brokerages throughout the state are actively looking for candidates interested in earning their Rhode Island real estate license. For more information visit www.realestateinstituteofrhodeisand.com for class schedules and enrollment. 

Sorce- Providence Business News

Real Estate Institute Of Rhode Island

22 Veterans Memorial Drive Warwick, RI 02886

401.943.8500

What is the difference between a real estate licensee and a Realtor?

Licensee

Warwick Rhode Island - The difference between a licensee and a Realtor is significant. A licensee is an individual who has successfully completed the state required licensing requirements. In Rhode Island candidates who wish to earn a real estate salespersons license must complete a 45-hour real estate pre-licensing course and pass an examination proving the applicant's knowledge of both modern real estate principles and practices as well as a separate examination proving knowledge of Rhode Island real estate law at this point, the individual is licensed to work for a broker and legally help buyers, sellers and renters complete a real estate transaction and receive compensation, this by definition is a licensee.  On the other hand, a Realtor is a licensee as well who has become a member of the National Association Of Realtors and in doing so subscribes to a strict code of ethics which holds the member to a higher standard of practice which goes above and beyond the states rules and regulations as it relates to a licensees conduct. According to Robert Scaralia education director for the Real Estate Institute of Rhode Island a leading real estate pre-license school and advanced education center for the advancement of real estate professionals states that the majority of newly licensed agents choose to affiliate with a brokerage firm that holds membership with the National Association of Realtors for not only the higher standards of practice but for the many other advantages that come from membership.  For more information about becoming a real estate agent contact the Real Estate Institute Of Rhode Island 22 Veterans Memorial Drive Warwick, RI 02886 401.943.8500 info@InstituteRI.com.

Realtor

A perfect Real Estate storm for Rhode Island

Rhode Island- With just 2497 single-family homes on the market in January.  Rhode Island had less than a three-month supply of listings in January, resulting in a single-family home market that significantly favored sellers. The low supply has resulted in lower sales numbers but home values have seen a 9% increase.

Rhode Island Real Estate Market 

According to Robert Scaralia Education Director for the Real Estate Insitute Of Rhode Island, anyone who has been thinking about selling now is the time to list their property.  The lack of competition in the marketplace is increasing property values so sellers are realizing greater returns. And, when buying their next home, they are taking advantage of the historically low-interest rates.

Scaralia noted that the median price rose 20 percent to $225,000 in the multifamily property sector and sales activity rose 3.6 percent year-over-year. Pending sales dropped 18 percent from the previous 12 months.

Condominium sales, the median sales price rose 15.6 percent from January of 2017, to $215,000.  Sales activity was at 11.5 percent while pending sales decreased 7.7 percent. Taking into account active properties for all categories of housing and the current level of demand plus the historically higher demand that comes with the spring and summer market it will create a perfect real estate storm in Rhode Island.  

For questions about buying or selling or advice on selecting a real estate professional contact: 

Robert Scaralia Education Director 

Real Estate Institute Of Rhode Island 

22 Veterans Memorial Drive

Warwick, RI 02886

401.943.8500

Info@InstituteRI.com 

Data and information provided by- Rhode Island Realtor Association and State-Wide Multiple Listing Service