How To Get Your Real Estate License in Oklahoma
If you wish to have a flourishing career in real estate, the ultimate goal is to become a real estate broker. However, you will first need to go through the entry-level licenses for this chosen career path.
This article will help pave the way for that!
Before we get started…
Let’s get to know the difference between the three license types:
A provisional sales associate (PSA) is an entry-level position in the industry. A PSA does not have the power to enter into contractual agreements with a client in his own name. Thus, it is necessary to be under the supervision of a sponsoring broker.
At the end of the 1-year PSA license term, you may claim your sales associate license. Given you completed all requirements and paid the necessary fees.
A sales associate (SA) functions similarly as a PSA. A Sales Associate still needs to use the name of his sponsoring broker when entering into contractual agreements.
The difference between a PSA and SA lies in the required exams, which we will discuss in a bit. The SA license is a 3-year renewable license, as opposed to the PSA’s 1-year term only.
A broker license allows a person to conduct business as a firm. He/she can sponsor licensed associates. This makes the real estate broker responsible for all their contracted agreements.
What are the Requirements to Get a Real Estate License in the State of Oklahoma?
The following are required for all Oklahoma real estate license applicants:
- Proof of being at least 18 years of age
- Good Moral Character
- Pass a National background check, including 1 fingerprint card
- Proof of Citizenship (e.g. birth certificate, valid passport, Green Card, etc.)
Provisional Sales Associate
- Get a Sponsoring Broker
- Proof of completion of 90 hours, Part I of Basic Real Estate instruction, approved by the Oklahoma Real Estate Commission
- OR proof of completion of 6 college credit hours on real estate courses
- Complete and submit the application form
- Pass the Oklahoma Real Estate Exam
- Complete another 45 hours of Part II, Post License Education within 1 year
- Exam Fee: $60; License: $75
Sales Associate
- Get a Sponsoring Broker
- Proof of completion of 90 hours, Basic Real Estate course
- OR proof of completion of 6 college credit hours on real estate
- Complete and submit application form
- Pass the State of Oklahoma Real Estate Exam
- Complete 12 hours continuing education course within 3 years
- Exam Fee: $60; License: $165
Real Estate Broker
- Must have at least two years of active experience in real estate within the past 5 years
- Proof of completion of 90 hours of Advanced Real Estate Instruction
- Complete and submit the application form
- Pass the Oklahoma Real Estate Exam
- Successful completion of 12 hours continuing education course, in every 3-year term
- Exam Fee: $75; License: $225
How do I get my real estate license in Oklahoma?
Step 1
Verify and prepare all the requirements, payment of fees, and all application paperwork. This also depends on the type of real estate license you apply for.
Step 2
Find and select a Real Estate License Oklahoma School to complete the required number of clock hours of courses.
It can either be taken online or in a classroom setting. If you opt for the online courses, you can start immediately.
What’s great is you can study at the comforts of your home, and at your own pace. For the classroom courses, you must follow a set schedule. Make sure these courses are accredited by the Oklahoma Real Estate Commission.
Step 3
If you are applying for a provisional sales associate license, or SA licensing, get a broker affiliation.
Step 4
Submit your application to take your Oklahoma real estate license exam.
Step 5
Schedule and successfully pass the examination. If you are worried about not passing on your first try, don’t worry. It’s common to take two or three attempts unless you are using our real estate practice tests.
Step 6
Make sure to bring 2 forms of active identification with matching names and contain a valid signature.
One of the proofs of identification must be photo-bearing. Have this ready during your examination schedule. You will also need a basic, silent, non-scientific calculator.
What is the Oklahoma Real Estate License Exam?
The provisional sales associate and sales associate exams comprise 130 multiple-choice questions. These are to be answered on a computer. 3 hours is the allotted time to complete the exam.
The broker examination consists of 150 multiple-choice questions. You will have 4 hours to complete the exam.
To pass, you must correctly answer at least 75% of the questions. You will immediately receive your score after completion.
The examination is divided into two parts. The National portion of the examination consists of the following topics:
- Property Ownership
- Land Use Controls and Regulations
- Valuation and Market Analysis
- Financing
- General Principles of Agency
- Property Condition and
- Disclosures
- Contracts
- Transfer of Title
- Practice of Real Estate
- Real Estate Calculations
- Subdivisions
- Commercial, Industrial, and Income Properties
While the state-specific portion composes the following:
- Laws and Rules Affecting
- Oklahoma Real Estate
- Practice
- Oklahoma Broker
- Relationships
- Property Management
- Disclosures
*For brokers’ examination only:
- Trust Accounts/Trust Funds
- TBroker Operational
- TProcedures and Qualifications
- Closing Statements
Is The Real Estate Exam Hard?
The real estate sales exam is not as difficult as the broker exam. Also, only 55% of first-takers pass the exam.
Don’t let this scare you. Re-taking the exam does not mean you are a failure. To be safe, use a proven study method to pass the real estate exam
What is the Oklahoma Real Estate Reciprocity Agreement?
A real estate license reciprocity allows licensed agents to secure a license in a new state with fewer requirements.
In some cases, you won’t need to take any pre-license courses or the licensure state exam.
Reciprocity is state-specific. You may contact the Oklahoma Real Estate Commission (OREC) for a case to case information of the requirements.
Oklahoma currently has reciprocity agreements with:
- Alabama
- Arkansas
- Iowa
- Louisiana
- Maryland
- Nebraska
- North Dakota
- South Dakota
Make note, this does not include Texas which is where most people want the reciprocal agreement from.
Final Thoughts
Having an Oklahoma real estate license is a big step towards an exciting career as a real estate professional.
Focus on completing all requirements and trust the process. In case you don’t make it on your first try, it’s not the end of the world! Give it another shot.
We hope this article has helped you plan your personal journey to success!
