The state of Oregon offers two types of real estate licenses: The Oregon broker license and the Oregon principal broker license. This article discusses the requirements for the broker license. Here are the following education requirements you must meet in order to become a licensed real estate agent (broker) in Oregon.
The broker license includes 150-hours course of study that consists of the following modules:
- Oregon Real Estate Practice (30 hours)
- Real Estate Law (30 hours)
- Real Estate Finance (30 hours)
- Contracts (15 hours)
- Agency (15 hours)
- Property Management (10 hours)
- Real Estate Brokerage (20 hours)
- Must have at least a high school diploma or a GED.
Processing fee for a background check is $47 and must pass DOD checks. The background check also includes submission of your fingerprints.
When you get your real estate license in Oregon, you will then have to complete an additional 30 hours of continuing education courses in the next two years. However, the real estate continuing education courses are not regulated by any entity—it is self-certified. The courses can be taken online, audio/video, or in a classroom environment.
Once you are done with your coursework, then it is time to register for the real estate exam. The Oregon real estate exam is a little cheaper than other states, only costing $75.
Oregon’s real estate exam is a little lengthier than other states. The exam is two parts; Oregon Real Estate and National Real Estate. The National Real Estate portion of the tests consists of 150 questions. The Oregon Real Estate portion of the test is 50 questions and you have 2 hours to complete that.
Oregon has real estate license reciprocity agreement with the following states: Alabama, Colorado, Georgia, Idaho, Missouri, Montana, Nebraska, South Dakota and Wyoming. That means if you are a licensed real estate broker in the above states, then you may practice in Oregon by registering and will not have to go through the examination and coursework to get your broker license. This reciprocity agreement only applies to broker licenses and not salesperson licenses.
The governing/licensing body of Oregon that handles real estate licensing is the Oregon Real Estate Agency.
The real estate license fee is $230 and has to be renewed every two years. If you have an inactive license, then the renewal fee is $110. If you are renewing late, then there is a $30 fee on top of what you have to pay.