Real Estate License
How do I become a licensed Real Estate Salesperson?
To qualify as a licensed Real Estate Salesperson an individual 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, the 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 qualify as a licensed Real Estate Agent or the Designated Representative of an Agent which is a corporation or partnership, an individual must take the licensing course offered by the Prince Edward Island Real Estate Association (PEIREA), pass the associated exam and have been a licensed Salesperson for at least two years. You may contact the PEIREA to obtain information on the course at www.peirea.com.
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.
What are the requirements for non-resident applicants?
Salespersons and Agents whose qualifications meet or exceed our provincial requirements will be exempt from the applicable course/examination requirements outlined above.
However, all non-resident applicants will be required to take the Provincial Examination offered by the PEIREA and pass the associated 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 an application for a license contact the Insurance and Real Estate Section of the Consumer, Labour and Financial Services of the Department of Justice and Public Safety.
Who can I contact for more information?
Phillip McInnis (Compliance Officer)
Consumer, Corporate and Financial Services
Shaw Building, 4th Floor
95 Rochford Street
Telephone: (902) 368-4937
Fax: (902) 368-5283