How to get your Real Estate License.
Getting your real estate license!
Learn how to get your real estate license and be Realtor. When you are a Real Estate Agent you are an independent contractor working under a Broker. You can complete your classes before you choose a Broker. However, you will need to choose one before you apply for your license. Below is a step by step guide which goes over the process of getting your Real Estate license in the State of Ohio.
VP Realty offers training and mentorship through VP School. Learn more about training and monthly study sessions.
Need help getting started? Schedule a 15 minute phone call/Zoom interview today!
- You can do your classes online or in the classroom. The classroom provides a more structured environment where online offers more flexibility. Choose depending on what fits your lifestyle.
- There are a required 120 credit hours. It is split into four classes. The first is a general class on the practice of real estate. The other classes focus on law, appraisal, and finance.
- 40 hours Real Estate Principles and Practices
- 40 hours Real Estate Law Course
- 20 hours Real Estate Appraisal Course
- 20 hours Real Estate Finance Course
- Class cost is cheaper if you pay for all four at once.
- Davis Real Estate offers all four for $999
- Hondros all four for $1599
Submitting your Application:
- Once you have completed your 120 hours of coursework, you will need to choose a broker and submit an application to the Division of Real Estate.
- A broker supervises your transactions and trains you in the field. Choose a brokerage you think will be a good fit. Look at what types of agents work there and what motivation level they promote. Ask about monthly fees and their training program when making your decision.
- After you have selected a broker, print out the application for your license from the Division of Real Estate, complete it and mail it in.
- The application will include your brokers signature, proof of completion of your completed classes, and a check for $81.
- You must get fingerprinted within 10 days of filing the application. (There are several local places that offer this such as the police station)
Taking the Test:
- After your application is approved you will receive an email that you can schedule to take the Real Estate exam.
- There are exam locations in Akron and Cleveland.
- You can typically schedule as soon as the next day.
- Take this time to study. VP Realty has an exclusive study program available.
- The test cost is $61. It consists of a national test (80 questions) and a state test (40 questions). You must get a 70% or higher on both portions to pass.
- If you fail, you will have to reapply and pay a new set of fees so make sure you are ready!
- You will see the results of the exam as soon as you have completed it. The testing facility will send the results to the Division of Real Estate and your license will become active within a few days.
After the Test:
- Your broker will now train you in the field. VP Realty has a special training program, VP University, to complete when you get started.
- You will learn the MLS (Multiple listing system) system, how to meet with clients, the CRM and sales, sales, sales!!!
- The cost of being an agent is roughly $1,100 a year. You are paying to belong to the MLS and the board of local Realtors. Fortunately, one transaction should more than pay your dues. VP Realty also has incentives once you make so much, VP will cover your dues.
- You will get paid through commission and a 1099 form.
- How much you make will be based on how hard you work and what you put into it!