Upgrading to Ohio’s real estate broker means getting more opportunities and earning more. Here are the steps to follow to achieve the license.
Before you start the process of acquiring the license, you will need to:
• Be 18 years of age and above
• You must have portrayed the good character
• You must have worked in Ohio real estate for five years and have acquired a license as a salesperson for two years.
• You must have completed 20 real estate transactions to verify your experience.
You will be required to attach a log of your transactions to your broker license application.
Steps to getting your Ohio broker license
1. Meet the required Ohio real estate education conditions
In this, the time of commitment is one month, and costs vary.
To achieve this license, you must show that you have completed your 120-hour pre-licensing coursework. This coursework consists of four must-do courses.
These are:
• Ohio real estate law (40 hours)
• Ohio real estate principles and practices (40 hours)
• Real estate appraisal (20 hours)
• Real estate finance (20 hours)
You will require a post-secondary education of not less than two years or cover the same time in an accredited university or college.
You will be required to complete four college-level courses and show proof. The courses will be in the following areas:
• Human resource management
• Financial management
• Applied business economics
• Business law
2. Passing a background check
This costs $50-$80 and takes two weeks.
To be allowed to sit for the Ohio broker exams, you are required to finish a background check on fingerprints. Webcheck® does the fingerprint check for expected brokers.
You will require a state and national FBI background check. When going for this check, carry your government-issued photo ID. You will then need to send the reason code to the web check and FBI and then ask them to forward your results to the Ohio division of real estate and professional licensing.
3. Apply for an Ohio real estate broker license
This application will cost $135, a time commitment of 1-10 days.
You will apply for the Ohio real estate broker license exam and for the license altogether. After your application has been approved, it will be sent to PSI testing, which controls and manages the broker license exam. After that, an email will be sent to you from the PSI testing with directions on how you will plan for your exam.
This application takes less than an hour unless your post-secondary transcripts are delayed. It can be filled out online or by hand and then emailed to the Ohio division of real estate and licensing.
Confirm that these three things are included
• The completed application and the fee charged
• Transcripts of courses completed
• A statement stating any real estate experience besides sales and leasing
4. Sit for the exam
This takes 3 hours, costs of$48, contains 120 multiple questions, and the passing grade is 75%.
You are required to bring two copies of your ID with you.
