Oklahoma Real Estate License Guide

Quick Facts

Oklahoma Real Estate Governing Body:

Oklahoma Real Estate Commission (OREC)

PreLicensing Requirements:

90 Hours

СЕ Requirements:

21 Hours

Read more below

How to Get a Oklahoma Real Estate License

woman studyingThere are many great opportunities for licensed real estate agents in Oklahoma. If you want to become a real estate agent in Oklahoma, then you first need to work towards getting your real estate license.

Before we walk you through the steps involved in getting your real estate license in Oklahoma, let’s discuss the different license levels for real estate agents in Oklahoma.

Provisional Sales Associate (PSA)

In Oklahoma, this is the entry-level real estate license.  It is best for those who are entering the real estate industry for the first time. Also, you should get this kind of license if you have not had an active real estate license in the last five years.

Sales Associate (SA)

women studying for licensing examThis license is quite similar to the PSA license but as a Sales Associate, you are mandated to take twenty-one hours of continuing education on every active license cycle. This license is a 3-year renewable license but the Provisional Sales Associate license expires one year after you pass the licensing exam.

This kind of license is best for those who have formerly had an active sales associate license in another state in the last five years.

Broker Associate

This type of license is best for those who have either presently or formerly held an active broker or broker associate license in another state in the last 5 years.

Broker

If you formerly or currently have an active broker license in another in the last 5 years, then, this license would be best for you. With this type of license, you can manage a corporation, LLC/association, or proprietorship.

Branch Broker

small group of students studyingThis license is suitable for those who previously or presently have an active broker license in another state in the last 5 years. With this kind of license, you can manage the branch office of any legal business entity.

Now that you know the various license levels for real estate agents, let’s discuss how to get an Oklahoma real estate license. Below are the pre-qualifications you need before you begin the application process for a real estate license.

  1. You must have proof of citizenship like a valid passport, unexpired temporary foreign passport, a birth certificate, or a permanent resident card (Green Card).
  2. Only those who are at least eighteen years old can apply for a real estate license in Oklahoma

Step One: Complete the necessary pre-licensing education

It will take you 90 hours to complete your pre-licensing course. In Oklahoma, you must take this course before you can get your real estate license. Ensure you take this course seriously because all the knowledge you gain will help you in your real estate career.

Step Two: Pass the background check

Students studying in group settingTo get your background check approved, you must submit your fingerprint verification card. In Oklahoma, it is required that you have a national background check with fingerprints as a new licensee. It will take you approximately sixty days or more before your background check will be approved. So, it is very vital that you begin the process before you take the exam and submit your application.

Step Three: Submit your application to the Oklahoma Real Estate Commission (OREC)

As a potential licensed real estate agent in Oklahoma, you must apply for a real estate license. Complete the application and submit it to the Oklahoma Real Estate Commission (OREC). OREC is the body that manages every aspect of the real estate license for brokers and sales associates in Oklahoma. They administer exams regularly for broker and sales associate licensing levels.

Step Four: Pass the real estate license examination in Oklahoma

Happy woman studying and smilingWhen you finish taking your 90 hours pre-licensing course, go ahead and register for your exam at a PSI testing center. You will need to pay an examination fee of $60.

The PSA and SA examination has 130 questions. You must score 75% or more before you can pass the exam. The broker examination contains150 questions. You also need 75% or more before you can pass the exam. Your exam score will be given to you right after the completion of your exam.

You only have three hours to answer all the questions in the sales associate examination. But you have four hours to answer all the questions in the broker examination.

Take a non-scientific calculator to the testing center and two forms of photo ID that carry a valid signature and matching names.

The examination is multiple choice and you will need to take it on a computer. The exam has two portions–the state and national portion.

studying for licensing examThe national portion has these sections: Commercial, Industrial, and Income Properties, Subdivisions, Real Estate Calculations, Practice of Real Estate, Transfer of Title, Contracts, Property Condition and Disclosures, General Principles of Agency, Financing, Valuation, and Market Analysis, Land Use Controls and Regulations, and Property Ownership.

The state portion of the examination has these sections: Closing Statements (for only brokers), Broker Operational Procedures and Qualifications (for only brokers), Trust Accounts or Trust Funds (for only brokers), Disclosures, Property Management, Oklahoma Broker Relationships, Laws and Rules Affecting Oklahoma Real Estate Practice.

Step Five: Get sponsorship from an Oklahoma real estate broker

After passing your real estate exam, you must get sponsorship from an Oklahoma real estate broker. This sponsoring broker must be carefully chosen because they will go a long way in determining your success in the real estate industry.

Step Six: Pay a license fee to the Oklahoma Real Estate Commission (OREC)

counting moneyYou will need to pay a license fee of $100 to get your real estate license. Ensure you finish and submit your request for the issuance of an active Sales Associate or Provisional Sales Associate License to OREC.

To get your Sales Associate (SA) license, you must finish the 45 hours Oklahoma real estate post-license course within one year.

FAQ: How long will it take you to get your Oklahoma real estate license?

The whole process from taking the necessary pre-licensing course to getting your real estate license takes between one to four months. According to the regulations of OREC, you have six months to complete your coursework. It will take about four to six weeks for your fingerprinting and a background check to be done.

FAQ: What is the cost of getting a real estate license in Oklahoma?

You will spend about $699 to get a real estate license in Oklahoma. You will pay for your exam fees, background check fees, education fees, and application fees.

The pre-licensing course tuition fee varies from school to school, but averages out to about $450. The Provisional Sales Associates fee is $100. The Sales Associates fee is $200. The processing fee is $35. The background check fee is $60. The Salesperson examination fee is $60.

FAQ: How long do you have to pass the real estate examination?

You have 3 years to pass the state exam from the day you complete either the Broker or Salesperson licensing courses.

Conclusion

If you can follow all the steps we listed in this article, you will be well guided in your journey to becoming a licensed real estate license in Oklahoma.