A broker of record in Pennsylvania retires and leaves the brokerage. Under RELA, what must the brokerage do?
Correct Answer
A) Designate a new broker of record and notify the SREC immediately
Under RELA, a brokerage must have a designated broker of record at all times. If the broker of record retires, the brokerage must designate a new qualified broker of record and notify the SREC immediately. The brokerage cannot operate without a broker of record.
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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 real estate company in Pennsylvania operates as a corporation. Under RELA, what special licensing requirements apply to a corporate real estate entity?
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- → A PA licensee wants to voluntarily surrender their license. Under SREC rules, what happens when a license is voluntarily surrendered?
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