Want to become a real estate agent? You’re not alone. The market is expanding, the income potential is virtually unlimited, and the licensing requirements are much less strenuous than those of a four-year degree. But as an Indiana resident, taking and passing the state exam is a just a part of obtaining your license. There are pre-licensing requirements that can be filled only with the aid of one of the many approved Indiana real estate schools.
The minimum education requirement for future Indiana real estate agents and brokers is a 54 hour educational course at a real estate school, or alternately, a total of eight semester credit hours in real estate law and principles at an accredited college or university. Needless to say, it’s simpler and less expensive to attend one of the Indiana real estate schools rather than one of the universities.
Online or Traditional
When choosing a real estate school, you have the option to select between online courses and regular classrooms. Online schools provide you with greater convenience, while a traditional classroom offers you person-to-person interaction and the ability to ask questions. If the school is online, verify that it is approved specifically for Indiana pre-licensing requirements. Requirements differ from state to state, and you don’t want to waste your time and money on a school that is not approved. There is no such thing as a national real estate license, and in order to earn an Indiana real estate license you must meet the state’s specific requirements.
Selecting a Specific School
Any approved school is likely to teach the education you need to pass the real estate licensing exam, but in order to be certain, try to find a school that has a high pass rate, and that offers your money back if you do not pass. Aside from these considerations, and of course, cost of tuition, attend the school most convenient for you.
Other Indiana Licensing Requirements
To obtain a real estate salesperson license in Indiana, you must:
- Meet the education requirement at one of the approved Indiana real estate schools
- Be at least 18 years old
- Have no criminal conviction that could compromise your ability to practice real estate competently
- Pass the state exam
- Apply for your license within 120 days of passing the exam
- Pay the $25 license fee
If you want the real estate broker license, you must meet all the above requirements, plus have one year of continuous experience as a licensed salesperson just preceding your application, or equivalent experience. The license fee for brokers is $50.
Taking the Exam
You’ve completed your 54 hours of education and are ready to see your hard work pay off. You can now take the test in one of three locations: Tuesday through Saturday in Scherville or Indianapolis, or Saturday only in Evansville. The test is held twice a day at 8 a.m. and 1 p.m. The exam fee is $63, and you are allotted four hours to take the test. To pass, you must score 75 percent or better on both the general real estate portion and the state license law portion of the test. You will be provided with your score before you leave the testing center.
After you have successfully taken the exam, you are ready to obtain your license and begin practicing real estate.
By Riannon Cutler
Editor