How to Get Your Ohio Real Estate License
Starting your real estate career in Ohio might seem challenging, but it’s a straightforward and achievable process with the right guidance. This comprehensive guide will walk you through each essential step, ensuring you’re fully equipped to embark on your real estate career in Ohio. Let’s start your journey to becoming a licensed real estate agent in the Buckeye State.
We'll walk you through 6 easy steps
Understand the Basic Requirements
Before diving into the specifics, it’s essential to understand the basic requirements for obtaining a real estate license in Ohio. These are the key criteria you need to meet:
Age Requirement
To apply for a real estate license in Ohio, applicants must be at least 18 years old. This age requirement ensures that candidates have the necessary maturity and legal responsibility to enter the profession.
Residency and Identification
You do not need to be an Ohio resident to apply for a real estate license, but you must provide a valid Social Security number. This requirement is crucial for conducting background checks and adhering to state regulations. Non-residents must meet the same standards as Ohio residents.
Honesty and Integrity
Integrity is vital in the real estate industry. The Ohio Division of Real Estate and Professional Licensing will perform a thorough background check. Any criminal convictions could result in the denial of your license. Being upfront about any past legal issues and providing evidence of rehabilitation can support your application.
Step 1: Take a Real Estate Pre-Licensing Course
In Ohio, you are required to complete 120 hours of pre-licensing education. This course covers essential topics, including real estate principles, practices, and Ohio-specific laws, to thoroughly prepare you for the licensing exam and your future career.
Course Breakdown (120 hours)
The Ohio pre-licensing course includes in-depth instruction on various critical areas of real estate. This includes a focus on civil rights laws, real estate finance, agency laws, and property transactions, providing you with the comprehensive knowledge needed for success in the profession.
Real Estate Principles and Practices - 40 Hours
This section provides a comprehensive overview of the foundational principles and practices essential to real estate. It covers topics such as property rights, land use, real estate contracts, and the responsibilities of a real estate agent. The aim is to equip you with the necessary skills and knowledge to succeed in Ohio’s real estate market.
Ohio Real Estate Law, Including Civil Rights and Housing Discrimination - 40 Hours
In this segment, you’ll dive deep into Ohio-specific real estate laws, with an emphasis on civil rights, housing discrimination, and desegregation issues. The course covers key federal legislation like the Fair Housing Act and Equal Credit Opportunity Act, along with Ohio’s Civil Rights Act, ensuring you are well-versed in both federal and state regulations.
Real Estate Appraisal - 20 Hours
This section focuses on the principles and methods of real estate appraisal. You’ll learn how to assess property values, understand market influences, and apply appraisal techniques. This knowledge is crucial for determining the value of residential and commercial properties in Ohio.
Real Estate Finance - 20 Hours
This category covers the fundamentals of real estate finance, including mortgage types, loan processes, interest rates, and financial instruments used in real estate transactions. Understanding these financial aspects is key to helping clients navigate their buying or selling processes.
Choosing the Right Real Estate School
Selecting the right real estate school is crucial. Look for accredited schools that offer flexibility, especially if you have a busy schedule. Online courses can provide the convenience of studying at your own pace.
Research and Reviews:
Start by researching various real estate schools and reading reviews from past students. Look for schools with high pass rates for the real estate exam and positive feedback on their teaching methods.
Online vs. In-Person:
Decide whether you prefer online or in-person classes. Online courses offer flexibility and convenience, allowing you to study at your own pace. In-person classes provide direct interaction with instructors and peers, which can enhance your learning experience.
Course Materials and Support:
Evaluate the course materials and support services provided by the school. High-quality textbooks, interactive lessons, and access to instructors for questions can significantly impact your success. Some schools also offer additional resources like exam prep courses and study groups.
Study Tips
Daily Study Schedule:
Create a daily study schedule that covers all exam topics, ensuring regular review sessions. (Asana provides a great FREE task manager)
Flashcards:
Utilize flashcards for key terms and concepts to enhance memorization. (These Quizlet Flashcards may be helpful)
Practice Tests:
Regularly take practice tests to gauge your understanding and get familiar with the exam format. (Free Ohio Real Estate Practice Exam)
Step 2: Submit Your Ohio Real Estate License Application
After completing your pre-licensing coursework, the next step is to submit your license application to the Ohio Division of Real Estate and Professional Licensing (REPL).
Steps to Submit Your Application
Complete the Application Form: Fill out the online application form available on the Ohio Division of Real Estate and Professional Licensing website.
Gather Required Documents: Prepare proof of completed pre-licensing education, identification documents, and any additional paperwork needed for submission.
Submit Your Application: Submit your application and all required documents online through the Ohio Division of Real Estate and Professional Licensing’s online portal.
Pay the Application Fee: Be sure to pay the required application fee of $81 through the online portal when you submit your application.
Application Processing Time
The Ohio Division of Real Estate and Professional Licensing will take several weeks to process your application. During this period, they will review your educational transcripts and verify that you meet all necessary requirements. Double-check your application for accuracy to avoid delays.
Tracking Your Application
You can monitor the status of your application online through the Ohio Division of Real Estate and Professional Licensing’s website. Regularly checking your status helps you stay updated on any potential issues or additional requirements. If delays occur, contacting the Division directly can help clarify and expedite the process.
Step 3: Pass the Ohio Real Estate Exam
The Ohio Real Estate Exam is a comprehensive test that lasts 3 hours and consists of 120 multiple-choice questions. To pass, you need to achieve a score of at least 70%. If you do not pass on your first attempt, you will need to submit a new application and pay the exam fee of $61 for each attempt.
Salesperson Examination Content
Property Ownership and Transfer
- Ownership Rights
- Title Transfers
- Real Estate Contracts
- Leasing & Management
- Real Estate Practices
- Property Disclosures
Legal and Regulatory Framework
- Land Use & Zoning
- State Real Estate Oversight
- Licensing Rules
- Ohio Commission Regulations
- Brokerage & Agency
Valuation, Finance, and Calculations
- Property Valuation
- Real Estate Financing
- Transaction Calculations
Preparation Tips
Review Course Materials:
Go over the textbooks and notes from your pre-license courses. Revisiting these materials can reinforce your understanding of key concepts. Focus on areas where you feel less confident to ensure a well-rounded preparation.
Practice Exams:
Take as many practice exams as possible. This helps you get familiar with the exam format and identify areas where you need more study. Practice exams can also help you manage your time effectively during the actual test. (Free Ohio Real Estate Practice Exam)
Study Groups:
Join or form study groups. Discussing topics with peers can enhance understanding and retention. Study groups provide a platform to share knowledge, ask questions, and support each other.
Exam Prep Courses:
Consider enrolling in an exam prep course for additional support and structured study. These courses often include practice exams, study guides, and expert instruction. Investing in a prep course can increase your chances of passing the exam on the first attempt.
Exam Day Tips
Arrive Early:
Ensure you arrive at the exam center early to avoid any last-minute stress. Arriving early gives you time to settle in and focus before the exam begins. Check the location and travel time in advance to plan your journey.
Bring Required Identification:
You’ll need a valid photo ID to enter the exam. Make sure your ID is current and matches the name on your application. Having all necessary documents ready can prevent any issues at the exam center.
Stay Calm and Focused:
Read each question carefully and manage your time wisely. Staying calm and composed can help you think clearly and avoid mistakes. Take deep breaths and stay positive throughout the exam.
Exam Room Etiquette:
Follow all instructions given by the exam proctors. Adhering to the rules ensures a smooth and fair testing experience for everyone. If you have any questions or issues, ask the proctors for assistance.
Step 4: Complete the Fingerprinting Requirement
After passing the exam, you must complete the fingerprinting requirement as part of your background check. This step is crucial to verify that you meet the honesty and integrity standards set by the Ohio Division of Real Estate and Professional Licensing.
How to Get Fingerprinted
Locate a Live Scan service provider approved by the Ohio Bureau of Criminal Investigation (BCI). Live Scan is a secure and efficient electronic fingerprinting process. Schedule an appointment with a nearby provider (Costs typically range from $30 to $60).
Fill out and submit the necessary forms along with the fingerprinting fee. The Live Scan service provider will electronically transmit your fingerprints to the BCI. Be sure to keep a copy of the form and your payment receipt for your records.
The fingerprinting fee varies depending on the provider. This fee generally includes both the Live Scan service and the background check. Confirm the total cost when scheduling your appointment.
The Ohio Division of Real Estate and Professional Licensing will conduct a background check using your fingerprints to ensure you meet the required ethical standards. Any concerns identified during this check may need to be resolved before your license can be issued.
Addressing Background Check Issues
If any issues arise during the background check, you may need to provide additional documentation or explanations. Being transparent about your past and taking responsibility can positively impact the Division’s decision. Consider seeking legal advice if any complex issues arise.
Step 5: Submit the Salesperson License Application
The next step is to submit your Salesperson License Application to confirm that you have passed the exam and completed the fingerprinting requirement.
Application Checklist
Complete Ohio Application Form:
Fill out the Salesperson License Application form available on the Ohio Division of Real Estate and Professional Licensing website. Make sure all sections are accurately completed. The form can be accessed and submitted online.
Attach Exam Results:
Include proof that you passed the Ohio real estate exam. This documentation is crucial for the Division to verify your eligibility. Keep a copy of your exam results for your personal records.
Include Fingerprinting Proof:
Attach your Live Scan Service form as proof that you have fulfilled the fingerprinting requirement. Ensure all required signatures and information are correctly provided.
Pay the License Fee:
As of 2024, the fee for the Salesperson License in Ohio is $81. This fee must be submitted along with your application. Keep a copy of your payment receipt for future reference.
After submitting your application, you can track its status online through the Ohio Division of Real Estate and Professional Licensing website. Regularly checking the status will keep you updated on any progress or additional requirements. If there are delays, contacting the Division directly can provide clarity and help expedite the process.
Step 6: Find a Real Estate Broker to Sponsor You
Once you pass the exam, you need to find a sponsoring broker to activate your license. Look for a brokerage that aligns with your goals and offers the support you need.
Considerations
Find a supportive and collaborative environment. The right culture can significantly impact your job satisfaction and success.
Understand the financial arrangements. Different brokerages offer different commission splits, so choose one that suits your financial goals.
Choose a broker who provides ample training and mentorship opportunities. Early career support is crucial for your development and success.
Questions to Ask Potential Brokers
17 Brokerage Interview Questions
- What training programs do you offer for new agents?
- How does your commission split work, and are there any additional fees?
- What kind of support and resources will I have access to?
- Can you provide references from other agents in your brokerage?
Choosing the right broker is crucial as it impacts your early career significantly. Consider top-rated brokers like eXp Realty, Keller Williams, Coldwell Banker, and Compass.
Why Join Smart Agent Alliance at eXp Realty?
When you join Smart Agent Alliance, you get double the value because you’re also automatically a Wolf Pack member. Together, Smart Agent Alliance and the Wolf Pack provide the tools, support, and expertise to elevate your business to new heights.
Smart Agent Alliance Benefits:
At Smart Agent Alliance, we prioritize organization, clarity, and efficiency to help our agents succeed. We provide essential onboarding resources, customizable presentations, business automations, client checklists, business assets, social media content, YouTube support, a growth plan, quality lead generation, production know-how, website support, and top-notch organizational tools.
Wolf Pack Benefits:
The Wolf Pack team at eXp Realty offers expert-led courses like Social Agent Academy 3.0, the Wolf Pack Hub, and the Investor Army for property flipping. We provide tailored assistance for new agents, developing agents, top producers, team leaders, and broker owners. Key resources include lead generation, production know-how, social media content, and YouTube support.
eXp Realty Benefits:
eXp Realty offers a comprehensive range of benefits for agents, focusing on top pay structures, low fees, and free stock options. Agents get an 80/20 commission splits that cap at $16,000 annually, with opportunities to earn 100% commission, receive annual stock awards and gain income through Revenue Share. Additional resources include 24/7 agent support, affordable healthcare, live training, and advanced tech tools like kvCORE and customizable IDX websites.
Financial Planning
Starting a career in real estate involves some initial costs and financial planning. Understanding these costs and planning accordingly will help you manage your finances effectively.
All stated fees are subject to change.
Starting Costs
- Initial Expenses: These include licensing fees, marketing expenses, office supplies, and technology tools needed to start your career. For example, initial expenses may include:
- Pre-Licensing Course: $900+
- Exam Fee: $58 per attempt
- Application Fee: $81
- Fingerprinting Fee: Roughly $30-60
- Marketing Materials: Business cards, signage, and online advertising costs
- When you join a brokerage in Ohio, many will require you to become a member of the National, State, and Local Associations of Realtors. Additionally, you’ll need to pay fees for the Multiple Listing Service (MLS) and Supra Key services.
- National Association of Realtors (NAR):
- Membership Fees: For 2024, the NAR annual dues are $156, plus a $45 special assessment fee for the Consumer Advertising Campaign, bringing the total to $201 per year.
- Ohio Realtors (State Association):
- Membership Fees: The annual dues for Ohio Realtors in 2024 are approximately $150. This fee is in addition to the NAR dues.
- Local Association of Realtors:
- Membership Fees: Local association fees in Ohio vary depending on the specific association. For example:
- Columbus Realtors: The annual dues are typically around $300 to $400.
- Cleveland Area Board of Realtors (CABOR): The fees generally range from $200 to $300 per year.
- Membership Fees: Local association fees in Ohio vary depending on the specific association. For example:
- Multiple Listing Service (MLS):
- Fees: MLS fees in Ohio also vary depending on the region. For example:
- Columbus MLS (Columbus and Central Ohio Regional MLS): Fees are approximately $480 annually.
- NORMLS (Northeast Ohio Real Estate Exchange): The fees typically range from $400 to $500 annually.
- Fees: MLS fees in Ohio also vary depending on the region. For example:
- Supra Key Fees:
- Fees: Supra Key services in Ohio typically include an initial setup fee of about $50 and a monthly service fee ranging from $20 to $25.
- National Association of Realtors (NAR):
These fees are approximate and can vary slightly depending on your exact location and the specific associations or MLS you join. It’s always advisable to verify with your local associations or MLS for the most accurate and up-to-date information.
Budgeting Tips
- Create a Budget: Track your expenses and forecast your income. Plan for slower months to ensure financial stability.
- Emergency Fund: Set aside an emergency fund to cover unexpected expenses or slow periods in the market
Income Management
- Commission Structure: Real estate agents typically earn commissions from sales. Understand how your brokerage’s commission structure works and how to manage irregular income streams. Commission splits can vary widely, typically ranging from 50/50 to 70/30 or higher, depending on the brokerage.
- Tax Planning: As an independent contractor, it’s important to plan for taxes. Keep track of deductible expenses, make estimated tax payments, and maintain good record-keeping practices. Consulting with a tax professional can help ensure compliance and optimize your tax strategy.
Frequently Asked Questions
What are the requirements to get a Ohio real estate license?
- Be 18 or older with a high school diploma or equivalent.
- Complete 120 hours of pre-licensing education, covering Real Estate Principles, Ohio Law, Appraisal, and Finance.
- Pass the Ohio real estate exam with a score of 70% or higher.
- Find a sponsoring broker to activate your license.
- Submit your application and fees to the Ohio Division of Real Estate and Professional Licensing.
How much does it cost to get a real estate license in Ohio?
The cost to get a real estate license in Ohio includes:
- Pre-Licensing Course: $900 to $1,300+, depending on the provider.
- Exam Fee: $81 per attempt.
- License Application Fee: $58.
- Fingerprinting and Background Check: $60 to $80.
Total estimated cost: $1,099 to $2,220.
How long does it take to get a real estate license in Ohio?
It typically takes 3 to 6 months to get a real estate license in Michigan. This timeframe includes completing the 40-hour pre-licensing course, passing the exam, submitting fingerprints, and waiting for the Michigan Department of Licensing and Regulatory Affairs (LARA) to process your application.
What is the pass rate for the Ohio real estate exam?
The pass rate for the Michigan real estate exam varies, but generally, it is around 58-64%, depending on the source and the exam preparation provider. For example, some providers report a pass rate of 64%, while others have lower rates for different portions of the exam.
What happens if I fail the Ohio real estate exam?
If you fail the Ohio real estate exam:
- Retake the Exam: You can retake the exam. There’s no limit on the number of attempts.
- Pay the Exam Fee: Each retake costs $81.
- Focus on Weak Areas: Review your results to improve on the sections where you scored lower.
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How do I renew my Ohio real estate license?
To renew your Ohio real estate license:
- Complete Continuing Education: Finish 30 hours of approved courses every 3 years, including 9 hours of core law, ethics, and civil rights.
- Submit Renewal Application: File your renewal application online through the Ohio Division of Real Estate and Professional Licensing.
- Pay the Renewal Fee: The fee is $182.