If you’re looking to get into the bustling real estate markets in cities like Indianapolis or Fort Wayne, you’ll want to learn how to get your real estate license in Indiana. With the fourth-best housing market in the country this year, Indiana is a great place to start your real estate career.
You only need to be over 18 and hold a high school diploma to qualify to get your Indiana real estate license. To help you get started, we’ve researched every detail of the process so you can get started right away.
How to Get a Real Estate License in Indiana
- Complete a prelicensing course and exam
- Pass the license exam
- Join an Indiana real estate brokerage
- Apply for a license
First, note that real estate agents in Indiana are referred to as real estate brokers. Meanwhile, brokers with additional education who can oversee new brokers are called managing brokers.
Let’s jump into the details of each step, and before you know it you’ll be enjoying the flexibility and autonomy in a valuable career.
1. Complete a Prelicensing Course & Exam
Cost: $450-$600
Time commitment: 1-3 months
To get your real estate license in Indiana, you must complete 90 hours of prelicensing coursework and a course exam. Your course will cover all the subjects required by the Indiana Real Estate Commission, including real estate basics, law, finance, and brokerage operation.
At the end of your course, you’ll need to take a proctored final exam. You’ll be able to complete the course exam conveniently from home with a virtual proctor. Most Indiana real estate schools have access to exam proctors or include proctoring as part of their course packages.
You’ll be able to choose whether you want to take your prelicensing course in an online or in-person format. If you’re looking for an online real estate school, we highly recommend looking through The CE Shop’s comprehensive packages. They manage to keep their prices affordable without skimping on perks like exam prep, instructor support, and extra resources to get you started as a new agent.
Readers of The Close can SAVE 30% on any The CE Shop prelicensing course in Indiana. Just use promo code TheClose30 at checkout.
5 Best Indiana Real Estate Schools for 2023
2. Pass the Indiana Real Estate License Exam
Now, it’s time to take your license exam, and we’ve broken down everything you need to know.
Quick Facts: Indiana Real Estate Exam
Cost:
$53
Time to Complete:
4 Hours (Arrive 30 Minutes Early)
Format:
125 Multiple-choice Questions
What to Bring:
2 Pieces of ID and a Non-programmable Calculator
Passing Grade:
75%
In Indiana, you’ll have the choice of taking your exam in person or online. Choose from one of 22 PSI Testing Center locations across Indiana, or opt for an online exam with a virtual proctor from the comfort of home. Start by visiting PSI Testing to schedule your exam and pay your fee.
Arrive at the PSI Testing examination site or sign in to your online exam at least 30 minutes before your exam is scheduled. This allows time to check your ID and familiarize yourself with the exam instructions. Remember to bring:
- Two forms of valid ID (one must be a government-issued photo ID with a signature and the other must have your signature)
- A non-programmable, silent calculator (optional)
What’s on the Exam?
You’ll be tested on both state and national topics on your license exam. All questions are multiple-choice, and you’ll have four hours to finish. Take a look at the breakdown of the exam below.
| Exam | Time Limit | Number of Questions | Requirement to Pass |
|---|---|---|---|
| National Section of the Exam | 150 minutes | 75 multiple-choice questions (80 points) | At least 60 points are required to pass |
| Indiana Section of the Exam | 90 minutes | 50 multiple-choice questions (50 points) | At least 38/50 correct answers are required to pass |
Preparing for the Exam
All that’s left before you take your license exam is to ensure you’re prepared. Start by reviewing your course material, and consider investing in a quality exam prep package to boost your confidence. With targeted practice questions, flashcards, and study aids, exam prep can make the difference in ensuring you pass your exam on your first try.
Free Real Estate Practice Exam + 7 Hacks to Help You Ace Your Real Estate Exam
3. Join an Indiana Real Estate Brokerage
Cost: None
Time commitment: 2-4 weeks
In Indiana, you must be associated with a managing broker before you can obtain your real estate license. Your managing broker is an experienced real estate professional that will oversee you as you begin working as part of a brokerage.
To get started, you’ll find the local brokerages in the city where you’d like to work and begin contacting them. Let them know where you are in the licensing process since managing brokers will be looking to add more staff to their growing brokerages.
As a new real estate broker, you’ll be focused on familiarizing yourself with the industry and committing yourself to excellent customer service. With dedication, you can build a lucrative and meaningful real estate career.
What’s the Best Real Estate Company to Work for?
4. Apply for an Indiana Real Estate License
Cost: $60
Time commitment: 30-60 minutes and 4-6 weeks for processing
You’ve almost made it! It’s time to apply for your real estate license after all your hard work. You can apply for your Indiana real estate license online or by mail with the Indiana Professional Licensing Agency. To apply:
- Visit the MyLicense Indiana portal
- Create an account
- Complete the broker license application
- Pay your $60 license fee
The real estate license application is relatively simple and straightforward to complete. You’ll include your personal information, including your social security number. In addition, you’ll include your managing broker’s information to prove that you are affiliated with an Indiana brokerage.
The Indiana Real Estate Commission says to allow four to six weeks to process your real estate license application. Once your license has been approved, you’ll be notified by email, or you can check the status of your license application on your MyLicense account.
How Much Does It Cost to Get a Real Estate License in Indiana?
Indiana Real Estate Governing Board:
Indiana Real Estate Commission
Prelicensing Requirements:
90 Hours
Price Range for Prelicensing Courses:
$450 – $600
Total Estimated Cost:
$600 – $700
It costs about $650 to get your real estate license in Indiana. Some costs are fixed, like your exam fee and license fee. Meanwhile, the cost of your 90-hour prelicensing course takes up the bulk of the budget. How much you spend on your prelicensing course will vary depending on the package option you choose. Take a look at the breakdown of costs below.
Indiana Real Estate License Costs
| Prelicensing Classes (90 Hours) | $549 (with The CE Shop) |
| Indiana Real Estate License Exam Fee | $53 |
| Indiana Real Estate License Application | $60 |
| Total Cost | $662 |
Choosing an Indiana Real Estate School
How you take your prelicensing course is up to you, whether it’s online, via livestream, or in-person. Scheduled classes are great for anyone who needs a push to be kept on track, while self-paced courses are perfect to accommodate your schedule.
| Types of Instruction | Pros | Cons |
|---|---|---|
| In-person Classes |
|
|
| Livestream Classes |
|
|
| Online Classes |
|
|
We recommend The CE Shop as our top pick for best online real estate school in Indiana. As a trusted real estate school, they pack their course options with useful tools while keeping their prices low. They’re also the only online real estate school that offers a free trial, so you can try the course before you buy.
How to Get Your Real Estate License in Indiana: FAQs
We have even more answers to your frequently asked questions below. If you don’t see what you’re looking for, let us know in the comment section!
Can I get my Indiana real estate license online?
Yes; you can complete every step of the Indiana real estate licensing process online. To become a real estate broker in Indiana, start by enrolling in an online real estate school to complete your 90-hour prelicensing course. Then, take the license exam by virtual proctoring through PSI Testing. Finally, apply for your license via the Indiana Professional Licensing Agency’s MyLicense online portal.
How long does it take to get a real estate license in Indiana?
On average, it takes between one and three months to get your Indiana real estate license. The two steps that take the longest are completing the 90-hour prelicensing course and the processing time for your license (about four to six weeks).
You can speed up how quickly you complete your prelicensing class by opting for a self-paced course, but you’ll need a good work ethic and a study schedule you can commit to. We recommend taking at least three weeks to work through your course so you retain what’s important.
What if I'm already licensed in another state?
Indiana does not have a reciprocity agreement with any other states. However, the Indiana Professional Licensing Agency encourages applicants to contact the Indiana Real Estate Commission to request reciprocity in case new agreements emerge. To contact the IREC, call 317-232-2960.
How much does a real estate broker make in Indiana?
As of 2022, the average income for an Indiana real estate broker is $75,175. Be sure to remember that in a commission-based career, there is virtually no limit to your potential income as a real estate broker. With hard work and commitment, you can build a lucrative real estate career in Indiana.
Where should I start my real estate career in Indiana?
If you’re looking to move around the state to follow the real estate market, you might consider two of Indiana’s most populous cities: Indianapolis and Fort Wayne. As populations continue to grow, the housing market will follow, allowing you to build a real estate career in a vibrant city.
However, that isn’t to say you can’t make a lucrative career in Bloomington or Evansville. If a particular real estate niche interests you, find out where you’ll find the most success in your given area.
More Career Resources From The Close
We can’t wait to celebrate your success in real estate, and we wish you continued growth for your future. At The Close, we’re also dedicated to providing you with actionable advice for every stage of your career.
Sign up for our newsletter to keep the articles coming straight to your inbox. Better yet, join our Facebook Mastermind Group to connect with agents nationwide, or upgrade your skills and join The Close Pro.
Add comment