Rothman’s Bill to Amend Real Estate Licensing Law Passes Senate
6/25/2018
HARRISBURG - Legislation authored by Rep. Greg Rothman (R-Cumberland), which would amend the Real Estate Licensing and Registration Act, passed the Senate unanimously, 49-0, and will head to the governor for his signature.

Under this legislation, real estate licensees would be permitted, with restrictive use, to conduct broker price opinions, or BPOs. BPO fees would be paid directly to the broker. The bill would also require agents to take a valuation certification course, be licensed for at least three years and take valuation courses each two-year cycle. The amendment would permit BPOs for entities or financial institutions.

“I believe that this bill will result in an enhanced level of service for consumers and a higher level of competency throughout the real estate industry,” said Rothman. “The bill is the result of a lot of compromise over three years, and I think it protects real estate brokers and appraisers equally.”

House Bill 863 would require additional training for salesperson pre-licensure education. The legislation would also increase pre-licensure education for new licensees by an additional 15 hours, allowing for a grandfathering process for those already enrolled in classes.

“Adding more hours to the training process will allow for new licensees to better serve their clients and give them a greater understanding of real estate transactions,” said Rothman. “I have worked with various real estate groups over the past three years to ensure every aspect of this legislation betters the real estate industry, for consumers and new licensees.”

Salesperson licensees would be required to complete all real estate courses within five years prior to the date of taking and passing the exam. The bill would require a high school diploma or equivalent for licensure as a real estate salesperson.

Representative Greg Rothman
87th Legislative District
Pennsylvania House of Representatives

Media Contact: Mike Madry
717.260.6587
mmadry@pahousegop.com
RepRothman.com / Facebook.com/RepRothman

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