Pennsylvania License Law
Which of the following activities does NOT require a Pennsylvania real estate license?
AListing a home for sale on behalf of another for compensation
BAn owner managing their own rental properties✓ Correct
CNegotiating a commercial lease on behalf of a tenant for a fee
DAssisting buyers in finding homes for a referral fee
Explanation
An owner who manages their own properties — even multiple properties — is not required to have a real estate license in Pennsylvania. The key exemption is that the person must own the property being managed.
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Key Terms to Know
Listing Agreement
A contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
EasementA non-possessory right to use another person's land for a specific purpose.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
State-Specific Concepts
License Law
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