An applicant must complete 90 hours of pre-licensing training, pass the salesperson test, submit an application and license fee to the Oklahoma Real Estate Commission, and pass a background check in order to work as a real estate agent in Oklahoma.
To pass your test on the first try, let’s get started with our Oklahoma real estate exam practice questions now!
Before you decide to pursue a career in real estate sales, you need to understand the job of a real estate salesman. Simply defined, an agent works as a middleman between a buyer and a seller to assist in the sale or purchase of real estate. They assist customers with finding houses that fit their criteria and negotiating contracts with sellers. Some agencies also assist customers in finding rental properties or leasing out their apartments.
Follow this article if you don’t know how to get a real estate license in Oklahoma. We provide you with a step-by-step guide to getting your license with ease.
What is the difference between PSA and SA?
Let’s look at the differences between the three licensing types:
A provisional sales associate (PSA) is a position at the entry level of the sector. A PSA does not have the authority to enter into contracts with clients in his or her own name. As a result, it is important to be overseen by a sponsored broker. You may collect your sales associate license at the conclusion of the one-year PSA licensing period. Given that you met all of the requirements and paid all of the required payments.
A sales associate (SA) is similar to a personal sales assistant (PSA). When entering into commercial agreements, a Sales Associate must still use the name of his sponsoring broker.
The difference between a PSA and a SA is found in the needed tests, which we shall go over shortly. The SA license is renewable for three years, as opposed to the PSA’s one-year duration. A broker license permits an individual to operate as a firm. He or she has the authority to sponsor licensed associates. As a result, the real estate broker is held liable for all contractual obligations.
What are the requirements to get a real estate license in Oklahoma?
All Oklahoma real estate licensing candidates must provide the following information:
- Provide proof that you are over 18 years old
- Excellent Moral Character
- Pass a national background check, which includes one fingerprint card
- Evidence of Citizenship (e.g. birth certificate, Green Card, valid passport, etc.)
Provisional Sales Associate
- Locate a Sponsoring Broker
- Proof of completion of 90 hours of Oklahoma Real Estate Commission-approved Basic Real Estate Instruction Part I
- OR proof of completion of 6 college credit hours in real estate courses
- Fill out and submit the application form
- Take the Oklahoma exam and pass it
- Within one year, complete another 45 hours of Part II, Post License Education.
- The exam fee is $60; the license fee is $75.
- Find a Sponsoring Broker
- Proof of successful completion of the 90-hour Basic Real Estate Course
- OR evidence of completion of six college credit hours in real estate
- Fill up and submit the application form
- Pass the Real Estate Exam in the State of Oklahoma
- Within three years, complete a 12-hour continuing education course
- The exam fee is $60; the license fee is $165
Real Estate Broker
- Must have at least two years of active real estate experience in the last five years
- Proof of having completed 90 hours of Advanced Real Estate Instruction
- Fill out and submit the application form
- Take the Oklahoma Real Estate Exam and pass it
- Every three years, you must complete a 12-hour continuing education course
- The exam costs $75, and the license costs $225.
How do I get my Oklahoma real estate license? – 5 Steps
Step 1: Attend 90 hours of Oklahoma Pre-Licensing Education OR 6 hours of college credit in real estate
The Oklahoma Real Estate Commission requires 90 hours of Provisional Sales Associate Pre-Licensing instruction from a real estate school certified by the commission. Following completion of the program, you must pass your school’s final real estate test. College students who have completed at least 6 courses in a real estate field may also be eligible. The program covers real estate law, different types of real estate interests and ownership, house ownership, legal descriptions, titles, liens, taxes, encumbrances, listing advertising, appraisal, finance, closings, and a professional code of ethics. The education is valid for three years from the date of completion of the course.
Step 2: You must submit your fingerprints and pass a background check
You must submit your fingerprints for a background check to take your licensing exam and finish the real estate license application. Both the Oklahoma State Bureau of Investigations and the FBI will review your background and report to the Oklahoma Real Estate Commission. Use the service code 2B7NR3 to sign up for fingerprints and background checks through IdentoGo, a local licensing and certification organization.
All applicants for a new license must first complete the necessary application and submit it together with a fingerprint card and the required $41.00 cost.
Step 3: Schedule and pass the Oklahoma Salesperson Exam
The Oklahoma Salesperson Exam is offered in four locations: Oklahoma City, McAlester, Tulsa, and Woodward. PSI Services distributes exams that are taken by computer. You may get the correct address by visiting their website. Individuals living outside of Oklahoma may take the exam at any PSI facility. There is a charge for the examination, which is subject to change without notice. Some students benefit from taking Exam Prep classes before their exams. It not only helps students pass the exam but also lowers tension in the weeks leading up to it.
Step 4: Fill out the Oklahoma Provisional Sales Associate application form
All candidates must have finished their Pre-Licensing curriculum within the last 36 months. There are application costs, which are subject to change without notice. Click here to apply for an Oklahoma Real Estate Provisional Sales Associate license with the Oklahoma Real Estate Division.
The Oklahoma Real Estate Commission (OREC) will notify PSI of an applicant’s approval to test once the Commission has reviewed your examination application for eligibility. The following information must be included in the licensing application:
- A fingerprint card that has been completed and paid for
- Evidence of citizenship or qualified alien status
- A recent photo
- Proof of education can be presented either with the application or after the completion of such education.
The final page of the application allows the applicant to sign up with a broker before taking the exam; even so, this part of the form is not required to be done before taking the examination; even so, if said last page is completed, an applicant can proceed to have their license issued once they take the test and receive final approval. If an application has not yet chosen a broker, they have the option of placing their license on inactive status. Inactive status is only necessary if the candidate has not yet chosen a broker during the examination grade’s validity term.
Step 5: Search for a sponsoring broker
You’ll need to seek a sponsoring broker before you can start working as a real estate agent. Agents are not permitted by law to enter into contractual transactions without the supervision of a qualified broker. This phase can be performed at any time after finishing your Pre-Licensing coursework, but it is not necessary until you intend to work as an agent.
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FAQs – How to get real estate license in Oklahoma
What is the Oklahoma real estate license exam all about?
The sales associate and provisional sales associate tests each include 130 multiple-choice questions. These will be answered by a computer. The test has a three-hour time restriction.
The broker test is made out of 150 multiple-choice questions. It will take 4 hours to finish the test. To pass, you must answer at least 75% of the questions correctly. Following completion, you will receive your score instantly. The test is broken into two sections. The following subjects are covered in the National section of the exam:
- Property Ownership
- Land Use Controls and Regulations
- Valuation and Market Analysis
- General Principles of Agency
- Property Condition and
- Transfer of Title
- The practice of Real Estate
- Real Estate Calculations
- Commercial, Industrial, and Income Properties
While the state-specific part includes the following:
- Laws and Rules Affecting
- Oklahoma Real Estate
- Oklahoma Broker
- Property Management
*Only for broker examination:
- Trust Accounts/Trust Funds
- TBroker Operational
- TProcedures and Qualifications
- Closing Statements
How much does it cost to receive a real estate license in Oklahoma?
In Oklahoma, obtaining a real estate license will cost you around $699. Exam fees, background check fees, school prices, and application fees are all your responsibility.
The pricing for a pre-licensing course varies per institution but averages around $450. The price for Provisional Sales Associates is $100. The price for Sales Associates is $200. There is a $35 processing charge. The charge for a background check is $60. The examination fee for a Salesperson is $60.
Is the Oklahoma real estate exam hard?
The broker test is more demanding than the real estate sales exam. Furthermore, only 55% of first-time exam applicants pass the exam.
Don’t let this frighten you. You are not a failure if you retake the exam. To be safe, employ a tried-and-true study approach and make use of the Real Estate practice exam to ace the real estate exam.
How long does it take to acquire a real estate license in Oklahoma?
The amount of time it takes to obtain an Oklahoma real estate license depends on how quickly you finish the 90 hours of pre-licensing coursework and pass your licensure exam, the time it takes you to complete the application process and post-license course, and the time it takes to process your application and background check.
What exactly is an Oklahoma real estate reciprocity agreement?
A real estate license reciprocity program enables licensed agents to get a license in a new state with fewer restrictions. In some situations, you will not be required to take any pre-license classes or the state licensure test. Reciprocity varies by state. You can get case-by-case information on the criteria from the Oklahoma Real Estate Commission (OREC).
Oklahoma presently has reciprocity agreements with the following countries:
- North Dakota
- South Dakota
Take notice that this excludes Texas, which is where the majority of people want the reciprocal agreement to come from.
Is post-licensing education required in Oklahoma?
During the first year of a PSA’s license, after passing the state test and receiving a Provisional Sales Associate (PSA) license from the Commission, the PSA must complete a 45-hour Provisional Post License Course of Real Estate (Part II) certified by the Commission. The month in which a license is issued counts toward the one-year licensing duration, whether it is issued on the first or last day of the month. When a PSA provides documentation of completion of a post-licensing course to the Commission and submits the proper paperwork with fees after their one-year license period, their license will be awarded as a Sales Associate.
In Oklahoma, can a felon work in real estate?
The Oklahoma Real Estate Commission has a list of criminal offenses that would disqualify an applicant for a real estate license. They will look at the applicant’s honesty, trustworthiness, character, and integrity.
Typically, the Commission will focus on violations committed during the last ten years. They include the completion of a criminal term, as well as parole and probation. To do so, you must provide a copy of your criminal history as well as any supporting documentation (i.e., court records). There is a cost of $95 for this service.
But don’t be disheartened; everyone has a history. The most crucial aspect is that you can show that you will serve the public in a fair, honest, and transparent manner. The licensing committee will decide whether or not a convict may work as a real estate agent. Before you spend your time and money on this profession, you may write to the Commission and obtain the first determination.
How much do Oklahoma real estate agents make?
Oklahoma real estate brokers make an average yearly salary of $66,400, with earnings often ranging between $31,040 and $81,650. The top 10% of high-earning real estate sales agents make more than $130,500 each year(*).
You are unlikely to generate much money in the early stages of your real estate profession since it takes time to create a client base and establish trust with prospects.
As you get more expertise and hone your business talents, you should see a big increase in your earnings.
Furthermore, your earning potential as a real estate agent will be determined by the price range of the properties you work with, the number of transactions you can complete, the commission splitting plan you have with the real estate firm, and other considerations.
Is it a good career to be a real estate agent in Oklahoma?
If you appreciate operating a self-employed business, engaging with diverse people, and having flexible work hours, real estate might be an excellent job in Oklahoma.
According to RedFin, there were 4,704 residences sold as of May 2021, with a median sales price of $210,000. When compared to the previous year, all of these values increased. As I analyze the statistics, it appears that demand considerably outpaced home supply. 39.3 percent of properties were sold for more than the asking amount.
These transaction volumes indicate a high need for real estate brokers. According to the Bureau of Labor Statistics (May 2020), Oklahoma had 3,260 real estate sales agents, which equated to 2.088 sales agents per 1,000 employment.
However, in any industry, some succeed and people fail. The most important consideration is how you will remain competitive in the real estate industry.
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Now that you know how to get real estate license in Oklahoma. Obtaining an Oklahoma real estate license is a significant step toward a rewarding career as a real estate agent. Concentrate on finishing all requirements and having faith in the process. It’s not the end of the world if you don’t succeed on your first try! Give it one more shot. We hope this post has helped you in planning your career path to success!
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