Becoming a real estate broker in Pennsylvania is a significant step up from being a salesperson, offering more autonomy, higher earnings potential, and the opportunity to manage your own brokerage. Here’s a step-by-step guide to achieving that broker’s license:
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.