Embarking on a Real Estate Career in Wyoming
Ready to dive into the world of real estate? It's an exciting career choice, but there are a few formalities you'll need to navigate before you can start buying and selling properties. If you're considering becoming a real estate agent in Wyoming, you'll need to follow a specific set of requirements, which we'll cover in this guide. Read on to learn the ins and outs of obtaining your real estate license in the Cowboy State.
The Basics of Wyoming Real Estate License Requirements
To become a real estate affiliate in Wyoming, you'll need to meet the following criteria:
- Be at least 18 years old.
- Be a U.S. citizen or a legally present immigrant.
Once you fulfill these basic requirements, you can begin the licensing process.
The Steps to Obtain a Real Estate License in Wyoming
Step 1: Fingerprinting and Background Check
Before you can enroll in a pre-licensing course, you'll need to submit your fingerprints for background checks with both the FBI and state DCI. You can schedule an appointment at any local law enforcement agency, where they'll take your fingerprints. Keep in mind that fees may vary depending on the location.
Make sure to submit two fingerprint cards with clear impressions, and have the official taking your fingerprints sign and seal them in a 9x9-inch manila envelope. Along with your fingerprint cards, mail a letter containing your contact information and a $39 certified check or money order to the WREC office.
Note that your fingerprint report will expire three months after it's sent to the WREC, so make sure to complete the application process before then.
Step 2: Complete Your Real Estate Pre-Licensing Course
Once you've submitted your fingerprints, you can enroll in the required 54-hour pre-licensing course, which covers topics like real estate practices, property value and appraisal, land description, contracts, and agency. After finishing the course, you'll need to take a final exam, scoring at least 75% to receive your completion certificate.
Step 3: Pass the Wyoming Real Estate Exam
The testing agency Pearson VUE administers the official real estate licensing exam in Wyoming. Create an account on their website to schedule your test, and be sure to review the candidate handbook and content outline to familiarize yourself with the exam format. The exam costs $160 if taken at a PearsonVUE test center or $180 if taken online.
On exam day, bring two forms of identification, including one government-issued ID with your photo and signature. The test is split into national and state-specific portions, and you'll need to score at least 75% on each section to pass.
Step 4: Find a Brokerage to Work With
As part of the licensing process, you'll need to affiliate with a sponsoring broker who will employ and mentor you during your early years in the business. Make sure to choose a broker who shares your goals and has a solid reputation, both locally and nationally.
Step 5: Obtain Errors and Omissions Insurance
Wyoming requires all real estate licensees to carry errors and omissions insurance. You can apply for coverage through the state's official provider, Williams Underwriting Group, or choose another provider as long as their coverage meets Wyoming's requirements.
Step 6: Apply for Your Real Estate License
Once you've completed all the steps above, you can apply for your real estate license within three months of passing the state exam. Submit your completed application, along with a $300 licensing fee, a current photo, proof of insurance, your exam score report, and copies of your birth certificate, driver's license, or passport to the Wyoming Real Estate Commission.
You should receive approval within ten days, after which your license will be emailed to you.
The Cost and Timeframe for Obtaining a Wyoming Real Estate License
The total cost of obtaining a real estate license in Wyoming typically runs around $1,080, which includes fees and pre-licensing education. As for the timeframe, you can generally expect to complete the process within three months if you stay on track with your coursework, pass the exam, and submit all necessary documents in a timely manner.
The Earnings Potential for Wyoming Real Estate Agents
Real estate agents in Wyoming can earn an average of $102,318 per year, although factors like education, experience, and commission structure can impact your earning potential. By investing in yourself and your career, you can maximize your income and open up new opportunities in the world of Wyoming real estate.
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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