How to Become a Real Estate Agent in Pennsylvania

To be a real estate agent in Pennsylvania, you must first obtain a license issued by the Pennsylvania Real Estate Commission. There are various requirements that must be met prior to applying for a real estate license including completing the required education at an approved real estate school.

Here's what you need to know to become a real estate agent in Pennsylvania:
1) Licensing Requirements
2) License Renewal and Continuing Education Requirements
3) What is a REALTOR®?
4) Income Potential
5) Real Estate Schools


How to Become a Real Estate Agent in Pennsylvania

1) Real Estate Agent Licensing Requirements in Pennsylvania
You MUST be licensed by the Pennsylvania Real Estate Commission  in order to be a real estate agent in Pennsylvania.

To obtain your license so that you can practice as a real estate agent in Pennsylvania, you must:

i) Satisfy the minimum requirements to apply to sit for the real estate exam:

             1) completed 4 credits or 30 hours in Real Estate Fundamentals and 30 hours in Real Estate Practice within the last 10 years.

             2) possess a bachelor's degree with major in real estate

             3) completed 4 credits or 60 hours of acceptable basic real estate courses at an approved real estate school.

ii) Submit completed Exam Registration form along with:

ii) Receive an Examination Eligibility letter upon application approval.

iii) Schedule, Take and Pass the Pennsylvania salesperson exam. The exam is 3 hours long, with 80 questions on the national portion and 30 questions on the state portion. To pass, you'll need to answer at least 70% correctly for the national portion and 70% correctly for the state.

iii) Complete and submit application for a Real Estate license to the Pennsylvania Real Estate Commission along with license fee of $89 for applications submitted between June 01 of an even numbered year and May 31 of an odd number year; $57 for applications submitted between June 01 of an odd numbered year and May 31 of an even number year.

 

2) License Renewal and Continuing Education Requirements

All Pennsylvania real estate licenses expire on May 31 of every even numbered year (2006, 28008, etc.).

To continue practicing as a real estate agent in Pennsylvania, you must also complete 14 hours of continuing education requirement. There is a renewal fee of $64.

 

3) What is a REALTOR®?

A real estate agent is a REALTOR® when he or she pays an annual fee to be a member of the National Association of REALTORS® and subscribe to its Code of Ethics.

The agent generally join through the local board or association.

For example, in Philadelphia, PA once you have obtain your real estate license, you may pay a fee to join the GREATER PHILADELPHIA ASSOCIATION OF REALTORS®.

Joining the local board makes you a member of the Pennsylvania Association of REALTORS® and the National Association of REALTORS®.

All REALTORS® are real estate agents but not all real estate agents are REALTORS®.

 


4) Income Potential
Real estate agents are generally paid based on a percentage of the sales price. The seller may pay 4 to 7% of the sales price as the fee and that will usually be split 50/50 between the seller and buyer's broker.

In Pennsylvania, the median home price is approximately $200,000. Assume that the fee is 6%, the buyer's and seller's broker is each paid 3% or $6000.

This fee is then split further between the broker and agent. Generally, for starting agents, the split is 50/50. So in this case, the agent will end up receiving $3000 for the transaction.

There is no limit as to how much an agent can make in a year - the sky's the limit.

Based on Pennsylvania's median home price and the above example, a real estate agent in Pennsylvania can make about $30,000/year by selling 10 houses a year. By selling one house per week, the real estate agent in Pennsylvania will have a salary of $156,040!


5) Real Estate Schools

The first step to becoming a real estate agent in Pennsylvania is to take the required classes at an approved real estate school. School status may change so it is best to call the Pennsylvania Real Estate Commission at  717.783.3658 prior to signing up for a class.

Below are real estate schools in Pennsylvania that are currently approved by the Pennsylvania Real Estate Commission.

Real Estate Schools in Pittsburg, PA:

Alan Kells Schools of Real Estate, Inc. 119 Gamma Drive
 RIDC Park
Pittsburgh, PA 15238
(412) 967-0240
Career Growth Real Estate Academy Suite 105, Building Nine
Parkway Center
James J. Skindzier Pittsburgh, PA 15220
(412) 937-1866
Real Estate Educators 9401 McKnight Road, Suite 302A
Pittsburgh, PA 15237
(412) 369-8771
Educational Development School of R.E. 9576 Perry Highway
Pittsburgh, PA 15216
(412) 343-4818

 

Real Estate Schools in Philadelphia, PA:

Greater Philadelphia Realty Board School 2010 Rhawn Street
Philadelphia, PA 19152
(215) 722-3400
American Real Estate Academy, Inc. 3901 Kensington Avenue
Philadelphia, PA 19124
(215) 537-9900

 

Also check out information on how to become a real estate appraiser in Pennsylvania

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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