Obtaining an Oklahoma Real Estate License
Oklahoma offers real estate brokers many opportunities and options; with the combination of both rural and urban areas, Oklahoma real estate associates have a variety of areas for potential profits. Licensing requirements in Oklahoma are fairly straightforward and simple, making it easy for anyone to join the real estate business.
Oklahoma law requires anyone selling or renting property to have a license. The Oklahoma Real Estate Commission issues the following three license types:
Ã?· Provisional Sales Associate (PSA) – An entry-level associate whom is directly under the supervision of a real estate broker. PSA’s may not enter into any contractual agreements under their own name. Applicants must be of good moral standard, 18 or older, and successfully complete Part I of a 45-hr real estate course. Once the state exam is passed and a PSA license is obtained, there is a Part II post-licensing requirement within a year. Once this is completed, the licensee will be issued a Sales Associate license. Cost for this license is $75, in addition to the education courses.
Ã?· Sales Associate (SA) – Sales Associate licenses are virtually the same as a PSA license; SA applicants must also be 18, of good moral character, and have completed the entire 45-hr real estate instruction. Sales Associates also have to be under the direct supervision of a broker, and may not enter into any contractual agreements on their own. In addition, SA’s must complete a 21-hr continuing education. The license, however, is good for three years rather than one. A Sales Associate license is $165.
Ã?· Broker- Brokers are allowed to operate their own firm (or work within an established office), and to sponsor PSA’s and SA’s. Broker applicants must be of good moral character, have two years of active real estate experience within the past five years, and have completed a 75-hr. advanced real estate education course. The Oklahoma Real Estate Commission may waive the experience requirement, but will not do the same for the education requirements. Once the state exam is passed, a broker can then apply to be a broker associate, proprietor broker, managing broker, or as a broker partner.
The education requirements can be completed at any private school, vo-tech, or college/university. Only after successful completion of the course(s) may the real estate applicant take the state examination in order to become certified. All Oklahoma private schools and vo-techs that offer the courses will provide the test for their students. The Oklahoma Real Estate Commission should be contacted for others (contact info below).
Of course, all education that is considered a post-licensing requirement need not be completed before undertaking the state examination. These hours must be completed only after the license has been granted. All applicants should ensure their coursework is approved by the Commission, especially any specialty courses (property management, appraisal, etc.).
Once Oklahoma real estate licensee’s advance beyond PSA, continuing education courses are required in order keep a license active. All SA’s and brokers must complete 21-hrs. every three years. Commission rules regulate what classes must be taken. Currently they consist of four core areas: Fair Housing, Broker Relationship Act, Professional Conduct, and a Hot Topic (variety of issues dependent upon relevancy).
Anyone wishing to obtain an Oklahoma real estate license should contact the Oklahoma Real Estate Commission. Their Website, http://www.orec.state.ok.us, includes downloadable forms, additional information on the types of brokerage licenses available, testing sites and dates, and more.
