If you have ever dreamed of helping people find their dream homes, handling real estate transactions, and bringing in a worthy income, then a career as an Ohio real estate agent may be just the right direction to take. Whether you are attracted to a state’s busy urban center, such as Cleveland and Columbus, or its more quiet suburbs, becoming an Ohio real estate agent offers a variety of opportunities.
However, like any other profession, there are certain steps that you need to undertake with the intention of becoming a licensed real estate agent in Ohio. This detailed guide will walk you through every step-from meeting eligibility requirements to passing the licensing exam and starting your career in Ohio’s competitive real estate market.
Step 1: Meet Ohio’s Eligibility Requirements
Before venturing into the real estate licensing process, you must first meet the minimum eligibility requirements as outlined by the Ohio Division of Real Estate & Professional Licensing (ODRE). Below are the fairly simple but vital prerequisites that you have to fulfill prior to initiating the processing with ODRE.
1. Age: You need to be a minimum of 18 years old.
2. Legal Residency: You must be a U.S. citizen or a legal resident of the United States, and legally authorized to work.
3. Criminal History: Ohio law requires all applicants to answer questions concerning any criminal convictions. The fact that you have been convicted of certain types of criminal offenses, such as fraud or felony convictions, could be a basis for denial of your application for licensure. You may be able to apply depending upon the nature and time of the offense. You will be required to undergo a background check as part of this application process.
4. High School Diploma or Equivalent: You need to at least have a high school diploma or a General Equivalency Diploma (GED).
When you’ve confirmed that you meet the above basic requirements, you proceed to undertake the licensing process.
Step 2: Complete the Pre-Licensing Education
The next step toward licensure as an Ohio real estate agent involves a requirement for a 120-hour pre-licensing education course, prescribed by the Ohio Division of Real Estate & Professional Licensing to be taken through one of the many approved providers.
What You Will Learn
Pre-licensing coursework covers a wide array of required topics that will equip you with the knowledge to be successful in the real estate business. Some of the key areas of concentration are outlined below:
– Real Estate Principles: Foundational issues in real estate transactions, including but not limited to property types, financing, contract, and ownership.
– Ohio Real Estate Law: Providing an overview of Ohio’s real estate laws and regulations, covering such topics as agency law, disclosure, and fair housing laws.
Property Valuation and Appraisal: valuation of property, inspection of property, appraisers. Real Estate Financing: terms, principles, concepts of real estate financing, types of loans, role of lenders/lenders’ requirements. Ethics and Professional Conduct: The agent’s ethical responsibility – fiduciary relationship, confidentiality, professionalism. Leasing and Property Management: managing rental properties, landlord-tenant law, lease agreements.
Where to Take the Course
Pre-licensing education for Ohio real estate agents is available through an accredited real estate school. Many of these schools will offer classes both in the traditional classroom format, face-to-face, and online to allow you to complete the class in which way best works into your schedule. First make sure the school you decide on is accepted by the Ohio Division of Real Estate and Professional Licensing, ODRE so the class will meet the state’s standards for licensure.
Step 3: Take the Ohio Licensing Exam
After having completed your pre-licensing education, the next step will be sitting and passing the Ohio Real Estate Salesperson Examination. This is the final step before application into a license.
Exam Details
The Ohio Real Estate Salesperson Examination consists of two sections:
– National Portion: tests your general knowledge in areas of real estate principles, practices, and national laws.
– State Portion: This portion deals with Ohio-specific real estate laws and regulations.
Format: The test is computer-based, consisting of 120 multiple-choice questions; 80 are nationally based, and 40 deal with state specifics. The allowed time to take the test is 4 hours in total.
– Passing Score: You must achieve a score of 70% or higher on both the national and state portions of the exam in order to pass.
– Exam Fee: The examination fee is usually in the tune of about $50.
Ohio Real Estate Exam: Your exam is administered by Pearson VUE, and you need to schedule the exam through their website. The student is highly encouraged to go through your course materials and practice exams before sitting for the test.
Not to worry if you happen not to pass the exam the first time around. You can take the exam again, but you will have to wait at least 24 hours before you reschedule. You can also retake just the portion of the exam that you failed in.
Step 4: Application Submission for a License to Sell Real Estate
When you pass the Ohio Real Estate Salesperson Exam, the next step will be an application to the Ohio Division of Real Estate & Professional Licensing (ODRE). This is your final stage towards obtaining a license as a real estate agent in Ohio.
What You Need to Apply:
Proof of Education: Attach a copy of your pre-licensing education certificate.
– Passing Exam Proof: Attach the passing grade in the Ohio Real Estate Salesperson Exam.
– Background Check: You must undergo a criminal background check. Ohio requires fingerprinting through the Ohio Bureau of Criminal Identification and Investigation or via the FBI.
– Application Fee: You should pay an approximate application fee of $60 for the real estate salesperson license.
Once your application is processed through ODRE and your background check is complete, you will be issued your license. Normally this may take weeks to process, so you are expected to follow up if required.
Step 5: Find a Sponsoring Broker
In Ohio, an agent in real estate must work under the auspices of a licensed real estate broker. You, as a new agent, cannot operate independently until you gain experience and complete the requirements to become a broker; this generally includes additional education and experience.
First things first: to begin your practice as an agent, you will have to find yourself a sponsoring broker. A broker will be able to help you through the early stages of your career and provide resources necessary for you to conduct a successful career.
How to Choose a Sponsoring Broker:
Training and Mentorship: The broker should provide you with mentorship and further training, especially if you are a new agent.
– Commission Split: Commission split may be offered by the broker, ranging with your experience and their policy. They offer an increasing commission split with experience. New agents tend to have a low commission split, but it grows as they develop their careers.
– Reputation: Broker reputation and client base will have a great effect on your lead generation and success in the business of real estate. Research before joining, so that you start working with a reputable firm.
– Support and Resources: Choose a broker that will provide resources relevant to the job, marketing materials, and a nurturing environment for recent agents.
Step 6: Complete any Post-Licensing Education
In Ohio, the new agents are required to obtain post-licensing education. You need to fulfill 20 hours of continuing education in the first two years of licensure. This education helps you in upgrading your knowledge about the various practices of real estate and the amendments to the Ohio real estate laws.
Classes typically cover current real estate practices, risk management, and Ohio legal updates. These classes are provided by Ohio-approved real estate schools.
Step 7: License Renewal
Ohio real estate licenses are renewed every three years. In each renewal period, you must complete 30 hours of continuing education to renew your license. Such courses keep you updated on the most recent trends, regulations, and best practices within the real estate industry.
There is also a license renewal fee, which is approximately $50 to $60. File your renewal application well in advance of the expiration date of your license so that there are no penalties or glitches when you continue practicing as a real estate agent.
Step 8: Start Your Career as a Real Estate Agent
Now that you have completed all the steps and have your license, it’s time to get started with your real estate career in Ohio. Following are some of the ways you can build a great career in the field of real estate:
– Network: Relations with other agents, brokers, lenders, or other professionals involved in related industries may lead to new collaboration opportunities and referrals.
– Market Yourself: It is very important to market yourself on the web, social media, professional website, and other websites such as Zillow or Realtor.com.
– Keep Learning: Attend industry events, seminars, and webinars that give you added knowledge and keep you in the know about the market.
– Give Them Good Service: One definitely sure method is that of giving them very good service. Communicate well; be professional, and take proactive steps towards the needs of the clients.
Conclusion
The path to an Ohio real estate agent licensure is one that must be taken in steps: education, examinations, and support by mentors who can provide valuable experience. From these steps, one could continue to devote energy to learning and professional growth in building a successful and rewarding real estate career.
Since Ohio’s diversified housing market caters to the growth of the state’s economy, real estate opens a wide perspective for serious agents. Whether this means selling the first home to prospective homebuyers, managing investment properties, or the commercial segment of realty, Ohio offers a very engaged market in which a new agent is thrust.
