Kentucky Real Estate Requirements
Article Summary: This article contains helpful insight into Real Estate License requirements for the state of Kentucky. It will help anyone interested in further understanding the governing agency, general requirements, approved education, examination, Broker Licensing and more.
The Kentucky Real Estate Commission is the governing agency that oversees the real estate industry within the state. Their office is located in Frankfort, KY. They are responsible for all licensing and regulation of proprietary real estate schools. The Commision also administers a Student Protection Fund that helps eligible students if a school closes or loses its accreditation.
One must be at least 18 years of age and have a highschool diploma or equivalent to fall under the general Kentucky Real estate license Requirements. An applicant must first complete either 6 credit hours in real estate courses from an accredited college or 96 hours in approved real estate classes from an approved proprietary school.
An FBI criminal background check is necessary before taking the Kentucky licensing exam. Candidate testing information is provided by the KREC. The examination fee is $100 and should be scheduled through PSI. The Exam passing score is 75% or higher.
A license sales associate application should be submitted within 60 days of passing the real estate exam. All forms are located on the Commission’s website.
When it comes to continuing education and renewal, licensees are not required to attend the educational courses during the first two calendar years from the initial license. After the initial two years, active licensed agents must attend six hour of approved CE including 3 hours in real estate law by December 31st each year.
When it comes to applications for a Broker’s license, one needs the necessary experience of at least two years of working 20 hours a week as a licensee. They also need 21 credit hours including 12 in real estate and 3 credit hours in Broker Management from an accredited college or 336 classroom hours in real estate from an approved school by the commission with at least 48 of those hours in Brokerage Management.
There is an education review form provided by the KREC each person should request before taking the state’s broker exam.
Kentucky Real Estate License Requirements
The Kentucky Real Estate Commission welcomes anyone who chooses to apply for a real estate license to do so, but there is no guarantee you will obtain a license. All applicants must meet a minimum set of requirements, as well as another set of education requirements. The most basic requirements are simple to secure. You have to be at least 18-years-old, and you must have a valid high school diploma or GED. You also have to submit your fingerprints and permission for the KREC to obtain a criminal background check. You have to pass this check. If you don’t, your application is denied.
Education Requirements in Kentucky
The Kentucky Real Estate Commission requires all future agents successfully complete 96-hours of pre-license education. If you’d like to avoid taking these courses, you can take 6 credit hours of approved real estate courses at any Kentucky college or university. You may choose to take your classes online or in a classroom setting, and you have to choose a facility that is approved by the KREC. These classes are not free, but the fee for each one depends on where you take it and whether it’s online or in a classroom setting.
Prior to taking your state exam, you must submit permission for a criminal background check to the state. The FBI website features a Fingerprint Card for download, and you can have your fingerprints done at any police station for only $18. These are submitted with your criminal background check form, which is provided to you when you pass your pre-license education courses. Once those are submitted, you can take the exam.
The exam for a real estate license is issued by PSI Services, LLC in Kentucky. You’ll register online by choosing a location most convenient for you, paying a $100 fee, and scheduling an appointment. You need to pass the exam with 75 percent or higher. If you don’t pass one or both portions of the exam, you can take it again as many times as you need. Be warned this costs $100 each time.
Now that you have a certificate stating you passed your state exam, you can submit the application for a license your testing center provided for you with your pass certificate. You need to send this in with a $60 check to pay the fee. If you pass the fingerprint and background check, you’ll receive a license. You have only 60 days following the passing of your state exam to submit an application for 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!