Iowa Real Estate Requirements
Article Summary: Contained within this article are general guidelines and requirements within Iowa to obtain a Real Estate Salesperson or Broker License. There is insight provided such as Commission information, education standards, necessary steps for applications, renewal, and more.
The governing agency, The Iowa Real Estate Commission, is located in Des Moines, IA. This commission is a part of the Iowa Professional Licensing Bureau. Their mission is listed to “protect the public through the examination, licensing, and regulation of real estate brokers, salespersons, and firms.”
The first step of getting a real estate license in Iowa requires a person to be at least 18 years of age, a US citizen, and have proof of high school graduation or equivalency.
Before taking the state exam, a candidate must finish a 60-hour Principles course and an additional three 12 hour approved courses. Course and school options are listed on the Commission website.
Through PSI, the state’s exam provider, one can schedule an exam for licensing which costs $95. If a person passes the exam, they receive a real estate license application form with the score report. The application must be submitted within 6 months of examination.
The Real Estate Commission conducts a check for felony and misdemeanor convictions through a background check for each applicant. An individual is required to obtain error and omissions insurance coverage in Iowa and proof of coverage has to be provided with all new license applications. They must also be sponsored by a broker at the time of application.
Before applying for a broker’s license, an individual must have been a licensed active salesperson for 24 months. They also are required to complete 60 hours of prescribed broker classes within the nine required pre-broker classes. ThenBroker Exam is also administered by PSI Examination Services at different locations across the state.
For active license renewal, there are continuing education requirements such as 8 hours of Law Update, 4 hours of Ethics, and 24 hours of Commission approved Electives. All salesperson and broker licensees need to complete the CE by December 31st of their 3 year renewal period.
Iowa Real Estate License Requirements Continued
Iowa’s real estate license regulations are some of the strictest in the country. Not only do you have to meet the standard requirements for a real estate license here, you also have to meet even more in-depth requirements. The Iowa Real Estate Commission requires all hopeful salesperson is 18 or older, can pass a criminal background check, has a sponsoring broker, and has had no denied real estate applications in any other state in the past year/revoked real estate license in the past two years. These are just the starting points for all real estate license applicants.
All people hoping to become a licensed real estate agent in Iowa must take the required coursework prior to applying for a license. This includes 96-hours of classroom work. You’ll take 60 hours of pre-licensing education. You’ll take 12-hours of Listing Practices, 12-hours of Buying Practices, and 12-hours of Developing Professionalism and Ethical Practices before you can take the state exam. The fee for each course depends on where you take it and how you take it. All educational facilities need to be approved by the IREC. You need only complete your 60-hours of education prior to taking the state exam, but the rest of the education is required before a license is issued to you.
State Exam Requirements
You have one full year to take the state exam following your 60-hours of education before your successful completion of these courses is null and void. The fee for the state exam is $90, and it is paid when you register to take the exam. You can take it more than once if you don’t pass with a score of 70 or above, but you do have to pay for the test each time you take it. You have one year to pass.
Once you are done with all the educational aspects of passing the exam, you’re going to need to send in your application. This is when the IREC performs a criminal background check, checks all your personal information for accuracy and fact, and issues your license. You need to include your photo ID (a copy), proof you passed your real estate classes, and proof you passed your state exam. You need to include a check for $125 to send with your application. You also need to obtain the signature of a broker on your application, or you cannot receive a license.
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!