Subject: File No. S7-26-07
From: Lewis Chamberlain
Affiliation: AIF

November 15, 2007

I don't think the SEC should be able to grant exemptions. As it's being recommended now I think it equates to a mere loophole akin to the Broker/Dealer exemption that was recently overturned.

I support the need for higher education and greater accountability in the real estate industry. I think that your "substantial experience" definition for realators needs to be modified to include the recomended designations AND actual commercial experience totaling 10 million or more in the last five years.