Pennsylvania Real Estate Education Provider Bond Guide
To become a licensed real estate educator in Pennsylvania, you need a $10,000 bond. Use this guide to learn more about the bonding and license process.
Bond Overview
- Purpose: To protect tuition payers and ensure financial responsibility
- Who Needs It: All real estate schools and course instructors in Pennsylvania
- Regulating Body: The Real Estate Commission
- Required Amount: $10,000
- Premium Rates: Starts at $75, credit-based
What Is a Pennsylvania Real Estate Education Provider Bond?
A Pennsylvania real estate school bond is a financial guarantee that educators will operate ethically. It also protects students and their tuition if the school goes out of business and stops offering courses.
How Much Do Real Estate School Bonds Cost in Pennsylvania?
Pennsylvania real estate education provider bond rates start as low as 0.75% of the required $10,000 bond amount. These bonds are underwritten, so prices vary based on financial risk factors, like credit score. With strong credit, you can expect to pay $75–$125 a year.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Pennsylvania Real Estate School Bond Work?
A Pennsylvania real estate education provider bond binds the following three parties in a legal agreement:
- Principal: The education provider filing the bond
- Obligee: The Real Estate Commission requiring the bond
- Surety: The provider issuing the bond
If you, as the principal, violate the bond terms, the surety will pay all valid claims up to the bond amount. However, it will be your responsibility to reimburse the surety provider.
Who Needs a Real Estate School Bond?
A real estate education provider helps people get their real estate licenses, by offering courses and guidance. Real estate education providers include:
- Real estate schools
- Real estate course providers
- Satellite locations
- Distance education instructors
All real estate schools in Pennsylvania need this bond to get approved and operate legally.
How Do I Get a Real Estate Education Provider Bond in Pennsylvania?
SuretyBonds.com provides the fastest and easiest way to get a real estate education provider bond. Just follow these three simple steps:
- Apply: Submit a free quote request online
- Sign: Once approved, sign the DocuSign for your indemnity agreement
- Purchase: Checkout online or over the phone
We’ll email you your official bond documentation once your purchase is processed. Sign and include it in your application packet to submit to the State of Pennsylvania.
Can I Get Bonded With Bad Credit?
You typically need a credit score of 660+ to qualify for a real estate school bond in Pennsylvania. Visit our bad credit bonding program page to learn more.
How Do I Renew My Real Estate School Bond?
This bond has a one-year term that ends on October 31st each year. To renew your bond, pay the invoice and then file a continuation certificate. A SuretyBonds.com representative will reach out to you with this information during the renewal period.
How to Become a Real Estate Education Provider in Pennsylvania
The state of Pennsylvania must approve all real estate education providers. To be eligible for approval, you must:
- Demonstrate good moral character
- Have an acceptable name
- Have a director of operations that meets state requirements
- Designate a person to take over records if you stop operation
Once you know you are eligible, gather these documents:
- Proof of a $10,000 surety bond
- A completed real estate education provider application
- A resume outlining your experience
- Two reference letters
- A completed real estate director application
- A copy of student enrollment agreement
- A copy of the school transcript
- A statement of the prerequisites for admission
- A tuition policy statement
- Payment for the $20 application fee
If you have pled guilty on any misdemeanor or felony charges, you will need to provide those court documents as well.
How Long Will My Real Estate Education Provider License Last?
A real estate education provider license lasts for two years. To renew your license, follow these steps:
- Complete 14 hours of continuing education
- Meet the original eligibility requirements
- Complete a director’s certification form
- List all courses and instructors that you wish to reactivate
- Pay the $375 reactivation fee
- Pay an additional $15 fee for every location, course and instructor
Visit the Commonwealth of Pennsylvania website to learn more about the reactivation process.
