How to Get a Real Estate License in Ohio?
Have you ever wondered about a job that offers you high pay and has rewarding work? If you answered yes, you may want to consider working as a Real Estate Agent. This career gives you the opportunity to help people and businesses buy their dream houses and offices, which can be a gratifying experience.
In Ohio, to start getting paid for helping people buy and sell their homes, you’ll need to get your real estate license. However, first, you’ll need to know all the state rules and regulations.
Getting your Ohio real estate license may be a difficult process, but we’re here to help you every step of the way. Here are the essential things you need to know before starting the process.
Pre-qualification for Getting a Real Estate License
Candidates seeking an Ohio real estate license should meet the following requirements:
- Above 18 years of age,
- US Citizen,
- High school diploma or its equivalent,
- No felony convictions, and
- No civil rights violations related to real estate within two years before applying for the license.
5 Steps to Get Your Ohio Real Estate License
1. Complete 120 hours of Approved Pre-Licensing Education
Once you fulfill the pre-qualification, you must take 120 hours of an approved course for pre-licensing. This course will get you through the different aspects of the real estate agent profession. The 120 hours course is split into multiple parts so that you get acquainted with all the necessary elements of the job.
- Principles and practice course 40 hours
- Real estate law course 40 hours
- Real estate finance course 20 hours
- Actual estate appraisal course 20 hours
2. Pass the Final Course Exams
You must pass the course final exams with a score of 70% or higher. Course completion certificates are valid for ten years after they are issued.
3. Select a Sponsoring Broker
Second, the essential requirement is to find the right brokerage to partner with you. Before choosing the correct broker, you should see whether they give a mentorship and training program or not. The mentorship from a broker plays a vital stage at the initial phase of your career as a real estate licensing agent.
In this training period, you have to focus more on the learning process than the commission cap to be achieved. Training sessions with correct mentors will give you better experience and knowledge to improve your skills. It is advised to interview multiple sponsors to know the best one for you.
After you have completed the 120 hours of state-approved licensing course and found the right broker partner, it is time to apply to take the licensure exam, which is provided by PSI, or professional service industries.
To get started, submit your exam application, and pay the application fee. You will need to have proof of your 120 hours of coursework to be approved. You will be required to provide basic information related to you and your legal history and submit to a background check. They will also ask you to fill in the details of the broker you partnered with, and the firm’s contact details.
4. Complete the Real Estate License Application
After you application is complete, your information is transferred to PSI. The testing company will process your information and with respond with approval or rejection, if the form was completed incorrectly or with disqualifying information. If approved, you will receive scheduling information.
The Ohio Division requires a fingerprint background check. For more information on this process and what it includes, please check their website for more details.
5. Pass the Ohio Real Estate Salesperson Exam
Previously, applicants were only able to take the exam on-site. However, you may now choose to take the licensing exam at either a physical testing center or online. The exam is computer-based either way and requires a degree of comfortability with computers. You will have 180 minutes to complete the test and may bring a scientific calculator with you. On the day of the exam, you will need to bring an approved form of identification, including a driver’s license, passport, or social security card.
The 120-question test is divided into two sections, each covering both state and national standards. You will have 180 minutes to complete the exam, 120 minutes to complete the federal portion’s 80 questions, and 60 minutes to complete the state portion’s 40 questions. See the PSI candidate information bulletin on their website for further details.
Final Thoughts
The real estate licensing exam is the gateway to your dream career. The time and effort you put into this profession earns you great rewards. Truly, the sky’s the limit in this field. No one can stop you from becoming a real estate agent. Start the path to your new job today.
