The Alabama Real Estate Commission and staff traveled to Auburn to hold its monthly meeting for October. The only commissioner absent was Mr. Emmette Barran, while Ms. Juanita Taggert Jones was sworn in, representing the 7^th Congressional District. The commission elected new officers, following statutory requirements after a new commissioner joins, with Mr. Randy McKinney as chair and Ms. Betsy Echols as vice chair. Continue reading for highlights from the meeting. 

Preliminary license renewal numbers show a marked decrease in the profession. Real estate salesperson, broker and company licenses are renewed every two years, with 2024 being a renewal year. So far, around 17% of licenses have not been renewed – a markedly higher number than the 10% average from prior cycles. These numbers are preliminary – non-renewed licenses are no longer active after September 30 and lapse after one year. 

Commissioners approved the 2026 budget, which was stated to contain increases over 9% from 2025, to be sent to the Governor’s Office. Much of the discussion was over replacing the roof, which will be covered by insurance, and line items related to automobile purchases. 

As a reminder, the commission operates on fiscal years, October to September, and are currently operating under the fiscal year 2025 budget, which began October 1 and was approved by the legislature earlier this year. The 2026 budget must be reviewed and approved by the Governor’s Office and then approved by the Legislature during the 2025 legislative session.

The commission wrapped up the 2024 budget on September 30. Of note, commissioners were told at the meeting that the 2024 budget came out positively, with extra revenues and less expenses than expected.  

Several cases last week involved charges against a licensee for failure to report an arrest, lawsuit, or final adjudication of a lawsuit to the commission. Licensees were found guilty and fined $250 for each instance of failing to report, including the licensee’s broker who advised the licensee not to report a civil matter. As a reminder, licensees have ten (10) days to report these circumstances to the commission, whether the lawsuit is a civil or criminal matter. 

The last meeting of 2024 will be held in Montgomery on November 21 at 9 am.