Real estate agents in Indiana are required to undergo a series of steps to obtain a real estate license. While these steps will take some to accomplish, the reward is a career that offers an abundance of freedom. Not only do real estate agents set their own hours, but they also earn money based on their experience and skills. This is truly a career path in which you set your own boundaries. This guide will walk you through the process of becoming a real estate agent in Indiana.
Meet Basic Requirements for the Indiana Real Estate License
The general real estate license requirements include that you are at least 18 years old and that the Indiana Real Estate Commission deems your criminal record to be acceptable. You must also have a high school diploma or GED. This will provide an educational foundation that prepares you for real estate education.
You must not have criminal convictions for certain actions, including those that allow the real estate commission to doubt your competence or that allows them to feel that you may endanger the public. You will undergo a background check as part of the application process, and it is important that you are honest about any prior convictions.
Complete 90 Hours of Pre-Licensing Education
Courses approved by the Indiana Real Estate Commission are typically considered to be on the same level as other college courses, but they focus on real estate. The curriculum focuses on real estate knowledge but also ensures that you have all the material necessary to pass Indiana’s real estate exam.
The coursework covers principles, practices, and laws of real estate. In your class, your will learn about everything from basic real estate math to lending practices. You will learn how to read and fill out real estate forms and contracts, and you will also learn best practices for writing real estate listings. Legal aspects of real estate also come into play here.
It is also important to note that real estate pre-licensing courses are available both in a classroom and online. Both types of courses offer their own advantages. For instance, you may find that classroom education is perfect if you are extremely busy and need to work on your own time. Classroom education, on the other hand, offers a different level of engagement that some real estate students find helpful.
Make sure to hold on to your certificate of completion for the coursework. It is required when you sign up to take the salesperson examination, which is the next step in the process.
Pass the Salesperson Examination
The Indiana salesperson exam is administered by Pearson VUE. You can register for the exam online by visiting the website or by calling. At the time you register for the exam you will be asked to pay an examination fee via debit card, credit card, or electronic check.
Many students take test prep course or read test prep books, but oftentimes the coursework and related material are enough preparation for the salesperson exam. This is a choice that you can make for yourself, and test prep is certainly not required.
Testing centers are located throughout Indiana. Make sure to arrive at your testing center about half an hour early to check in and prepare for the exam. In order to check in, you must bring two forms of ID with a valid signature and original verification of your pre-licensing education. One form of ID must include a photo and be government issued, like a state ID card or driver’s license. You will be asked to take a photo for the score report as well.
The test itself is administered on the computer, and you will have a brief period of time in which to learn how to use the computer before the exam begins. The exam includes 130 questions, and you will have four hours to answer each one. The state portion of the exam includes 50 questions, and the remaining 80 will be focused on national real estate practices and principles. The sections will be mixed together, and questions will vary in difficulty.
In order to pass the real estate exam, you must score at least 75 points. If you do not pass one section of the exam, you will have the ability to retake simply that section later on. If you do pass both portions of the exam, you will be given a real estate license application before you leave.
Work with a Real Estate Broker
As part of your first period of time spent as a real estate agent in Indiana, you must work alongside a real estate broker. The broker will offer you with an office to work in, and he or she is going to help you learn more about the real estate industry. You will gain firsthand experience working in the industry and in turn hand over a commission to the supervising broker.
Apply for a Real Estate License
When you submit your real estate license application, you must include the original certificate of completion for your pre-licensing course as well as the original score report from your Indiana real estate exam. You must also pay the application fee. You must submit the real estate license within one year of passing both portions of the real estate exam.
When the board receives your application, you should receive an email discussing steps for completing the background check. You will have your fingerprints taken by Indiana’s chosen company, Identogo. You must go to a fingerprinting center nearby in order for the prints to be valid. Make sure to bring government issued identification as well.
Becoming a real estate agent is not the end of your education. In order to renew your license or to become a real estate broker in Indiana, you must take continuing education courses. These courses are available online. Contact us for more information about real estate education available online.