Pursuing a Career in Real Estate: A Step-by-Step Guide to Getting Your License in Pennsylvania
The US real estate industry is on an upward trajectory, and it’s expected to grow by at least 5% before 2031. That means finding jobs in this emergent industry can be a fairly straightforward process. But before you can get a job in real estate, you need a license. Not just anyone can apply for a real estate license in the US. You need to meet certain requirements and successfully complete several exams before you can start actively brokering properties. These rules exist to ensure that only those with a clear understanding of property law are able to sell it to potential homeowners. To make things even more complicated, the requirements for a license tend to vary depending on which state you are in. In this post, we’ll be focusing on the state of Pennsylvania.
6 Steps to Get Your Real Estate License in Pennsylvania
While obtaining your real estate license in Pennsylvania may not be easy, the process is simple. You can learn everything you need to know about getting your real estate license in Philadelphia, PA by following these six steps.
- Be of age
The first box you need to tick for obtaining a real estate license both in Pennsylvania and all other states in the US is to be above 18 years of age. This benchmark exists to ensure that the only people allowed to sell property are fully-fledged adults.
- Complete your exam
In order to become a licensed real estate broker, you need to complete an exam and 75 hours of real estate education. This ensures that every license holder has a complete understanding of the industry.
The exam entails a variety of different actions and tests, all of which must be approved by a licensing agency. It necessitates the following accomplishments:
- 75-hour Master Exam Preparation Package
- 45-hour Real Estate Practices
- 30-hour Real Estate Fundamentals
Once you have completed and passed these educational exams, you can move on to the next phase of the licensing process. Doing research and comprehensive studying beforehand is advised.
- Pass a background check
If you want to become a real estate broker, you have to pass a background check to make sure you are a law-abiding citizen. This entails visiting a police station and obtaining a report of your criminal history. If you have a criminal history, you may still be able to get a real estate license. However, this depends on the scale and severity of the crime(s) you’ve committed.
- Take the Pennsylvania National Licensing Exam
Next on the list is to take the PA National Licensing Exam. This is an online exam that proves you know all the fundamentals of real estate brokerage. It’s the last exam you’ll have to take in this process.
- Obtain a brokerage sponsorship
You can’t practice real estate brokerage without a sponsor. You can acquire this via any fully licensed real estate broker or agency, who you will then operate under. There are lots of different types of brokers to choose from, so make sure the one you pick is in alignment with your future plans.
- Apply for your Pennsylvania real estate license
That’s it. You now have everything you need to officially apply for your PA real estate license. To do this, you must fill in and submit an application through the Pennsylvania Real Estate Commission. You can find more information about this application on the PALS website. Applications cost $107, but once you have yours, you’re free to go forth and start brokering properties all over Pennsylvania.
What’s The Property Market Like In Philadelphia, PA?
If you live in one of Pennsylvania’s many beautiful cities, you’re in luck. Property prices and trends may fluctuate, but this city has a fairly consistent track record when it comes to the housing market. Since 2021, there has been a high level of buying activity in the Philadelphia area. The demand is there, with the only issue being competitive supply. The most popular types of property that sell are residential home properties. However, commercial properties are also consistently popular. When you’re starting out, it’s not a bad idea to buy real estate leads that target your preferred target market. This will give you a competitive head start and help you to find serious buyers and sellers in your area.
Set Yourself Up For A Successful Career In Real Estate
Working in the real estate industry is a great way to earn an income and follow a consistent career trajectory. Real estate will always be in demand, and if you meet the license requirements, there’s no reason you shouldn’t be able to become a successful real estate broker in the US.