A loophole in the way the U.S. government lets real estate agents apply for licenses has allowed unscrupulous people to avoid paying a license fee.
They can instead make up a false address and fake a phone number.
And the bogus license applicants are more likely to fail, a new study suggests.
The findings are the latest in a string of troubling developments for real estate professionals who must deal with a wide range of complicated applications that require the licenses.
“It’s a very frustrating situation,” said Jonathan J. Lander, an associate professor at the University of Connecticut’s business school.
“You’re not going to get the right answer.
The people who are doing the right thing, they’re going to make it through.”
The new study is the latest effort to shed light on the complicated licensing requirements of the real-estate business.
The number of licenses granted in the United States jumped from 2.5 million in 2000 to nearly 11 million in 2015, according to data compiled by the U-S.
But some licenses are issued more than once and the numbers are not comparable across states.
The Census Bureau’s data is incomplete, and it’s difficult to determine how many licenses are held by people in each state.
To better understand how the licensing process works, Lander and his colleagues compiled data from a database of more than 500,000 real estate licenses issued in the U., according to a release from the University’s real estate school.
The researchers then created a virtual model to see how license holders would fare under the new rules, based on how many people had a license in each of the six states they studied.
The study also examined the licensing of people who had been licensed in the past three years, using data from the California Department of Business Oversight.
For the study, Langer and his co-authors looked at the license holder’s credit score, which was determined based on information such as credit-card purchases, home sales and mortgage transactions.
“We wanted to see if this could be used to determine whether people are doing well,” Lander said.
The result: They weren’t.
Langer said the researchers found that about 4 percent of license holders who were in good standing were in a bad situation and that 3.3 percent were in an average situation.
About 3 percent of those were in the worst situation.
And about 7 percent were actually doing well, according the study.
License holders are also required to pay the licensing fees for every two years.
The average licensing fee for license holders is about $1,700.
The U.K.-based National Association of Realtors, which is representing real estate brokers in the study and also represents the realtors who are licensed, said it found the study “highly misleading.”
The association said licensing is a business, not a profession.
“A real estate agent should never be a scammer or a con artist,” said John Taylor, a real estate broker at the association.
The National Association for Real Estate Brokers said the real number of licensees issued annually is probably low because it only accounts for those who have been in the business for at least three years.
“Licensing is not a job, it’s a way to get around state and local regulations,” said spokesman Paul Miller.
Lasser, who was a professor at UC Berkeley before he started his own real estate practice in San Francisco, said the research was surprising because it seemed to make no sense.
“The problem with all of this is that it’s very hard to make sense of it,” Lasser said.
“And this is an area where the government is trying to do a good job.
But you have a lot of these people, and a lot have not been educated.”
In addition to a license, Lasser has to be registered with the California Real Estate Board.
That allows him to get a business license in California and obtain a state-issued license in New York.
The real estate board said it has no information about license holders that haven’t been licensed.
Lerer said he is not concerned about getting a license because he’s a licensed real estate developer.
He said that would be a mistake because he would not want to be in a position where he would be sued for false statements, such as when he used a fictitious address to get licenses.
The California licensing board said in a statement that the study doesn’t address the licensing issues of real estate buyers, sellers and renters.
The bureau’s website says it has “been in contact with real estate licensing authorities and the Real Estate Professionals Association to learn more about licensing and compliance issues and to provide additional guidance to our members.”
The bureau did not immediately respond to a request for comment on the new study.
Leker, a registered real estate professional who has been a real-tor for nearly two decades, said that in his experience, people with license problems don’t always get help.
“I would say they’re not always going to be treated