The problems plaguing the real estate industry are not limited to, nor even materially affected by, the so-called "newbies," who are often mentored by more experienced agents, particular at responsible firms.

Rather, much of the information on which new licensees are tested is often forgotten in the months after receipt of a passing grade on a state licensing examination, with the retention of important laws and requirements becoming ever more vague as the years roll on.

The fiduciary requirements of an agent to his/her principal is often compromised in the urgency to get a deal done. Moreover, all too many continuing education courses are little more than fluff through which people must sit for a specified number of hours and require no test or other measurement of information learned or retained.

With 15 years as a developer, home builder, Realtor and member of my local board's grievance committee, I am convinced that the lack of professionalism and adherence to the ethics standards on which the National Association of Realtors is spending so much to advertise is far more prevalent with agents and brokers who have been in the business for a number of years. Unfortunately, the system to weed out these types of individuals is frequently compromised of, unless there is money at stake, agents who are reluctant to report other agents or brokerages with whom they may have to work in the future to their local boards or state real estate commissions.

California Insurance Commissioner John Garamendi announced Thursday that Safeco is seeking a 20 percent reduction in homeowners' insurance rates.

Safeco -- which the Department of Insurance says is the eighth-largest homeowners' insurer in the state -- is the fourth company to agree to slash homeowners' insurance rates under pressure from the state.

In June, Garamendi ordered four insurers -- Safeco, State Farm Insurance, Allstate and Farmers -- to justify the rates they charged for homeowners' insurance, claiming the companies paid out far less in claims than they collected in premiums.

A study commissioned by the state found that in 2005, State Farm paid 37.6 percent of each homeowner's insurance premium dollar for claims; Allstate paid 41 percent; Farmers paid 37.7 percent; and Safeco paid 26.31 percent.

Garamendi said Safeco's rate reduction would save consumers an average of $190 a year, or $36 million altogether. State Farm Insurance has requested a 10.6 percent reduction in homeowners' insurance rates, which Garamendi says will save 1.2 million homeowners an average of $103 a year.

Two other homeowners' insurers, USAA and The Hartford Insurance Co., have agreed to rate reductions. USAA filed for a 22 percent reduction in August, and The Hartford Insurance Co. in June asked the state to approve an 18 percent decrease in homeowner and renter premium rates.

Garamendi, who is running for lieutenant governor in the November elections, is also proposing a 23 percent rollback in title insurance rates in March. The title insurance and escrow industries are fighting the proposed $1 billion-a-year rollback, saying the state must prove a lack of competition in the industry in order to cap rates.

This is cache, read story here