Oklahoma state regulations stipulate several requirements in order to obtain a real estate license, such as taking and passing a 90-hour pre-licensing course, passing an exam, and submitting an application and fee.
Candidates for licensure must also undergo a background check with Identogo or another approved provider, with applicants who have criminal convictions potentially qualifying based on the nature of the crime committed and time since its occurrence.
Education Requirements
Prior to applying for your Oklahoma Real Estate Commission license, there are a variety of requirements you must fulfill in order to be eligible. This includes age and citizenship criteria, education prerequisites, as well as mandatory background checks and fingerprinting to confirm good moral character. Failure to satisfy these standards disqualifies applicants from proceeding further with licensing applications; additionally applicants will need to pass state-specific exams, complete 90 initial education hours and find a sponsoring broker in order to successfully gain licensure.
Your first step toward earning an Oklahoma real estate agent license should begin by enrolling in a pre-licensing course. At its completion, you will receive a Certificate of Completion which may then be submitted to the Real Estate Commission for consideration. Topics covered will include legal descriptions, transfer of ownership, valuation techniques, marketing activities, fair housing issues and financing – not forgetting an additional 45-hour Provisional Postlicense Course of Real Estate within their first year as PSAs!
Next on the agenda is taking and passing your state-specific real estate exam. For this to occur, register with Pearson as OREC’s approved examination vendor and pay an examination fee. The exam itself consists of two sections – national (80 scored questions plus five unscored pretest questions) and state specific (40 scored questions + 10 unscored pretest questions). Once passed, results will be sent immediately via email.
After successfully passing an exam, you must submit an application for licensure as a Provisional Sales Associate. Your broker must review and endorse this license application while agreeing to provide mentoring during your early career years.
At the outset of your career, having a reliable sponsoring broker is key for success. Your sponsoring broker should help guide you through industry norms and transactions as well as help secure deals and market yourself effectively. In addition to providing guidance, they should also have an attractive commission rate that allows you to increase earnings as you start off in their industry.
Exam Requirements
Becoming an Oklahoma Real Estate Commission-licensed real estate agent involves passing several stringent exams and fulfilling certain regulations outlined by them, including age and citizenship requirements as well as a mandatory background check that includes fingerprinting to assess moral character. A thorough background check helps protect both clients and public alike by assuring all agents uphold professional standards while acting in good faith when dealing with their clients.
Barnes Real Estate School’s 90-hour pre-licensing education course meets Oklahoma state regulations and provides all of the materials needed to successfully complete it online. Once they complete a course, prospective agents must then formally submit their license application through an online portal to OREC with all of the required documents, such as an education provider’s certificate. Once submitted, OREC will review it within five business days and, if approved, an email from Pearson, OREC’s authorized examination vendor, will be sent with information on how to schedule a national and state real estate exam.
Once an applicant passes their state exam, they are awarded with a Provisional Sales Associate license from the Commission. This license lasts one year and during this period he or she must affiliate with a broker; finding one with rates that align with an applicant’s needs can be crucial in their success.
Once licensed, new agents must also complete the 45-hour post-licensing course offered by the Oklahoma Real Estate Commission. This course allows newcomers to familiarize themselves with industry practices and regulations. Furthermore, Oklahoma requires that real estate agents maintain at least 60 hours of post-licensing education each year in order to comply with state requirements, which ensures all agents stay up-to-date on latest trends and developments within their real estate profession.
Fees
Real estate licensing processes entail multiple fees. The initial application fee is non-refundable; exam fees vary by license type; and there’s also an IdentoGO background check fee which varies based on license type.
After passing their state exam, aspiring agents must find a sponsoring broker. This step is vital as it will guide them through the complexities of real estate transactions while meeting industry norms. As such, it pays to do some research on various brokerages. Some may offer more competitive commission rates or be highly-regarded in certain sectors such as commercial or residential real estate.
Once an agent has partnered with a broker, they must submit an application and fingerprints for approval by OREC and pay a license fee of $100 online through OREC’s website.
The State Exam consists of 135 scored questions and 10 pre-test questions that do not count towards your score, with 75% or higher required for passing. You are also required to write three essays during this computer-based test that contains multiple choice, true/false, matching and fill in the blank questions.
When applying for a license, it is imperative to provide a valid email address so the OREC can notify you once it has your license ready to collect.
Once the license has been issued, it is valid for 36 months and subject to variation depending on license type. As with other states, its duration varies based on when and how you apply for your real estate license. Thus, it is vital to plan and budget appropriately for this process, including course costs, exam costs, licensing fees, continuing education requirements as well as budget for continuing education requirements.
Renewal
Oklahoma requires real estate agents and brokers to complete continuing education (CE) courses in order to maintain their licenses, enabling them to stay abreast of new trends and laws within the real estate industry. Furthermore, CE courses provide invaluable networking opportunities.
To meet their CE requirements, licensees should log into the OREC license portal and record their completed hours. Some real estate schools will also directly submit students’ CE completion records to OREC; it is important for licensees to ensure that these records are accurately represented within OREC.
Before practicing real estate in Oklahoma, all licensees are subject to a background check conducted by both the Federal Bureau of Investigation and Oklahoma State Bureau of Investigation. As this process can take up to 60 days, applicants should begin this step well in advance of their license expiration date.
Once a background check has been conducted, real estate agents must submit an application to OREC as well as complete and submit a 90-hour basic pre-license course and pass the real estate exam administered by Pearson Vue. This exam consists of two sections; national (80 scored questions plus five unscored pretest questions) and state specific (40 scored questions plus ten unscored pretest questions).
Licensees must agree to abide by The Real Estate License Code and any relevant statutes or rules, while real estate agents should refrain from operating under their current license while the Commission investigates or is taking actions to suspend or revoke it.
New licensees must secure a sponsoring broker to oversee their activities and ensure all legal requirements are fulfilled. A sponsoring broker should possess at least five years of experience as a real estate broker; be a legal resident of Oklahoma state or hold lawful nonimmigrant work status such as H-1B visa, TN visa or R-1 status; have good community ties and be financially solvent.