The Indiana Real Estate Commission oversees all real estate matters in the state of Indiana. As of July 1, 2014, the commission eliminated the salesperson license category and now operates on a broker-only licensing system.
The requirements to become a real estate broker in Indiana are as follows:
BROKER LICENSE REQUIREMENTS
To be eligible for an Indiana broker license, applicants must be at least 18 years old and be a U.S. citizen or alien authorized to work in the United States.
Applicants must also have a clean criminal record and submit fingerprints for a criminal background check after the application for licensure is submitted. An email with instructions on how to submit fingerprints will be sent after the application is submitted. Applicants are asked to wait until they receive the email before they complete the criminal background check. Any criminal background check completed prior to submission of the license application will be considered invalid. Once applicants receive the email notification, he or she must go to the fingerprinting vendors website at www.identago.com and schedule an appointment for a fingerprinting session.
Completion of all prelicense education courses prior to applying for the broker license is required. The commission’s website has a list of approved real estate schools in Indiana who provide the required courses.
Broker applicants must pass the state and general broker exam with a minimum score of 75%. The general portion of the exam consists of 80 questions. The state portion consists of 50 questions. Applicants have a total of four hours to complete the exam.
After passing the broker exam, the applicant must submit a broker license application to receive the license.
All Indiana broker licensees must complete 16 hours of continuing education courses during each two year renewal period. The courses include:
Six total hours in three separate courses from the following mandatory course subjects:
Indiana licensure and escrow law
Indiana agency law
Fair housing and civil rights law
Listing contracts and purchase agreements
Ethics and Standards
Ten total hours in either mandatory or elective courses.
Indiana has real estate license reciprocity agreements with the following states:
Applicants applying by reciprocity must submit a check payable to the Indiana Professional Licensing Agency for the amount of $40.50, submit an official verification of licensure in the reciprocal state and submit a verification of licensure of any professional license held in any state, if applicable.
Fees to obtain an Indiana broker license include:
Fingerprinting Fee: $39.45
Broker License Fee: $65.50
Reciprocal License Fee (Salesperson or Broker): $40.50
Broker License Renewal Fee: $65.50
Broker License Late Renewal Fee: $115.50
Broker Reinstatement Fee: $130
Indiana Real Estate Candidate Handbook: July 2014: http://www.asisvcs.com/publications/pdf/091500.pdf
MIBOR: Pre-licensing Education FAQs: http://www.mibor.com/membereducation/pre-licensing/
Indiana Real Estate Commission: Continuing Education: http://www.in.gov/pla/3163.htm
Indiana Real Estate Commission: Criminal Background Checks: http://www.in.gov/pla/3240.htm
Indiana Real Estate Commission: Applications & Instructions: http://www.in.gov/pla/2788.htm
Indiana Real Estate Commission: Fee Schedule: http://www.in.gov/pla/files/Updated_Fee_Schedule_Effective_November_1%281%29.pdf
Indiana Real Estate Commission: http://www.in.gov/pla/real.htm