It’s important to plan your CE strategically. Courses are available online, self-paced, or in live classroom settings, offering flexibility to fit your schedule. If you’re newly licensed after July 1, 2024, you’re exempt from these CE requirements for the 2025 term. However, keep in mind that CE credits do not roll over to the next cycle, and you cannot earn credits by retaking the same course within the same renewal period. You can find a variety of approved CE courses with Polley Associates School of Real Estate in the classroom, online and on livestream zoom.

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For Real Estate Salespersons:

Continuing Education (CE): You must complete 14 hours of continuing education. This includes specific mandatory topics for the 2024-2026 cycle:

• 3 hours on Fair Housing
• 3 hours on Agency
• The remaining 8 hours can be in elective topics. 
• First-time Renewal: If you’re renewing for the first time, you must complete 14 hours of mandatory Commission-developed modules, which include:
• 7-hour General Module
• Either 7-hour Residential Module or 7-hour Commercial Module
• Completion Period: All CE must be completed between August 30, 2024, and May 31, 2026.
• License Renewal:
• The renewal deadline is **May 31, 2026**. 
• You’ll receive a renewal notice from the Pennsylvania State Real Estate Commission (SREC) approximately 60 days before this date, sent via email to the address on file in the Pennsylvania Licensing System (PALS).
• Renewal must be done online through PALS. No paper applications are accepted.

Find Pennsylvania continuing education classes with Polley Associates in-person, online or livestream on zoom here.

For Real Estate Brokers:

Continuing Education (CE):** Brokers also need to complete 14 hours of CE, with the same mandatory topics as salespersons:

• 3 hours on Fair Housing**
• 3 hours on Agency
• The remaining 8 hours can be electives.
• Completion Period: Like salespersons, all CE must be completed between August 30, 2024, and May 31, 2026.
• License Renewal:
  • The deadline is also **May 31, 2026**. 
  • Brokers will receive an email notice from the SREC to renew through the PALS system. 
  • All renewals must be done online.
  • Fees: Similar to salespersons, there will be a renewal fee, which should be verified close to the renewal period.

Additional Points for Both:

• Late Renewal: If you miss the May 31, 2026, deadline, your license will expire, and you’ll need to go through the reactivation process, which includes paying a late fee and submitting proof of CE.
• Documentation: Keep your Polley CE transcript safe as the Pennsylvania Real Estate Commission may perform random audits.

Find Pennsylvania continuing education classes with Polley Associates in-person, online or livestream on zoom here.

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The journey from a salesperson to a broker also signifies a significant professional growth. With 240 hours of additional education covering real estate law, finance, and management, brokers gain a deeper understanding and expertise, equipping them to handle sophisticated transactions. Ultimately, the transition to a broker’s license in Pennsylvania not only broadens your business scope but also enriches your professional life with more control, knowledge, and opportunities.

Students who are interested in upgrading to a broker’s license looking for class schedules and more information on the requirements can find it here.

The post The Advantages of Becoming a Real Estate Broker in Pennsylvania appeared first on Polley Associates School of Real Estate.

• What kind of support and training does your brokerage provide to new agents?

This question will help you understand how the brokerage supports new agents and whether they invest in their development.

• What’s the commission split, and what are the fees that I have to pay?

This question will help you understand how much money you’ll make and what expenses you’ll have to cover.

• How do you help agents generate leads and grow their business?

This question will help you understand how the brokerage will help you build your client base and increase your sales.

• What’s the culture like at your brokerage?

This question will help you understand whether the brokerage’s culture aligns with your values and preferences.

• What kind of technology and tools do you provide to your agents?

This question will help you understand whether the brokerage provides the necessary resources to help you succeed in real estate.

• What kind of support do you provide for transactions and contracts?

This question will help you understand how the brokerage will help you navigate the legal and administrative aspects of real estate transactions.

By asking these questions, you’ll be able to gather important information about the brokerage and make an informed decision about whether this is the right real estate position for you.

In addition to asking the right questions, it’s also important to do your own research on the broker and their company. Here are a few things you can do to prepare for your interview:

• Look up the broker and their company online. Check out their website, social media profiles, and any reviews or testimonials from past clients or agents.
• Talk to other agents who have worked with the broker or company before. This can give you valuable insights into their experience and reputation.
• Attend open houses or other events hosted by the broker or company. This can give you a chance to see their properties and marketing strategies in action, as well as to meet other agents and clients.

During the interview itself, it’s important to be honest and open about your own goals and expectations. Here are some tips to help you make a good impression:

• Dress professionally and arrive on time.
• Show enthusiasm and interest in the broker and their company.
• Be prepared to talk about your own experience and qualifications, as well as your long-term goals in the real estate industry.
• Ask follow-up questions and engage in a dialogue with the broker. This can help you build rapport and show that you are genuinely interested in the position.

Remember, finding the right broker is a crucial step in building a successful career in real estate. By doing your research and asking the right questions, you can make an informed decision and find a broker who will support your growth and success.

Important Notice: Polley Associates is an independent entity and is not associated with any brokerage office. We do not offer a directory of brokerage offices to our students. It is the student’s sole responsibility to research and identify the brokerage offices that best match their requirements as a real estate agent.

The post Interview Questions to Ask a Real Estate Brokerage Office appeared first on Polley Associates School of Real Estate.

Step 1: Meet the Basic Requirements

To qualify, you must be at least 21 years old and hold a high school diploma or equivalent. Crucially, you need a minimum of three years of experience as a licensed real estate salesperson in Pennsylvania. This experience must accumulate to 200 points based on the state’s point system, where activities like closing deals, managing properties, or handling leases contribute points.

Step 2: Complete the Required Education

You’ll need to complete 240 hours of broker education, which translates to 16 credits. These must be from courses approved by the Pennsylvania State Real Estate Commission. This includes mandatory courses in Real Estate Law and Real Estate Brokerage, among others. If you possess a bachelor’s degree in real estate or a Juris Doctor degree, you might be exempt from some or all of these educational requirements. However, if not, you’ll need to enroll in these courses, which can be taken with Polley Associates either in-person, online or on livestream zoom.

Step 3: Pass the Broker Examination

After your education is complete, you’ll need to pass the Pennsylvania Real Estate Broker Examination. This exam consists of both national and state-specific sections, and you must score at least 75% on each to pass. To schedule this exam, you’ll need to apply for eligibility through the Pennsylvania Licensing System (PALS), submit the necessary fees, and provide documentation of your education and experience. Once approved, you can book your exam through Pearson VUE, the state’s testing service.

Step 4: Apply for Your License

With your exam passed, you’re ready to apply for your broker’s license. This involves submitting an application via PALS, along with a background check, proof of your exam results, and your broker education documentation. You’ll also need to decide on the type of broker license you want – whether you’ll be an Associate Broker, Broker Sole Proprietor, or part of a Broker Entity like an LLC or corporation. The initial licensing fee is $97, with an additional $40 for the broker examination.

Step 5: Maintain Your License

Once licensed, remember that Pennsylvania requires 14 hours of continuing education every two years to keep your license active. This ensures you stay updated with the latest in real estate law, ethics, and practice.

Students who are ready to begin the scheduling process can call the main Polley Associates office at 610.353.6776 or can schedule classes online and find more information here.

The post How to get a Pennsylvania Real Estate Broker’s License appeared first on Polley Associates School of Real Estate.

Step 1: Meet the Basic Requirements

Before you embark on this journey, ensure you meet these foundational requirements:

• Age: You must be at least 18 years old.
• Education: A high school diploma or equivalent (GED) is necessary. However, if you have a Juris Doctor degree or a bachelor’s degree with a major in real estate, you might be exempt from some educational prerequisites.

Step 2: Complete Pre-Licensing Education with Polley Associates

Pennsylvania mandates a significant educational component:

• Course Hours: You need to complete 75 hours of approved real estate education. This includes:
  • 30 hours of Real Estate Fundamentals
  • 45 hours of Real Estate Practice
• Where to Study: You can take these courses with Polley Associates School of Real Estate in-person in a classroom, livestream on zoom or online.

Step 3: Pass the Pennsylvania Real Estate Exam

Once your coursework is complete, you’re ready for the exam:

• **Exam Structure:** The exam consists of two parts:
  • A national section with 80 questions to be answered in 150 minutes.
  • A Pennsylvania-specific section with 40 questions to be answered in 60 minutes.
• Passing Score: You need to score at least 75% on both sections.
• Exam Provider: After you complete the required education with Polley Associates you will schedule with Pearson VUE who administers the exam. You can schedule your test online or by calling 833-551-0235. The fee is $49.

Step 4: Secure a Sponsoring Broker

In Pennsylvania, you must work under a licensed real estate broker:

• Brokerage: Research and choose a brokerage that aligns with your career goals. Consider the reputation, support, and culture of the firm. 
• Employment: You’ll need to be employed by or affiliated with a broker before applying for your license. They will sign off on your application as your sponsor.

Step 5: Apply for Your License

With your exam passed and sponsorship secured, you can now apply for your license:

• Application: Use the Pennsylvania Licensing System (PALS) to submit your application. You’ll need:
  • Proof of completed education
  • Exam results
  • Criminal history check (within 90 days of application)
  • Broker’s sworn statement of employment
• Fees: The initial fee is $107, which includes the license fee, application fee, and a contribution to the real estate recovery fund.
• Processing Time: Typically, it takes about 7 to 10 business days for your license to be processed and issued.

To being your real estate journey please check out the Polley Associates School of Real Estate pre-license education schedules here.

The post How to Get Your Real Estate License in Pennsylvania: A Step-by-Step Guide appeared first on Polley Associates School of Real Estate.

All Pennsylvania real estate licensees – salespersons, associate brokers, and brokers – must renew their licenses every two years. The current renewal period will end on May 31, 2024. In order to renew their licenses, real estate licensees (including brokers and associate brokers) must complete 14 hours of education during the renewal period. This MUST include at least 3 hours of training on the Required Topic: Broker Supervisory Duties, Policies & Risk Management, the remaining elective hours can be any topics approved by the Pennsylvania Real Estate Commission, with the following exceptions:

• Recent Licensees: Agents who are taking PA real estate continuing education for the first time must complete 14 hours of mandatory CE, with the General Module (7 hours) being a requisite. Students can choose their additional 7 hours from either the Residential Module or the Commercial Module, culminating in a total of 14 CE hours. It’s important to note this is the educational requirement for renewal the first time completing.
  
• New or reactivated Pennsylvania Licensees: Licensees who receive their first license within the last six months of the 2022-2024 renewal period (December 1, 2023 – May 31, 2024) are not required to complete continuing education. However, to renew their license, they must submit the renewal application and pay the relevant fees to the Real Estate Commission.

Finished CE? You’ll need to renew your license. The Pennsylvania State Real Estate Commission e-mails renewal notices two to three months before the license expiration date. Notices are sent via e-mail to e-mail addresses registered on the PALS

Is Your PA License in Escrow? Your license may be “in escrow,” or temporarily inactive if you decided against renewing it or missed the previous renewal deadline. You can’t legally work in real estate sales unless your license is active. We recommend you partner with your broker to fill out the application together to make sure everything is filled out properly. You may need CE to reactivate. Contact us for help with what courses to take for re-activation.

Not sure what to take? Contact us at 610-353-6776 or email polley@polleyassociates.com

The post Continuing Education Due by May 31, 2024 appeared first on Polley Associates School of Real Estate.

1. Check your smoke alarms: Make sure that you have working smoke alarms on every level of your home, including inside and outside of sleeping areas. Test them monthly and replace the batteries at least once a year.
   
2. Create a fire escape plan: Make sure that everyone in your household knows what to do in case of a fire. Practice your escape plan regularly and have a designated meeting spot a safe distance from your home.
   
3. Be careful with candles: Never leave candles unattended. Keep them away from anything that could catch fire, such as curtains or other flammable materials. Use candle holders that are sturdy and won’t tip over easily.
   
4. Keep your kitchen safe: Cooking is the leading cause of home fires, so it’s important to be careful in the kitchen. Never leave food cooking unattended, keep flammable materials away from the stove, and make sure that you have a fire extinguisher nearby.
   
5. Stay warm safely: If you use a space heater, make sure that it’s at least three feet away from anything that could catch fire. Don’t leave it unattended; never use an extension cord with a space heater.

Remember, fire prevention is everyone’s responsibility. Take these steps to protect yourself and your loved ones from the dangers of fire.

The post October is National Fire Prevention Month appeared first on Polley Associates School of Real Estate.

Real estate agents typically incur various expenses when running their business. These expenses can range from marketing and advertising costs, office rent, utilities, and insurance to technology fees, MLS dues, and professional development expenses. According to the National Association of Realtors (NAR), the median annual operating expenses for a real estate agent is $4,090, however, this figure can vary depending on the location, business size, and level of success.

In addition to these expenses, real estate agents also pay commission splits to their brokerage or franchise. Commission splits can vary, but typically range from 50-95% of the commission earned and are negotiable between the agent and the brokerage. Some brokerages may also charge additional fees for marketing materials, technology, and administrative support.

It’s important for real estate agents to carefully track their expenses and factor them into their budget and business plan to ensure profitability and success.

Here are ten tips for financial planning and budgeting as a new real estate agent:

1. Create a budget: Start by creating a budget that lists all of your monthly expenses, including rent/mortgage, utilities, car payments, insurance, groceries, and any other bills. This will help you understand your monthly cash flow and how much money you need to earn each month.
2. Track your expenses: Keep track of all your expenses, including business expenses such as marketing materials, MLS fees, and office supplies. This will help you understand where your money is going and where you can cut back if necessary.
3. Set financial goals: Determine your short-term and long-term financial goals, such as saving for a down payment on a home or paying off debt. Then, create a plan to achieve those goals.
4. Save for taxes: As a self-employed individual, you’ll need to pay taxes on your income. Set aside a portion of your earnings each month to cover your tax bill.
5. Build an emergency fund: Set aside some money each month into an emergency fund to cover unexpected expenses, such as car repairs or medical bills.
6. Live below your means: As a new real estate agent, spending money on luxury items to impress clients can be tempting. However, it’s important to live below your means and avoid unnecessary expenses.
7. Diversify your income: Consider diversifying your income by taking on additional work, such as property management or staging services.
8. Network: Networking can lead to new clients and opportunities. Attend local events and join professional organizations to meet new people in the industry.
9. Invest in your education: Stay up-to-date on industry trends and regulations by investing in your education. Attend seminars and take courses to improve your skills and knowledge.
10. Seek professional advice: Consider working with a financial planner or accountant who can help you create a personalized financial plan and provide guidance on tax planning and investment strategies.

Following these tips can set you up for financial success as a new real estate agent. Good luck on your journey!

The post Financial Planning and Budgeting as a New Real Estate Agent appeared first on Polley Associates School of Real Estate.

SFR course Details: Knowing how to help sellers maneuver the complexities of short sales and foreclosures, as well as help buyers pursue short sale and foreclosure opportunities are not merely good, but critical, skills to have in today’s market. While short sales and foreclosures are not for the faint of heart, agents with the proper tools and training can use these specialty areas to build their business for the long term.

As many agents can attest, your ability to close short sales and foreclosures depends partly on your confidence in seeing these transactions through.

Designed for real estate professionals at all experience levels, the Short Sales and Foreclosure Resource (SFR®) course offers information to direct distressed sellers to finance, tax, and legal professionals; qualify sellers for short sales, develop a short-sale package, negotiate with lenders, tap into buyer demand, safeguard your commission, limit risk, and protect buyers.

CONTINUING EDUCATION REQUIREMENTS:

All Pennsylvania real estate licensees – salespersons, associate brokers, and brokers – must renew their licenses every two years. The current renewal period will end on May 31, 2024. In order to renew their licenses, real estate licensees (including brokers and associate brokers) must complete 14 hours of education during the renewal period. This MUST include at least 3 hours of training on the Required Topic: Broker Supervisory Duties, Policies & Risk Management, the remaining elective hours can be any topics approved by the Pennsylvania Real Estate Commission, with the following exceptions:

• Recent Licensees: Agents taking PA real estate continuing education for the first time must complete 14 hours of mandatory CE, with the General Module (7 hours) being a requisite. Students can choose their additional 7 hours from either the Residential Module or the Commercial Module, culminating in a total of 14 CE hours. It’s important to note this is the educational requirement for renewal the first time completing.
• New or reactivated Pennsylvania Licensees: Licensees who receive their first license within the last six months of the 2022-2024 renewal period (December 1, 2023 – May 31, 2024) are not required to complete continuing education. However, to renew their license, they must submit the renewal application and pay the relevant fees to the Real Estate Commission.

The post Complete Your ABR® or SRS® Certification with the SFR® Elective appeared first on Polley Associates School of Real Estate.