Real Estate Regulatory Review
In early 2019, the Office of Professional Regulation (OPR) initiated a comprehensive review of Vermont's approach to the regulation of real estate brokerages, brokers, and salespeople. The review is governed by 26 V.S.A. Chapter 57. OPR's goal is to assess the effectiveness of our current regulatory structure and to identify opportunities for improvement.
To that end, and with grant support from the United States Department of Labor, the Office has proactively sought feedback and input from licensed real estate professionals, consumers, and related professionals, through the following actions:
- Convened stakeholders for six hours of open public hearings.
- Elicited written commentary from licensees, consumers, and related professionals.
- Studied regulatory structures in other jurisdictions.
- Conducted multiple surveys targeting different audiences as detailed below.
Survey Data Collection
Survey data collection began in August 2020, with outreach to actively licensed real estate brokers and salespersons. This was followed by targeted outreach to actively licensed Property Inspectors, Real Estate Appraisers, Land Surveyors, and related industry groups. Additional surveys were sent to attorneys who specialize in real estate transactions and to entities involved in housing and consumer advocacy.
Finally, in September 2020, OPR launched a two-part campaign to reach recent home buyers and sellers. This involved statewide advertising on Front Porch Forum, as well as a targeted postal mailing.
In total, OPR has gathered 1,718 survey responses from Vermonters in targeted professional and consumer cohorts, offering an extraordinary breadth of perspectives on real estate practice and regulation.
In January 2021, OPR will submit a report to the Vermont General Assembly further detailing the results from these surveys and outreach, and any recommendations for improvement to the regulatory structure. Once available, a link to the report will be included on this webpage, as will any updates on the regulatory review.
If you have comments or questions please send them to sos.opr.comments@vermont.gov.