How much does it cost(total) and what is required to get a Pennsylvania Real Estate License.?

Question

I have been a car salesman for the last 7 years and I need to change professions. I was always told if I could sell cars I could sell houses. Give me your opinion please. Thanks.

Answer 1

Best Answer - Chosen by Asker

To get licensed in PA you will need to take the two pre-licensing courses which total 60 class hours. Courses cost around $400. Once you pass these classes you must take the national and state portions of the test. At that point you can join a real estate company. Commision splits for new agents are typically 50% of your company's side of the transaction. Expect to shell out a good amount of money to become a real estate agent.

Typical 1st year fees:
MLS fees 100 per qtr = $400
MLS initiation fee = $100
REALTOR fees National, State, Local = $270
REALTOR initiation fee = $50
Company fees (low end) = $600
Errors and Ommissions Insurance = $500
RE License Fee = $98
Electronic Key = $150
Criminal Clearances = $66
RE Pre-licensing course =$400

That's over $2600 and not including any advertising, mailings, supplies, equipment, etc.

Subsequent years everything above except for initiation fees, pre-licensing, criminal clearances. RE License renewal is $98.. There is also continuing education requirements where you must pay for course work.

There is no salary involved. You may end up spending 30-40-50 hours with one client only to have then decide not to buy a home. So, be prepared for working for free.

Good Luck.

Asker's Rating:

Asker's Comment:

Pretty thorough, but awfully negative. Remeber I said I was a car salesman, I am used to the fees and lost sales.

Answer 2

Check your states website for educational requirements and testing. And then check with Kaplan University to see if they offer classes in your area.