How to become a real estate agent in Oregon
The process of receiving a real estate agent license in Oregon is a prospective idea for people who want to be engaged in the real estate industry and gain high results in it as professionals (i.e. as a real estate broker or even while selling homes to international investors or providing wholesale deals as a property manager). The market’s stable position along with quite high rates for local salespersons makes the question “how to get a real estate license in Oregon” asked frequently.
So, we managed to create this step-by-step guide for those who are truly interested in a realtor license in Oregon. Of course, we took into account local practices which differentiate the process of a broker license obtaining in OR from similar processes in Virginia, South Dakota, Texas, Illinois and other parts of the country.
First, let’s consider what is so special in the whole real estate industry of Oregon and its main products in detail.
So, you can see that the information about how to obtain a real estate license in Oregon can be significant for you if you are an ambitious, communicative, self-educating person who loves to help other people and wants to get a good salary for this as an agent or a broker.
Yet, getting a broker license in Oregon still is connected to maintaining special conditions provided by the local government. The good news is these requirements are not as complex as in Texas or Georgia, but knowing about them is a must. So, let’s read our blog article’s content to get acquainted with them.
6 Steps to Getting a real estate license in OR
The development from a simple person to a real estate broker is related to a couple of steps to take. In this blog, we provided a thorough inspection and divided all the content into portions which describe these steps towards a comprehensive learning of each of them for an applicant.
1. State of Oregon real estate license requirements
The first step is meeting state requirements. These are not too whimsy. You need to be:
Besides, it is a benefit if you attach your high school or GED diploma or equivalent certificates which prove your current educational program level and its development.
2. Register for an account in eLicense and pay the nonrefundable application fee
While in lots of states including Colorado, Connecticut, New York, and Florida you need to apply for your real estate licensing to a certain authority, Oregon offers a more convenient option based on advanced technology in the form of an online platform called eLicense. A candidate needs to register on this platform to get access to the licensing application. Yet, once you create your login and password for this website, you’ll use it further for multiple goals including license renewal, license status check, and so on. One more tip: on eLicense, your user’s ID is your license number.
3. Complete 150 hours of required pre-licensing education
A required pre-licensing education is a must for future real estate agents. You have to learn lots of specific professional things and terms about mortgage and finance, home maintenance and laws. All this is available for applicants in a couple of prep types.
The choice of completing the pre-licensing schools in Oregon is considerable. You need to provide a chosen training center with your eLicense ID to start classes. As for the prep costs of your required real estate education, on average, pre-licensing courses cost $350-$500. Their pricing depends on the different form of studies and the reputation of their provider mostly.
As for post-licensing education, you should understand that your real estate agent’s career is an endless route to self-perfection and development, and you need to complete your continuing education prep courses at least 30 hours per two years since starting your work. Fortunately, most real estate training centers offer CE options too so you have rights to launch them.
4. Pass the Oregon real estate examination
Right when you complete your courses, you’ll have to pass a final exam. It’s a typical professional requirement for most US states. Real estate agents have to pass an exam in Virginia, North and South Carolina, Illinois, Alabama, etc. Of course, the difficulty levels for final exams vary from state to state. But the essence of the exam remains the same.
You shall do it either personally or under the proctoring of online supervisor.
How hard is the Oregon real estate exam?
This test is quite difficult to select the most aspiring real estate agents among candidates, yet, it is not mission impossible to pass the exam successfully and undergo its digital systems.
How many questions are on the Oregon permit test?
There are 130 exam questions divided into National (80) and State exam sections (50). These exam questions cover the topics of law, contracts, realtor’s ethics, state-specific laws, finance, construction development and mortgage.
What score do you need to pass the OR real estate exam?
The score for passing the exam for a student is 75%, thus, you have to give the right answers to 60 national exam tasks and 38 to the state.
What happens if you fail the real estate exam in Oregon?
Nothing. You simply launch additional resources and prepare more thoroughly for the exam and take another try. The number of exam tries is unlimited, although you should pay the exam fee for each of them.
5. Submit fingerprints and pass a criminal background check
Unlike areas where you have to apply for your background check and fingerprinting separately in your police department and fingerprinting service providers, in Oregon, it’s an easy task.
- Your background inspection starts right after you place an application on the eLicense system and verify your person, or you should request for it in the local investigation bureau.
- Fingerprints are taken and processed at PSI when you undergo your exam, Just consider that you have to pay a fee for the last of these options.
6. Find a brokerage firm or a sponsoring broker
A brokerage company or an independent principal broker is a must for a novice real estate agent or associate in most states of America. For example, this common requirement for a professional broker sponsorship works in Nebraska, Montana, New Hampshire, Georgia, Rhode Island, and Massachusetts. So it works similarly in Oregon. Besides being hired by a licensed broker, candidates receive additional benefits from being sponsored. They rely on their brokers or a home agency when it comes to continuing education and professional skill upgrades, they can get help and support on their way and build strong and consistent careers.
You need to contact a broker or an agency to make your license active. In Oregon, we offer you to select among the top firms and brokers we’ve listed below.
- Brokerage House Realtors;
- Keller Williams Realty;
- Raymond Search Group.
According to the Indeed review, these brokerage companies are the best for new applicants. Once you get approval from the broker or an agency you contact, you can be sure that your license is activated. Brokers add it to their business and this procedure activates the license of an agent.
Oregon real estate license renewal
Oregon real estate license is valid for 2 years since it was issued. It’s a must to renew it timely. Please, note that unlike Florida, Mississippi, Georgia and Washington, the date of expiration for your real estate license is assigned to the last day of your birthday month. This can make the active period of your license shorter the first time since it was approved.
You can apply for the renewal of your license to the eLicense portal. If you renew it for the first time, please ensure that you are registered in advance.
Do not delay your renewal because it is quite costly to miss the timeline.
Besides registration, application, and payments, you also should meet the CE requirements. It’s a must for a real estate broker in Oregon to complete a 30-hour continuing education course which includes obligatory packages of Law and Rule classes. Additional elective courses for your CE except these three hours can be selected from the list of eligible CE course topics provided by OREA. Fortunately, you do not have to pass the exam after you complete the course.
How much does it cost to get a real estate license in Oregon State?
The information about costs is dramatically important for a real estate license candidate. So, we collected the necessary data about education, testing, licensing costs and fees in Oregon to share with you.
| Cost item | Price |
|---|---|
| Pre-licensing education course | From $359 to $499 and higher |
| Examination fee | $75 |
| License application fee | $300 |
| Fingerprinting/background check | $61.25 |
Additionally you can take an E&O insurance policy which is not mandatory but we advise you not to skip this option to get covering for your possible mistakes or career failures. The policy may cost you something like $395 annually.
Oregon real estate license reciprocity
As people tend to relocate, the information about license reciprocity in the realty business can come in handy for real estate agents moving to Oregon. Which of your home states allow free reciprocal agreements with Oregon and which do not? Let’s learn about it.
| State | Reciprocal agreement |
|---|---|
| Alabama | + |
| Alaska | – |
| Arizona | – |
| Arkansas | – |
| California | – |
| Colorado | – |
| Connecticut | – |
| Delaware | – |
| Florida | – |
| Georgia | + |
| Hawaii | – |
| Idaho | – |
| Illinois | – |
| Indiana | – |
| Iowa | – |
| Kansas | – |
| Kentucky | – |
| Louisiana | – |
| Maine | – |
| Maryland | – |
| Massachusetts | – |
| Michigan | – |
| Minnesota | – |
| Mississippi | – |
| Missouri | – |
| Montana | – |
| Nebraska | + |
| Nevada | – |
| New Hampshire | – |
| New Jersey | – |
| New Mexico | – |
| New York | – |
| North Carolina | – |
| North Dakota | – |
| Ohio | – |
| Oklahoma | – |
| Pennsylvania | – |
| Rhode Island | – |
| South Carolina | – |
| South Dakota | + |
| Tennessee | – |
| Texas | – |
| Utah | – |
| Vermont | – |
| Virginia | – |
| Washington | – |
| West Virginia | – |
| Wisconsin | – |
| Wyoming | – |
Besides, Oregon provides full reciprocity of licenses of out-of-state real estate agents from Alberta, Canada. So no exam is required for people relocating from their home state.
Oregon Real Estate Agency (OREA)
The State of Oregon Real Estate Agency also known as OREA is the department in the state government which is responsible for the following cases and activities:
- Providing quality protection for real estate customers;
- Licensing and industry regulation;
- Examination and education for real estate salespersons including agents, brokers, principal brokers, property managers, and escrow agents;
- Complaints processing and overview;
- Monitoring of the real estate market in Oregon.
You can contact the institution personally by visiting its headquarters at Equitable Center 530 Center St NE STE 100, Salem, OR, by phone call to +1 503-378-4170, or via email at orea.info@rea.oregon.gov.
If you are looking for an excerpt of how to become a real estate agent in Oregon, we offer you to check this questions and answers section bellow to get the information crystallized in short form.
Becoming a real estate agent OR: FAQs
Can I get my Oregon real estate license online?
Yes, you can do it fully online except by passing an exam and fingerprinting. The exam is taken in person. Your real estate license becomes active remotely since the broker sponsoring you adds it to their business. So feel free to start your practice.
How long does it take to become a real estate agent in Oregon?
Typically, it requires 156 hours to pass all the stages. Consider your required education courses time, exam timelines, and time for application form filling and background check/fingerprinting. Yet, if talking honestly, you shall count from a couple of weeks to 4+ months depending on your studying schedule and success with the examination.
How much money can I make as an OR real estate agent?
In Oregon, the average income of a real estate agent or broker is $96,606 per year. Yet, the numbers may vary depending on your operation district and the levels of your real estate expertise. Thus, the dispersion can be as follows:
– Agents with 1-2 years of experience earn app. $87,095 annually.
– Agents with 2-10 years of work get from $96,606.
– Agents with the expertise of 10+ years make over $114,275.
Can a felony be a real estate agent in Oregon?
In general, Oregon state authorities don’t indicate a comprehensive list of crimes which can disqualify you from a real estate agent’s career. Yet, you should provide the licensee with your criminal background record to check it before issuing your license. The inspection may show whether your career in the RE can be started.
Resources:
- An official website of the State of Oregon. “Broker Licensing”, https://www.oregon.gov/rea/licensing/get-license/pages/broker.aspx
- Iron Data Solutions. “Oregon Real Estate Agency eLicense”, https://orea.elicense.irondata.com/
