CareerTrack

Career Track

Getting Into the Real Estate Business

1. Take the Basic License Course. 45-hours. ( Note: hour requirement increases to 90 hours on November 1, 2006.) Pass license exam in Oklahoma City at the OREC. Exam cost $60.

2. Get a sponsoring broker to work for. Pay for your 1-year Provision license: $75. This gives you one year or less* to practice real estate.

(*You may have only 11 months, if your license is issued at the end of a month! You are considered licensed the entire month your license is issued, even if it is issued on the last day of the month.)

3. Within your 1-year license period go to the Post License course. 45-hours ( Note: this hour requirement does not increase on November 1, 2006.). Get certificate from school that you completed the course. At the end of your 1-year license period, send the certificate along with the fee for a full 3-year associate license. Cost for 3-year license: $165. You become a full associate with a renewal license.

4. Within the next 3 years, attend 21 hours of Continuing Education of which 12 hours must be in Core Courses, the remaining 9 hours may be in electives. This allows you to renew your license on active status. Without meeting the Continuing Education Requirement, you can renew your license but you will be put on inactive status and will not be able to practice real estate. The fee to renew your license as inactive is: $110. The fee to renew it as an active licensee is $165.

5. If you want to run your own company or be a branch office manager for another broker, then you must become a broker. A broker must have 2 years active experience within the last 5 years. And must complete a 75-hour Broker’s course.( Note: hour requirement increases to 90 hours on November 1, 2006.) The fee to take the brokers exam is: $75. A three-year broker’s license cost: $225 for active status and $140 for inactive status.

6. If you are a US citizen and have been a broker for 5 years, you may be eligible to become a real estate commissioner. You will need to be appointed by the Governor and confirmed by the State Senate. Good Luck.

Vince Mooney Real Estate School & Seminars