Real estate broker fee

AN ACT Relating to extending the fee on real estate broker 1
licenses to fund the Washington center for real estate research and 2
adjusting the fee to account for inflation; amending RCW 18.85.451, 3
18.85.461, and 18.85.471; and providing expiration dates.4
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:5
Sec. 1. RCW 18.85.451 and 2015 c 175 s 1 are each amended to 6
read as follows: 7
(1) A fee of ((ten)) 20 dollars is created and shall be assessed 8
on each real estate broker and managing broker's original license and 9
upon each renewal of a license with an expiration date after October 10
1, 1999, including renewals of inactive licenses. 11
(2) This section expires September 30, ((2025)) 2035.12
Sec. 2. RCW 18.85.461 and 2016 sp.s. c 36 s 915 are each amended 13
to read as follows: 14
(1) The Washington real estate research account is created in the 15
state treasury. All receipts from the fee under RCW 18.85.451 shall 16
be deposited into the account. Moneys in the account may be spent 17
only after appropriation. Expenditures from the account may be used 18
only for the purposes of RCW 18.85.471. 19
H-0400.1
HOUSE BILL 1552
State of Washington 69th Legislature 2025 Regular Session
By Representatives Peterson, Low, Reed, Ormsby, and Hill
Read first time 01/23/25. Referred to Committee on Appropriations.
p. 1 HB 1552
(2) ((During the 2015-2017 fiscal biennium, the legislature may 1
transfer moneys from the real estate research account to the state 2
general fund such amounts as reflect the excess fund balance of the 3
account.4
(3))) This section expires September 30, ((2025)) 2035.5
Sec. 3. RCW 18.85.471 and 2015 c 175 s 3 are each amended to 6
read as follows: 7
(1) The purpose of a real estate research center in Washington 8
state is to provide credible research, value-added information, 9
education services, and project-oriented research to real estate 10
licensees, real estate consumers, real estate service providers, 11
institutional customers, public agencies, and communities in 12
Washington state and the Pacific Northwest region. The center may:13
(a) Conduct studies and research on affordable housing and 14
strategies to meet the affordable housing needs of the state;15
(b) Conduct studies in all areas directly or indirectly related 16
to real estate and urban or rural economics and economically isolated 17
communities; 18
(c) Disseminate findings and results of real estate research 19
conducted at or by the center or elsewhere, using a variety of 20
dissemination media; 21
(d) Supply research results and educational expertise to the 22
Washington state real estate commission to support its regulatory 23
functions, as requested; 24
(e) Prepare information of interest to real estate consumers and 25
make the information available to the general public, universities, 26
or colleges, and appropriate state agencies; 27
(f) Encourage economic growth and development within the state of 28
Washington; 29
(g) Support the professional development and continuing education 30
of real estate licensees in Washington; 31
(h) Study and recommend changes in state statutes relating to 32
real estate; and 33
(i) Develop a vacancy rate standard for low-income housing in the 34
state. 35
(2) The director shall establish a memorandum of understanding 36
with an institution of higher learning that establishes a real estate 37
research center for the purposes under subsection (1) of this 38
section. 39
p. 2 HB 1552
(3) This section expires September 30, ((2025)) 2035.1
--- END ---
p. 3 HB 1552