Indiana Real Estate Requirements
Article Summary: The following article outlines and offers information for anyone who would like to gain understanding of what it takes to obtain a real estate license in the state of Indiana. Included primarily is a summary of rules and regulations enforced by the Indian Real Estate Commission including education requirements, examination, renewal, and more.
The Indiana Real Estate Commission (IREC) is the governing body that oversees the State of Indiana’s real estate exams, license, and continuing education. The Governor appoints the 12 members of the IREC for 4 year terms. Their purpose is to safeguard the public interest and make sure standards and ethical practices are met within the industry.
In Indiana, the first level of license (broker license) requirements start off with someone needing to have a high school diploma or equivalent and be at least 18 years old. A person cannot have a criminal record that could affect their dealing with the public.
There are 90 hour of real estate broker pre-license courses that need to be completed. These should meet the education requirements for the Commission which are listed here. The course is divided into three sections and has a proctored 100 question exam that is administered after each section.
The Indiana Real Estate License Exam is passed with a score of at least 75%. Registration can be done with the exam provider for the state PearsonVue. Each applicant is required to be sponsored by a Managing Broker at the time of an application for a license in order to practice actively. The Managing Broker that intends to associate with a licensee must provide a sworn certification that should be included when applying for a broker license.
When it comes to post licensing education, licensees need to take and pass 30 hours of education during the first two years after the license is issued instead of continuing education. After the two years are complete, there are 12 hours of yearly CE required and a 3 year license renewal period for IN.
To become a managing broker, Indiana Law required one to have an active broker license for at least 2 years and complete a 24 hour managing broker course. Once those qualifications are met, a person can apply to the Commission for eligibility.
Indiana Real Estate License Requirements
The Indiana Real Estate Commission requires all hopeful real estate agents in the state meet a number of mandatory requirements. You must be at least 18 when you apply for your license. You must not have any criminal background. If you do, you need to ask the IREC for approval of your criminal history on a case-by-case basis. You must be a resident of the state, and you must be legally able to work in the United States. Once you meet all of these real estate eligibility requirements, you need to follow up with the appropriate education.
All Indiana residents looking to obtain a real estate license must complete 40-hours of pre-licensure classes. These classes are available online and in person, but they must be issued by a state-approved facility to be considered valid. The fees for these course depend on where you live, and which course you choose to take. You have to pass these classes with a satisfactory grade to continue to the next step.
Indiana State Exam
To qualify for a salesperson license in Indiana, you must be able to pass the state real estate exam. The fee is $65, and the test is available at any Pearson VUE facility. You can take the test as many times as you need, but you have to pay each time. The passing grade is 75 or higher. There are two different sections on this exam, and either one can be retaken without the other if one is failed and one is passed.
Real Estate License Application
Following the successful completion of your state exam, you are required to send in an application for a license. It’s available at the testing center for anyone who passes the exam. It must be filled out completely and honestly, and you must include proof of your coursework completion and passing exam grade. You have one year to apply for a license following the satisfactory passing of the state exam. The fee is $35, and you must also agree to a criminal background check when you send in your application.
Once your license application is approved, you are going to become responsible for finding a broker to hire you. It’s your job to keep up with your continuing education each time your license is set to expire. Not completing the required education means you’ll see your license deactivated, and you’ll not be able to sell homes until this issue is handled.
Disclosure :: Please be aware that these requirements change from time to time, we do our best to monitor the changes but it is always best to go to the source to confirm the requirements!