CEO Corner: Commissioner Anne Rubin
Pennsylvania Real Estate Commission Chair Anne Rubin stopped by the PAR office to discuss a variety of industry issues. Rubin has been a Realtor® for more than 30 years and is managing partner of Century 21 Advantage Gold in Elkins Park.
The top of our conversation was the approaching license renewal process and how agents can prepare for that. She said there are several steps all agents should make in order to prepare for their license renewal:
- Confirm their contact information is updated in PALS to ensure they receive email notifications from the state’s Bureau of Professional and Occupational Affairs. Renewal notices are expected to be sent in several weeks.
- New licensees should create an account in PALS. And they should make sure they have taken the specific 14-hour coursework required for their first continuing education cycle.
- Agents should check to make sure they have 14 hours of continuing education, including the required 3.5 -hour advertising and property management class.
- Talk to their broker about their renewal. Agent renewals will not be fully processed until their broker has completed theirs.
- Remember the online renewal deadline is May 31 and the bureau will not allow any extensions.
One aspect of this year’s renewal that many may not be aware of is the additional $10 fee that licensees are required to pay toward the Real Estate Recovery Fund. The fund was established by the Real Estate Licensing and Registration Act to provide reimbursement to victims of fraud, misrepresentation or deceit committed by real estate licensees during the course of a transaction. By law, the commission must maintain a minimum balance for recovery purposes and because the fund is nearing that limit, licensees are required to pay the additional fee.
Rubin noted that property management claims have attributed in large part to the depletion of the recovery fund. She anticipates that the additional education real estate licensees are required to have regarding property management may help reduce the number of claims filed in the coming year.
To see more of my conversation with Rubin, watch the video.