PSI DC: Licensing Requirements
Continuing Education 15 hours includes:
- 9 hours of commission-mandatory courses - 6 hours of general electives - Licensees can get a 60 day extension with good cause
Salesperson Qualifications
- Ability to read, write, and understand English - Have a high school diploma/equivalent - Completed 60 hours or pre-license education - Be at least 18 years old - Pass the salesperson licensing exam with 75%^ - Have never had a licensee denied - Submit an application within 6 months of passing exam
General Activities that require a license
- Activities performed for others for a fee - Performing those activities without a fee likely doesn't require a license
license display
- All brokers and salesperson license must be displayed at the brokerage office
A Broker may employ
- Associate brokers - Other brokers - Salespersons - Property managers - Resident managers
Continuing Education
- Both Broker & Salesperson must complete 15 hours of continued education ever 2 years
Brokers can change their license
- Brokers can change their license from Broker to Associate Broker, or member or partner, trustee or officer of a business entity. - The commission must be notified by certified letter
Brokers Renewal
- Brokers must renew their license every 2 years, by February 28th of odd-numbered years
Inactive license
- Can be changed for 5 years - Reinstatement occurs if all CE requirements have been met and the licensee pays the reinstatement fee.
Entities applying for a real estate license
- Company must be organized according to law - Every person, member, partner, trustee or officer who is engaged in any real estate licensable activity must be licensed - Every branch office within the district must be managed by a real estate broker
Broker Qualifications
- Have 2 years of salesperson experience - Complete 135 Hours of broker Pre-licensing education - Pass broker exam with 75%^ - Submit app within 6 months of exam
Certain activities exempt for needing a license
- Individuals selling their own property - Individuals helping another find an apartment - Trustees - Executors - Public officers performing official duties - Persons acting under the judgement or order of a court - Certain property managers - These individuals cant employ or supervise real estate salespersons
Salesperson
- Is employed by Brokers to assist with real estate transactions under the brokers supervision
Associate Broker
- Is someone with a brokers license who chooses to work under another brokers supervision rather than independently
After 5 years of inactive license
- Lincensee's must reapply as a new applicant
licenses that expire
- May apply for the reinstatement in the same time period of 5 years and must prove that they've completed all CE requirements and pay the reinstatement fee
Reciprocity for MD/VA
- Must show proof of current license in good standing, - Complete a three-hour DC Fair Housing - Pass the state portion of the exam
Endorsement/Waiver License for DC and VA
- Must show proof of license in good standing - Demonstrate that pre-licensing education met or exceeded DC standards - Complete the FC Fair Housing course - Pass the state portion of the exam
Salesperson Renewal
- Salesperson renews their license every 2 year, by August 31st of odd-numbered years
Renewal Apps
- Sent by certified mail at least 60 days prior to license expiration - You can renew up to 60 days after renewal if you pay a late fee - If later you have to submit a reinstatement application
Termination or leaving a brokerage
- if a salesperson is terminated or otherwise leaves the brokerage, that broker is responsible for immediately returning the salespersons license to the Mayor
A Broker
- is a person who or entity that assists in real estate transactions for a fee or other valuable consideration - Responsible for day-to-day supervision
