A PA broker closes their brokerage permanently. Under RELA, what happens to the listings and the affiliated salespersons' licenses?
Correct Answer
D) Salespersons' licenses become inactive, and listing agreements terminate unless transferred to another brokerage with seller consent
When a brokerage closes, affiliated salespersons' licenses become inactive because they no longer have a broker of record. Listing agreements terminate unless the seller consents to transfer them to another brokerage. Salespersons must find new brokers to reactivate their licenses.
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More Pa Licensing Requirements Ce Questions
A salesperson in PA completes their CE online but cannot locate the completion certificate when it's time to renew. What should the salesperson do?
A PA licensee discovers that their CE provider falsified attendance records, reporting CE completion for licensees who did not attend the courses. What are the potential consequences for the provider?
A PA-licensed agent assists a client who is selling a PA property and buying a property in another state. For the out-of-state purchase, the PA agent refers the client to a local agent. What is the typical referral fee arrangement?
A PA broker wants to help a client purchase a timeshare in Florida. Does the PA broker need a Florida real estate license to assist with this transaction?
How many hours of continuing education (CE) are required for Pennsylvania real estate licensees during each 2-year renewal cycle?
- → 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?
- → 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?
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