InfoPEI

HOME / GOVERNMENT / GOVINFO / LICENCE AND REGISTRATION / REAL ESTATE /

Real Estate License Saleperson or Agent (Broker)

How do I become a licensed real estate saleperson or agent (broker)?

How do I become a licensed Real Estate Salesperson?

To become a licensed Real Estate Salesperson an applicant must take the licensing course offered by the Prince Edward Island Real Estate Association (PEIREA) and pass the associated exam. You may contact the PEIREA to obtain information on the course at www.peirea.com.

In addition to completing the course an applicant must be sponsored by a licensed Real Estate Agent and maintain a $2,000 bond. The current fee for licensing or renewing a Salesperson's license is $200 for a two year term.

How do I become a licensed Real Estate Agent (Broker)?

To become a licensed Real Estate Agent or the Designated Representative of an Agent which is a corporation or partnership, an individual must pass a provincial administered exam and have been a licensed Salesperson for at least two years. In addition, an Agent must maintain a $5,000 bond. The current fee for licensing or renewing a license is $300 for a two year term.

Requirements for non-resident Applicants

All non-resident applicants will be required to take the licensing course offered by the PEIREA and pass the associated exam. Agents and Designated Representatives whose qualifications meet or exceed our provincial requirements will be exempt from the provincial Agent's exam.

An Agent must maintain a permanent office in the Province. In addition, a trust account and books and records pertaining to provincial transactions must be maintained in the Province.

To make application for a license contact the Insurance and Real Estate Section of the Consumer, Corporate and Insurance Division of the Office of the Attorney General.

The Real Estate Trading Act is online as a pdf document.

Forms

Application For Salesperson's License (Real Estate Trading Act)

Printable version of this form [123 KB PDF File]