How To Become a Real Estate Agent in Ohio
Without a question, Ohio's real estate market is prospering. It's not surprising that you're researching how to become a real estate agent in Ohio given the current market conditions.
It may get quite complicated; believe us, we've been there. This is why we are here to explain it to you.
Step 1: Join students in an Ohio Pre-Licensing Real Estate School
You must complete a "pre-licensing" education course in which you learn the fundamentals of real estate, contracts, and finance. Do you dislike school? These lessons might potentially alter your perception of school. You have several alternatives! Some of them are totally online, which offers enormous benefits!
Even if you have a full-time job, you may take courses at your own speed and fit them into your schedule by taking them online. Additionally, there are just 120 total hours of instruction! That may seem like a large amount of time, but in terms of launching a new profession, it is but a speck.
But what do those 120 hours include? Examine the course outline to see for yourself:
- Real Estate Theories and Methods (40 hours)
- Ohio Real Estate Law (40 hours)
- Real Estate Appraisal (20 hours)
- Real Estate Finance (20 hours)
"That seems ominous and difficult!"
This is exactly what the courses are supposed to teach you. They will dissect any complex concepts in order to simplify them. Still terrified? You can do this, believe me. The pass percentages after attending these courses are sky-high, frequently exceeding 91%, and the assistance provided by these programs is remarkable.
Students are typically astonished by the low cost of these courses. Examine the top real estate schools in Ohio and you will see for yourself. If you're still seeking for a solution to save money, AgentAdvice has a way for you to obtain it for free.
Step 2: Submit an application to take the Ohio real estate exam
Once the division processes a full application, PSI, the testing provider, is notified. The testing provider will process the data and give you a candidate information bulletin with exam scheduling instructions.
The Ohio Division of Real Estate needs a fingerprint check, so please take notice of the following steps.
Step 3: Submit Your Fingerprints
A Webcheck® user authorized by the Bureau of Criminal Identification and Investigation (BCI&I) must take an applicant's fingerprints within 10 days of the application filing date.
Applicants should not be fingerprinted before submitting an application to the Division of Real Estate.
Step 4: Pass the Ohio real estate test.
In Ohio, the real estate license test consists of 120 questions, 80 from the national section and 40 from the state portion. The national component of the exam assesses your understanding of the following topics:
- Ownership of property
- Land use restrictions and controls
- Market research and valuation
- General Agency Financing Principles
- Disclosures about real estate
- Contracts
- Property management and leasing
- Real estate title transfer practice
- Calculations for real estate
- The state section, on the other hand, evaluates your understanding of Ohio-specific rules, especially the following:
- The real estate profession is governed by the state.
- Requirements for licensing
- Brokerage interactions
- License legislation and the guidelines of the Ohio Real Estate Commission.
To pass the test, you must correctly answer 70% of the questions within three hours - two hours for the national section and one hour for the state portion.
There are several cram courses available to assist you to brush up on your knowledge immediately before the test. You are not required to pass this on the first attempt. Keep in mind that you have a full year from the time you get your test eligibility to pass this exam. We believe you'll pass the first time since we know you're motivated.
Step 5: Find a sponsoring broker
The last step is to locate a sponsored broker. I'm sorry, but am I expected to be familiar with the term "sponsoring broker?" No, we'll spill the beans! Even if you scored well on the test, it doesn't imply you're completely prepared just yet. You need a seasoned group to help you learn the ropes while you're just getting started.
The brokers who are sponsoring you have been in your shoes and are eager to share their knowledge with you. They will not only provide you with the resources necessary to launch a successful sales career, but also assist you in promoting yourself as an agent.
You'll be able to pick a brokerage where you'll feel comfortable, where the focus is on a field you're interested in, where the company culture is something you can get behind, and where, most importantly, the commission rate is high enough to make your paycheck is XXL.
How anxious are you about locating a brokerage on your own? If you enroll in a course through AgentAdvice, we'll make introductions to reputable agencies that are hiring. Phew!
Choose any broker you like as your sponsor. Considerations for choosing a brokerage, from the perspective of an agent, include the following.
Cost Percentage For Commission
Compare the commission fees charged by various brokers. If the interest rate is competitive, your commissions will be out of this world.
Niche
Some teams cater to a specific area of town or focus more on buyers vs sellers. It's important to understand what the team focuses on.
Culture
Perhaps you put a premium on fitting in with the company's culture. If so, it's crucial that you learn their values, methods, and priorities.
That's to suggest that you can choose the best brokerage for your needs.
Requirements set out by the ODRE for obtaining a real estate license
The Ohio Division of Real Estate is in charge of administering and regulating real estate licenses in the state. Real estate sales license candidates must meet a number of Division standards before they can even apply. Included in this group are:
ODRE Criteria to receive a real estate license
The Ohio Division of Real Estate oversees and regulates real estate licenses in Ohio. The Division imposes a number of qualifying restrictions on anyone seeking a real estate salesperson license. These include:
- At least 18 years of age
- Be a citizen of the United States, a national who is not a citizen, or a qualified alien under federal law.
- Possess a high school diploma or an education deemed comparable by the Ohio Department of Education.
- Be trustworthy, sincere, and reputable.
- Not having been convicted of a criminal or morally reprehensible offense.
- Within the last two years, no violations of civil rights legislation pertaining to real estate have occurred.
The first three are very straightforward, but the next ones are less so. The good news is that the vast majority of our visitors/users should not be concerned. Only if you had criminal crimes, outstanding judgments, disciplinary proceedings taken against a professional or occupational license, or have engaged in unlicensed real estate activities would you need to be worried.
You may begin the process to become a real estate salesman if you satisfy these prerequisites.
How much does it cost to become a real estate agent in Ohio?
It is determined by the institution you attend for prelicensing education, the books you purchase, how many times you fail the test, where you apply (as a citizen or via reciprocity), and any preparatory courses you take.
You may estimate your overall expenditures by using the following fees, which apply to everyone taking the Ohio license exam:
- Depending on the vendor, the real estate prelicensing course costs between $400 and $1,000.
- A Salesperson Examination Application costs $81, while a Broker Examination Application costs $135. When you repeat the licensure test, you must pay the same costs.
- You must pay a $18 charge to the FBI to get a background check done.
- The application fee for obtaining your Ohio Real Estate License via reciprocity with another state is $135.
How long does it take to become an Ohio real estate agent?
Everyone is unique and prefers to attend courses, study, and take tests at their own speed. Some may complete the whole procedure in three to four months, while others may take a year or more. Both are perfectly reasonable time periods.
You may complete the prelicensing course online at your own speed, although most students finish the 120-hour course in 3 to 4 weeks.
A background check should take no more than ten days, following which you may apply to take the license test. It will be arranged within two weeks, depending on seating availability. Following then, it is dependent on how quickly you pass the test.
How much does an Ohio real estate agent make?
The yearly mean pay for a real estate agent in Ohio is $47,420. A successful, high-performing agent may make $83,840 or more (top 10%).
With an annual mean income of $67,120, real estate brokers in the Huntington-Ashland metro region are among the highest-paid in Ohio.
How tough is it to become an Ohio real estate agent?
You should be able to pass the test on your first attempt if you study the courses properly and with a focused mentality. Regularly studying every aspect of the prelicensing course will help you remain on track and take everything step by step, making it simpler to prepare for the final test without being overwhelmed and confused by the content.
A real estate test prep course may always help you get in the appropriate attitude and concentrate your attention on the right areas of the exam. If you believe you need further preparation, a prep course may be just what you need to pass the first time.