A real estate company in Pennsylvania operates as a corporation. Under RELA, what special licensing requirements apply to a corporate real estate entity?
Correct Answer
D) The corporation must obtain a broker license, designate a broker of record who is an officer or partner, and register with the SREC
Under RELA, a corporation engaged in real estate brokerage must obtain a broker license from the SREC. The corporation must designate a broker of record who is a licensed broker and who is an officer, partner, or owner of the entity. The entity must register with the SREC.
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More Pa Licensing Requirements Ce Questions
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- → The SREC publishes a consent agreement with a licensee who committed RELA violations. What is a consent agreement?
- → In Pennsylvania, what is the National portion of the real estate salesperson exam?
- → How many hours of pre-license education must a candidate complete to qualify for a Pennsylvania real estate salesperson license?
- → Karen is a PA-licensed salesperson who has been inactive for several years. She wants to reactivate her license. Under SREC rules, what must Karen do?
- → A Pennsylvania salesperson was issued an initial license fewer than six months before the end of the current biennial renewal cycle. Under Pennsylvania State Real Estate Commission rules, what continuing education is required for that first renewal?
- → A salesperson in Pennsylvania changes their home address and phone number. Under SREC rules, what is their obligation regarding this change?
- → A PA licensee wants to voluntarily surrender their license. Under SREC rules, what happens when a license is voluntarily surrendered?
- → A PA licensee receives notification from the SREC that they did not complete sufficient CE for their last renewal. What is the typical consequence?
- → Under RELA, what is the SREC's authority regarding the approval of real estate education providers in Pennsylvania?
- → A salesperson in PA earns their license on January 1, 2025. Their license will first expire at the end of the current biennial renewal cycle. If the current cycle ends on May 31, 2026, how many months does the salesperson have their initial license active before the first renewal?
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A salesperson in Pennsylvania completes a transaction that results in a complaint to the SREC. During the investigation, the SREC finds that the salesperson acted without proper supervision from the broker of record. Who may face disciplinary action?
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A prospective salesperson in Pennsylvania has been convicted of a felony. Under RELA, how does this affect their ability to obtain a real estate license?