Pennsylvania License Law
Which of the following persons is EXEMPT from Pennsylvania real estate license requirements?
AA property manager who collects rent for 5 rental properties on behalf of their employer
BAn attorney-in-fact acting under a power of attorney for compensation
CA person selling or leasing their own property✓ Correct
DA relocation company that buys and resells employee homes
Explanation
Under RELRA, owners selling or leasing their own property are exempt from licensing. Attorneys-in-fact acting for another for compensation and relocation companies typically require licenses.
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Key Terms to Know
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.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
State-Specific Concepts
License Law
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