How to Get a Real Estate License in Oklahoma
Real estate careers in Oklahoma can appeal to those who want flexible working hours, unlimited income, and enjoy working with clients. To pursue this career, you must fulfill several national and local requirements before procuring your license.
If you're looking to start a career in this field, knowing the requirements will help you prepare. In this article, we walk you through various stages of licensure and other basic concepts of becoming a real estate agent in Oklahoma.
Oklahoma Real Estate License Requirements
Here are the basic requirements for obtaining your real estate license in Oklahoma:
- Be at least years old.
- Have a good moral character
- Be a resident of the United States or have a lawful non-immigrant status.
How to Get a Real Estate License in Oklahoma
Step 1: Real Estate Pre-licensing Course
All applicants must take a 90-hour pre-licensing coursework covering the current trend in real estate, Oklahoma and agency relations. And there's more. You're advised to complete this coursework in a state-approved institution to avoid being excluded from licensure.
Most institutions offer this coursework as a full-time option whereby you study for 40 hours each week and finish the class in several weeks. Others prefer the online option, which offers applicants the flexibility to complete the course at their own pace.
Regardless of your option, you'll need to sit for a final exam to reaffirm that you're conversant with real estate principles. You must score above 75% to earn credit for completing the test and qualify to take the salesperson exam.
Step 3: Oklahoma Real Estate License Exam
While the course exam prepares you with the knowledge to transact real estate in Oklahoma, the license exam tests your competency even further. You can schedule your exam through the PSI website.
The exam fee is $60, payable to the PSI site using a debit or credit card. This salesperson exam consists of 80 national questions and 40 state-related questions. You must complete the test within 3 hours and score at least 75% to move on to the next licensing stage.
Since the test is computer-based, you'll get your score report shortly after finishing the exam. This score report will be marked as a "pass" or "fail." If it indicates "fail," you'll see an outline of your score in both sections of the exam. This should guide your studies if you plan to redo the exam.
Step 3: Fingerprinting and Background Check
After performing well in the salesperson exam, the next step is to take your fingerprints for a background check. To begin, you'll need to schedule an appointment with IdentoGO to have your fingerprints taken. The fingerprinting fee is $60.
After your fingerprints are taken, the relevant state department will begin the background check process. Your background report will then be forwarded to the Oklahoma Real Estate Commission. This commission will examine any findings in your background report for eligibility. In case of minor imperfections, they'll contact you to clarify.
Step 4: Find a Sponsor Broker
You must be associated with an active sponsor broker to conduct real estate activities in Oklahoma. Be sure to choose a broker specializing in your niche and one who aligns with your career objectives. This way, you'll start your career positively, leading to greater opportunities.
Step 5: Real Estate License Application
This is the final step of licensure. It involves paying a $165 application fee and completing the application form. You'll also be required to attach a passport-sized photo in the dimensions highlighted on the application form. The photo must be nothing more than one-year-old from the date your application is submitted to the OREC.
After filling out the application form, you must submit it to the commission and wait for your real estate license to be issued. This should take at least 10 days.
How Much Do Real Estate Agents Make in Oklahoma?
The average annual salary for real estate agents in Oklahoma is $97,941. However, this average wage can vary based on your field of expertise. For example, you can increase your earnings by selling value-minded properties like luxury homes.
How Long Does it Take to Get a Real Estate License in Oklahoma?
The duration it takes to earn a real estate license in Oklahoma varies based on your commitment to the process. If you finish your prelicensing course quickly and submit your application on time, you could get your license in three months. If you take too long to complete the course or hand in your application, you'll receive your license after 6 months.
How Much Does it Cost to Get a Real Estate License in Oklahoma?
The cost of acquiring a real estate license in Oklahoma varies depending on the institution you choose to take your prelicensing education. Here is a genuine estimate:
- All Oklahoma fees: $300
- Pre-licensing education fee: $377-$528
- Total estimated cost: $680-$830
If you want to see some examples of questions that will be on the actual real estate exam, check out our free real estate practice exam. We have been named as the best real estate exam practice for 7 years in a row!
If you need to get your required educational hours done, check out our partners for online real estate education that can be done at your own pace from home or where ever you have internet access.
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