The regulation of licenses is an important function of the California Department of Real Estate. The DRE was established in 1917 with the formation of the first-ever Real Estate Law in the country. With this law, licensing practices and licensees are regulated in a manner which is emulated by many other states. The California Department of Real Estate exists to serve the real property market and protects the transactions occurring in the real estate field. The DRE grants licenses to Real Estate Brokers and Salespersons. Before applying for the real estate license, all the formalities of education and experience must be cleared. The DRE also handles the renewal of the licenses.