Puerto Rico’s real estate salesperson licence is issued by the Junta de Corredores, Vendedores y Empresas de Bienes Raíces (the Board), which operates under the Department of State. Before the Board will issue the licence, you must pass the reválida, the written licensing examination. This guide covers who qualifies, what you must do before sitting the exam, and what to expect once you pass.
Who can sit the Puerto Rico real estate salesperson exam?
To sit the reválida as a salesperson (vendedor) candidate, you must:
- Be at least 18 years old
- Hold a high school diploma or its equivalent
- Complete an approved 72-hour pre-licensing real estate course before the exam date
These requirements come from Ley Núm. 10 de 1994 (the law governing brokers, salespersons, and real estate firms in Puerto Rico) and the Board’s Aspirant Manual.
What is the difference between a vendedor and a corredor?
A vendedor (salesperson) works under the direction, supervision, and responsibility of a licensed corredor (broker). The vendedor holds their own licence but cannot operate independently. They must be employed or contracted by a corredor and must keep the Board informed at all times of where they work.
A corredor (broker) can operate independently and supervise salespeople. The broker examination has stricter requirements, including 60 university credits and maintaining a dedicated escrow account. Neither the 60-credit rule nor the own-escrow requirement applies to salesperson candidates.
What is the format of the reválida exam?
The reválida is a multiple-choice exam. It has 75 questions in total: 60 scored questions and 15 pilot questions that do not count toward your result. To pass, you need 42 of the 60 scored questions correct, which equals a 70 percent minimum passing score.
The Board does not publish an official time limit for the salesperson exam. Practice material covers five weighted topic areas: legal and juridical aspects, professional ethics, financing, zoning and permits, and the Property Registry.
Does a criminal record disqualify you?
The Board can deny a licence to an applicant convicted of a crime involving moral turpitude within the prior five years. Article 19 of Ley 10 also gives the Board broad authority to deny, suspend, or revoke any licence on grounds including fraud in obtaining it or a pattern of at least two sustained complaints. Candidates should disclose their full background on the application.
What is required to receive the licence after passing the exam?
Passing the reválida is one step. Receiving the licence itself requires:
- Surety bond of $10,000: required of both salespersons and brokers under Article 13 of Ley 10. The bond guarantees the licensee will comply with the law and covers losses caused by any breach.
- Sponsoring broker: the salesperson licence is tied to a corredor. The vendedor must notify the Board when they change employers.
- Display the licence publicly: once issued, the licence must be exhibited at the place of work.
How long does the licence last and what does renewal involve?
The licence is valid for 4 years from the date of issuance. To renew, you pay a $200 renewal fee and must show proof of at least 4 hours of continuing education per year. If you stop practising, you can place your licence on inactive status with the Board before expiration. Reactivating it later requires proof of completed continuing education and the renewal fee.
Is reciprocity available for licensees from other jurisdictions?
Ley 10 allows the Board to establish reciprocity agreements with states, territories, or countries that have substantially similar licensing requirements. Whether any specific jurisdiction qualifies is determined by the Board on a case-by-case basis. Contact the Board directly to confirm current reciprocity arrangements before applying.
Where can I find the official requirements?
The governing law is Ley Núm. 10 de 1994 (Ley para Reglamentar el Negocio de Bienes Raíces y la Profesión de Corredor, Vendedor o Empresa de Bienes Raíces), as amended, published by the Puerto Rico Office of Management and Budget at bvirtualogp.pr.gov. The Board’s Aspirant Manual (updated June 2024) sets the pre-licensing course hours and exam format details.
This article is an independent study guide and is not affiliated with the Puerto Rico government or the Junta de Corredores, Vendedores y Empresas de Bienes Raíces.