@Theresa Harris the ruling require exclusivity to the listing agent’s listings… one just becomes a client of the agent, who you happen to meet at one of their listings.  

They probably wouldn't recommend anyone do their own engineering or doctoring without being trained and licensed to do those things, but for some reason buying and selling a multi-million dollar home doesn't require training, education and practice...  

I also think you should be required to be licensed.

NV OR  and a few others require licenses to do this.

Something like that where you are paying a la cart fees that are applied at close under the buyer-broker agreement and commission agreement.Its going to be fun to figure out this year and next, I’m building basically a subscription based brokerage right now anyways where they sign up for the “plan” that suits them which will require the mandated buyer-broker agreement and commission schedule. 

Some may also require 12 month seasoning 

Not care, introduce legislation to bridge mortgage insurance requirements with lack of providers, get in the insurance market themselves?

Ask them when they issue distributions (anything before the 15th of the month is a red flag), do they require reserves, how is maintenance charged, do you see copies of outside contractor bills, do they upcharge materials (PM's have LAR accounts with Lowes and often get 20% off), do they keep all late fees or just the management fee, what other fees do they charge (renewals, inspections, etc), where are tenant security deposits held, how are evictions handled and are you consulted before filing, what screenings do they run, what qualifications do they require from tenants, ask for a couple other owners to visit with for a reference. 

That required $305k total as down payments.

You'll be required to pay annual dues for MLS access and to keep your license active.