Oregon Real Estate License Requirements

The Oregon Real Estate Agency oversees all real estate matters in the state of Oregon. The agency operates on a broker-only licensing system. The types of real estate licenses the agency currently issues are broker and principal broker licenses.

The requirements to become a real estate agent [broker] or principal broker in Oregon are as follows:

Broker License Requirements:

To be eligible for an Oregon broker license, applicant must be at least 18 years old and be a U.S. citizen or alien authorized to work in the United States.

Applicant must submit fingerprints for a criminal background check.

No prior real estate experience is required to obtain an Oregon broker license.

Applicant must have a high school diploma or GED and complete 150 hours of prelicense broker education, which includes:
A 30 hour course in Real Estate Law
A 30 hour course in Real Estate Finance
A 30 hour course in Oregon Real Estate Practices
A 15 hour course in Contracts
A 15 hour course in Agency
A 20 hour course in Real Estate Brokerage
A 10 hour course in Property Management

Oregon Real Estate License Requirements

Oregon Real Estate License Requirements

After completing the prelicense education requirements, applicant must pass the state and national real estate broker exam with a minimum score of 75%.

An Oregon broker license application must be submitted within one year of passing the exam along with proof of sponsorship by a licensed broker in Oregon.

All new broker licensees must complete a minimum of 30 clock hours of continuing education before he or she can renew the license. Three of these hours must include the Law and Rule Required Course and the remaining 27 must include the Broker Advanced Practices course.

After the first renewal period, all licensees must complete a minimum of 30 clock hours of continuing education during each license renewal period. Three hours must be the Law and Rule Required Course. The remaining 27 hours must be completed from Certified Continuing Education Providers in the required course topics.

Oregon has a reciprocity agreement with the following states and jurisdictions:
Alabama
Alberta, Canada
Georgia
Nebraska
South Dakota

Fees to obtain an Oregon broker license include:
Exam Fee: $75
Fingerprint Processing Fee: $59.50
Broker License Application Fee: $230


Principal Broker License Requirements:

To be eligible for an Oregon principal broker license, an applicant must be at least 18 years old and be a U.S. citizen or alien authorized to work in the United States.

Applicant must submit fingerprints for a criminal background check.

At least three years of active real estate experience is required to obtain an Oregon principal broker license.

Applicant must have a high school diploma or GED, complete a 150 hour broker prelicense course and complete the 40 hour Broker Administration and Sales Supervision course.

After completing the prelicense education requirements, applicant must pass the principal broker license exam with a minimum score of 75%.

An application for a principal broker license must be submitted within one year of passing the exam.

All principal broker licensees must complete a minimum of 30 clock hours of continuing education during each license renewal period. Three hours must be the Law and Rule Required Course. The remaining 27 hours must be completed from Certified Continuing Education Providers in the required course topics.

Oregon has a reciprocity agreement with the following states and jurisdictions:
Alabama
Alberta, Canada
Georgia
Nebraska
South Dakota

Fees to obtain an Oregon principal broker license include:
Exam Fee: $75
Fingerprint Processing Fee: $59.50
Principal Broker License Application Fee: $230


References:

State of Oregon Real Estate Agency FAQ: http://faqs.rea.state.or.us/absolutefm/afmmain.aspx?topicid=&

Oregon Real Estate Agency: Real Estate Broker, Principal Broker and Property Manager Examination Candidate Information Bulletin: April 1 2014: https://candidate.psiexams.com/bulletin/display_bulletin.jsp?ro=yes&actionname=83&bulletinid=380&bulletinurl=.pdf

State of Oregon: Principal Broker License Requirements: http://www.oregon.gov/rea/LIC/Pages/Principal_Broker_License_Requirements.aspx

State of Oregon: Broker License Requirements: http://www.oregon.gov/rea/LIC/Pages/Broker_License_Requirements.aspx

State of Oregon: Real Estate Agency http://www.oregon.gov/REA/Pages/index.aspx


Leave a Reply

Your email address will not be published. Required fields are marked *