Frequently Asked Questions:

Licensing

 

What are the requirements to become licensed in Ohio?

For an Ohio Real Estate license, you are required to be honest, truthful and of good reputation. You must be at least 18 years old and be sponsored by an Ohio Broker. You may not have been convicted of a felony or a crime of moral turpitude or have violated any civil laws regarding real estate within the past two years as determined by a court of law or violated any rules of the Ohio Division of Real Estate. In some circumstances, it is possible to have a conviction or violation disregarded, which would allow you to sit for the exam. The Division may only make a determination with respect to a conviction or violation if you file an application. For additional information on this process, contact the Division directly or review additional information found on the Division's website. You are also required to have a high school dipoloma or its equivalent as recongized by the Ohio department of Education if you were born after 1950. Lastly, you must have met the education requirements.

What are the Educational Requirements for licensing?

You must have a high school diploma or equivalent and completed the 120 hours of pre-licensure education including:

- 40 hours: Real Estate Principles and Practices

- 40 hours: Ohio Real Estate Laws

- 20 hours: Real Estate Appraisal

- 20 hours: Real Estate Finance

All can be completed at multiple locations statewide, online, or mix and match to create your own custom schedule.

Classes

 

Where can I take my Real Estate Courses?

In Ohio pre-licensing courses need to be taken at an Institution of Higher Education. Not all schools may be approved. There are numerous schools, universities and communities that offer pre-license education around the state. Please check in advance with the Educator of choice.

Are online schools a good option?

This is your personal preference. Many Real Estate schools offer both online and in person classes. While online classes allow you to finish the courses at your own pace, many choose/enjoy the classroom environment. One benefit of the classroom is more interaction between the students and instructor allowing for better discussion and/or understanding the topic.

Do I need a sponsor to start the classes?

A sponsor is not needed to start Real Estate courses; however, you will need a sponsoring Broker before taking the State exam.

How long are Ohio pre-licensure courses valid?

Pre-licensure courses are valid for 10 years.

After I complete the classes, what's next?

You must be sponsored by an established Ohio Real Estate Broker. 

Testing

 

What steps do I have to take to schedule my exam?

After completion of pre-licensure education and other requirements, you must submit an application to the Ohio Division of Real Estate and Professional Licensing BEFORE scheduling an examination. Application forms may be obtained by clicking the following link:  Application Form

How much does the application cost?

An application fee of $60 made payable to the Division of Real Estate and Profession Licensing is required and must accompany an official transcript verifying successful completion of 120 hours of the required course work.

Where do I submit my application?

All Real Estate applications must be submitted to the Columbus, Ohio office of the Ohio Division of Real Estate and Professional Licensing at: 77 South High Street, 20th Floor, Columbus OH 43215-6133. Regardless of the location of your examination, the application must be sent to the Columbus office.

What is considered a passing score on the exam?

The candidate must pass a two part license exam with a minimum score of 70% on each part to meet the license exam requirements.

Income

 

How much does a Real Estate Agent make?

Answering this question requires a basic understanding of the job. Traditionally it is a commission based business. Simply put, unless you make a sale, you do not get paid. How much you earn depends on the number of completed transactions and the commission plan (split) between you and your broker. Typically speaking, most new agents receive a low commission split while they learn the business. A first-year agent makes about 50% of the total commission recieved by the broker. It takes a lot of time and effort to build up a business. They struggle to learn while working to build a client base. Your earnings are directly affected by sales ability, people skills, hard work, and market conditions. The harsh truth is most first-year real estate agents earn very little.

General

 

Can I set my own schedule?

Real Estate agents are considered independent contractors. Generally speaking, they are in control of their success and are free to do business on their own terms and schedule.​

Can I work as a part time agent?

Most brokers accept part time agents, however finding an acceptable level of success may be difficult. Part time agents are usually unable to attend training courses, sales meetings, etc. In addition, part time agents find it difficult and/or unable to meet clients/customers when necessary to become successful.​

What type of Real Estate training is provided for new agents?

Each broker provides different levels of support and training. Proper training is key to your success. Carefully consider which company/broker has the most to offer. Generally speaking, larger brokers appear better equipped to help with all aspects of the industry.

Where will I find leads/clients?

Lead generation is the key to being successful in the Real Estate industry today however more often than not they are self-generated. Lead generation methods include (but are not limited to) working internet leads, the "For Sale By Owner Market" (FSBO's), expired listings, open houses, door knocking, farming (advertising) and contacting your sphere of influence, etc.

What responsibilities will I have as a Real Estate agent?

Assisting buyers and sellers in marketing and purchasing properties. Handling negotiations and so much more.

© 2018 Courtesy of Berkshire Hathaway HomeServices The Preferred Realty

Information provided considered, reliable but not guaranteed.