California’s Real Estate Commissioner Quits

Via San Diego Union Tribune
By Lily Lueng

Jeff Davi, who’s been real estate commissioner for California during the industry’s highest peaks and rockiest lows, is leaving his post “to spend more time with his family,” said Department of Real Estate spokesman Tom Pool.

Davi, who was appointed by then-Gov. Arnold Schwarzenegger in October 2004, oversees the Department of Real Estate, which licenses and regulates real estate agents and brokers, now numbered at 462,000, Pool said. His last day is Friday.

The state agency also issues permits, which are required before developers can sell homes in subdivisions.

Davi saw the licensee population peak at nearly 549,000 in 2007; nearly 1 in every 50 California adults had a real estate license, and rendered over 10,000 disciplinary actions while in office.

In a statement released Monday, Davi called his decision to leave “bittersweet.” “We accomplished a great deal over the last seven years … I am also pleased to have orchestrated the transformation of the Department into a regulator that focused on its statutory core functions while also aggressively pursuing mortgage loan fraud through increased enforcement, consumer awareness, and consumer protection.”

Davi, 43, makes $11,323.33 a month as commissioner, or about $135,800 a year, according to Pool.

Gov. Jerry Brown has not yet named a replacement.

Davi lives in Monterey and is a real estate broker, his bio shows. Before leading the state agency, he managed a residential and commercial real estate firm run by his family. Davi’s also been the leader of the California Association of Realtors and other professional groups.