06 Jul Your Complete Guide to Getting a Real Estate License in Oklahoma
Are you looking to start a career as a real estate agent in Oklahoma? If so, you’ll need to obtain a real estate license to legally practice in the state. This article will guide you through the steps necessary to get your real estate license in Oklahoma, making it as straightforward as possible. From understanding the prerequisites to the licensing process itself, we’ve got you covered.
Prerequisites for Obtaining a Real Estate License in Oklahoma
Before you can apply for a real estate license in Oklahoma, you must meet the following prerequisites:
- Be at least 18 years of age.
- Have a high school diploma or GED equivalent.
- Be a US citizen or legal resident with valid proof of residency.
Complete the Pre-Licensing Education
To get your real estate license in Oklahoma, you must complete a state-approved pre-licensing education course. (This school is AWESOME if you need a cheap and fast option.) This course consists of 90 hours of instruction, which covers topics such as:
- Oklahoma real estate law
- Real estate contracts and agreements
- Property management
- Financing and appraisals
- Ethics and professional responsibilities
You can choose to take the course in-person or online, depending on your schedule and learning preferences. After you’ve successfully completed the course, you’ll receive a certificate of completion, which you’ll need to submit during your license application process.
Pass the Oklahoma Real Estate Salesperson Exam
After completing the pre-licensing course, you must pass the Oklahoma Real Estate Salesperson Exam. This exam is administered by PSI, a testing company, and is divided into two sections: the national portion and the state-specific portion. The national section has 80 multiple-choice questions, while the state-specific section has 50 multiple-choice questions. You must score at least 70% on each section to pass the exam.
To prepare for the exam, consider using exam prep materials and taking practice tests. You can also enroll in a real estate exam prep course to improve your chances of success. It’s essential to be familiar with the testing format and rules, as well as the topics covered on the exam.
Submit Your License Application
Once you have passed the Oklahoma Real Estate Salesperson Exam, you have 36 months to submit your real estate license application. You can do this online through the Oklahoma Real Estate Commission (OREC) website. Be sure to have the following documents and information handy:
- Certificate of completion from your pre-licensing course.
- Proof of passing the Oklahoma Real Estate Salesperson Exam.
- Proof of citizenship or legal residency.
- Your Social Security number.
- The application fee (typically around $200).
Complete a Background Check and Fingerprinting
As part of the real estate license application process, you’ll be required to undergo a background check and fingerprinting. This step ensures that you meet the state’s requirements for good moral character and trustworthiness. You can find information on fingerprinting locations and fees through the OREC website. Once your background check has been successfully completed, the OREC will notify you.
Obtain Errors and Omissions (E&O) Insurance
Oklahoma requires all real estate licensees to carry Errors and Omissions (E&O) insurance. This insurance protects you from any potential financial loss due to errors, omissions, or negligence in your real estate transactions. You can purchase E&O insurance from an approved provider and will need to provide proof of coverage when you submit your license application.
Find a Sponsoring Broker
Finally, before you can practice as a real estate agent in Oklahoma, you must find a licensed, sponsoring broker to work under. This broker will provide mentorship, support, and guidance as you begin your career. We can help you find a great one who hires new agents. Contact us and we’ll hook you up.