Thinking about getting into real estate?
Don’t know where to begin?
Then you’ve come to the right place!
Today, we’re going to go through a complete 2023 guide on how to get a real estate license online in Oregon.
We won’t leave anything out, so that you know exactly what to do, when to do it, and how to do it.
Oh, and we’ll even include an FAQ section at the end.
So shall we?
Note: to make things less confusing, you should know that real estate agents in Oregon are referred to as real estate brokers. While real estate brokers are called principal brokers.
Who Can Get a Real Estate License in Oregon?
Anybody can become a real estate agent!
Really, it’s so simple to be eligible for a license. You only need to fulfill these:
- Be at least 18 years old
- Have a high school diploma, GED, OR international equivalent
- Be a US citizen OR legal alien
We’re not kidding.
How to Get a Real Estate License Online in Oregon?
As for getting your real estate license, you’ll have to complete these steps:
- Apply for a broker license with OREA’s online system
- Complete 150 hours of real estate pre-licensing courses approved by the OREA
- Apply for the Oregon Real Estate Exam
- Pass the Oregon Real Estate Exam
- Get a background check
- Find a sponsoring principal broker
Let’s discuss each step in more detail.
Step 1: Apply for a Broker License
The OREA has made it SUPER easy to apply for a license thanks to their eLicensing online system.
All you need to do is go to the eLicensing website, register (or log in if you already have an account), apply for a broker license, and pay the application fee of $300.
Once your application has been processed, you will be sent an Applicant ID number through email. Make sure you keep that number as you’ll need it for step 2.
One thing you should know. It can take a while before your application is processed. During this time, you can begin step 2.
Step 2. Complete a Real Estate Pre-Licensing Course
You can take your real estate pre-licensing course online, too.
Just make sure the school you select is OREA-approved. If not, it won’t be able to satisfy state requirements.
If you’re looking for a legit, approved, and high-quality online real estate school, we recommend The CE Shop.
You can complete all the required 150 hours here. Plus, the lessons encourage interaction, so you won’t find yourself zoning out.
On top of that, they offer a lot of resources, as well as an Exam Prep Edge program. This program will help you get ready and build confidence for the Oregon Real Estate Exam (which is going to be your next step).
Here is a summary of all the packages The CE Shop offers:
|150 Hours of OR Pre-Licensing
|Exam Prep Edge – National & Oregon
|Building Business Courses
|30-Hr. OR Post-Licensing Package
|Business Ebooks Written by the Experts
|Real Estate Glossary
And if you like helping out, you can even donate a few $ to The CE Shop’s charity to eliminate child hunger.
IMPORTANT! When you pick a real estate school, make sure to give them your full name, as well as your Applicant ID number. You’ll see why this is important in the next step.
Step 3. Apply for the Oregon Real Estate Exam
Once you complete the course, your OREA-approved real estate school will notify the PSI that you are eligible to take the Oregon Real Estate Exam.
On your part, you will still need to apply for the exam.
To do this, follow these steps:
- Go to the PSI website
- Create an account (if you don’t already have one)
- Select an examination (in your case, the OR Real Estate Broker - Ready to Register)
- Enter your personal information (including SSN, first and last name…)
- Pay the exam fee of $75 through Credit Card, Visa, MasterCard, American Express, etc.
- Choose whether you want to take the exam at a testing center or through a remote online proctored exam
- For the testing center, simply choose your location, date, and time
- For the remote online proctored exam, you first need to check your computer compatibility (audio/video check, webcam check, and system check). If it’s good, then select your preferred date and time to take the exam
And there you have it. You’re all set to take the Oregon Real Estate Exam.
What if you suddenly can’t make the date and need to reschedule?
If you don’t want to waste your exam fee, you must reschedule 2 days before your exam. You can do that through the PSI website or call them at (833) 892-5441.
Step 4. Pass the Oregon Real Estate Exam
If taking the exam in a testing center, you should arrive 30 minutes early and bring one form of identification (driver’s license, passport, state ID, etc.). You can also bring a non-programmable, silent, and battery-powered calculator. The same is true with remote proctoring.
Now, what can you expect from the Oregon Real Estate Exam?
In total, there are 130 questions.
80 for the national section and 50 for the state section.
As for the time limit, you have to complete the national section in 150 minutes (2.5hrs), while you’re only given 90 minutes (1.5hrs) for the state portion.
You need to score at least 75% on both sections to pass.
When you finish the exam, you’ll get your results straight away.
If you passed, your score report will be emailed to you.
What if you passed one section and failed the other? You’ll only need to retake the one you failed. However, you have to reschedule and pay another fee of $75.
It’s important to note that your score report will expire in 1 year. So make sure that you have your real estate license before that time (or else you’ll need to retake the exam again).
Step 5. Get a Background Check
The background check process actually starts in Step 1.
You might not have noticed it, but when you applied for the broker license, you were asked some questions related to a background check.
However, you must also undergo fingerprinting.
You’ll be happy to know that this is provided by the PSI at their testing centers. So after you pass the exam, you will be fingerprinted right away.
What if you took the remote proctoring? You’re allowed to get fingerprinted by the PSI before OR after the exam.
The fingerprinting fee costs $61.25. That is, $46.25 for the Oregon State Police fee and $15 for the PSI processing fee. Payment must be made through VISA, MasterCard, Company check, money order, or cashier’s check ONLY.
Your fingerprints will then be electronically sent to reviewing agencies. This may take up to 4 weeks.
What if you have a criminal record?
Are you no longer allowed to get a real estate license?
The OREA will review your record and decide whether or not you can get a license depending on the crime. If they want further information, they may contact you for more details and/or documents.
So the answer is it all depends on the OREA’s decision.
Step 6. Find a Sponsoring Principal Broker
While you wait for your fingerprints to be reviewed, you can begin looking for a sponsoring principal broker.
Remember, it’s very important to pick a principal broker that suits YOU.
For example, if you want to have your own work schedule, then you should find a principal broker that is flexible. Opposite to that, if you want a nine-to-five job, a principal broker that is strict with time is good for you.
Another thing you should look into is commission. What is the principal broker’s commission deal with his/her employees?
Here are other questions you can ask yourself when looking for a sponsoring principal broker:
- Do they have any fees?
- Is there a commission cap?
- Do they offer business cards, stand-alone websites, CE classes, support teams, etc?
- Do they have a mentor program?
Once you find your sponsoring principal broker, request him/her to add your pending license into their business. Here are the instructions for your principal broker to add you.
From there, the OREA will do a final review of your application. They will review your score report, your background check, and your principal broker.
If approved, you will receive an email that your real estate license has been issued.
You have successfully completed your real estate license requirements in Oregon!
Still have some questions?
Well, we’re answering the most frequently asked questions below.
How much does it cost to get your real estate license in Oregon?
You will need to pay around $800-$1,000 to get your real estate license in Oregon.
Here’s the cost breakdown:
Application fee - $300
Pre-licensing course - $300 to $600, depending on real estate school
Exam fee - $75 (additional $75 for exam retakes)
Fingerprinting - $61.25
Is the Oregon Real Estate Exam hard?
This exam is a knowledge test.
So the more you study and prepare for it, the easier it becomes.
These programs allow you to simulate the actual exam. Plus, they offer many other resources to help you pass the exam on the first try.
Is there a lot of math in the Oregon Real Estate Exam?
In the national portion of the exam, math takes up 10% of the questions. That’s around 8 questions on real estate calculations, basic math concepts, computations for transactions, rate of return, and valuation.
How long does it take to become a real estate agent in Oregon?
It takes around 6 months to get hold of your real estate license. Of course, you can get it sooner if you’re able to complete your requirements quickly.
But just note, your score report and background clearance are only valid for 1 year. So make sure you don’t delay too much.
How much does a real estate agent make in Oregon?
On average, a real estate agent in Oregon can make $95,000 per year. Of course, if you work even harder, then you can earn much more than that.
So there you have it.
Your complete 2023 guide to getting a real estate license online in Oregon.
Sure, it takes time, investment, and dedication. However, it will be all worth it when you get the reward of holding your real estate license in your hand.
Here’s a quick recap of all the steps:
- Apply for your broker license through the OREA’s eLicensing system
- Complete 150 hours of real estate pre-licensing courses from an approved school
- Apply for the Oregon Real Estate Exam through PSI’s website
- Pass the Oregon Real Estate Exam in a PSI testing center or through remote proctoring
- Get a background check that includes fingerprinting provided by the PSI
- Find a sponsoring principal broker and let them add your pending license to their business
If you’re interested, you should complete step 1 right now!
You already have all the information you need.