Are you considering a career in real estate? Does a flexible schedule, being your own boss, and earning a great income appeal to you? If you live in Oregon, the good news is that you can obtain your Oregon real estate license in just a few simple steps.
There are two basic prerequisites for becoming a real estate agent in Oregon. You must:
- Be at least 18 years old
- Have a high school diploma or GED
If you meet these basic requirements, here are the steps you’ll need to follow to earn your real estate license, which is called a broker’s license in Oregon.
In most states, a real estate broker is a professional who oversees the work of other real estate agents. Typically, a real estate agent only becomes a broker after attaining a minimum level of experience, taking additional training, and passing a higher-level licensing exam. In Oregon, this more experienced professional who manages other agents is called a principal broker.
In this article, you’ll learn how to pursue an entry-level real estate broker’s license. Here are the steps you’ll need to take to earn your Oregon real estate license and begin your new career.
How to Get an Oregon Real Estate License
1. Create an eLicense Account
Before you can enroll in real estate classes, you need to create an eLicense account with the state. You’ll need to provide some personal information such as your address and contact information.
2. Apply for a Broker’s License
Fill out the real estate broker application through your eLicense account and pay the nonrefundable $300 fee. Once your request has been processed, the Oregon Real Estate Agency will email you an applicant ID number. You’ll need this number to sign up for prelicensing classes.
3. Complete a 150-hour Prelicensing Course
As a broker, you’ll be helping clients with one of the most important financial decisions of their lives. Understandably, the state of Oregon takes real estate education seriously. To earn your Oregon real estate license, you’ll need to complete a 150-hour prelicensing program from an approved real estate school. The 150 hours of classes cover all the contractual and legal aspects of buying and selling properties. Courses are offered in a classroom, via livestream, or in an at-your-own-pace online format. Learn more about the types of instruction below.
We chose The CE Shop as one of our favorites in our list of the best Oregon real estate schools. The company offers its Exam Prep Edge materials plus a Pass Guarantee in three of its four prelicensing packages. Even its most basic package includes features that will not only help you pass the licensing exam, but also provide career resources to help launch your new profession.
Readers of The Close can save 35% on any of The CE Shop’s prelicensing and business-building courses. Use promo code TheClose35 at checkout.
4 Best Oregon Real Estate Schools for 2023
4. Pass the Oregon Real Estate License Exam
Cost
$75
Time to Complete
4 Hours
Format
Computer-based, 130 multiple-choice questions
Bring to Testing Center
One valid government photo ID
Passing Grade
75%
Once you’ve completed the 150 hours of coursework, you’ll be qualified to schedule and take the Oregon real estate broker exam. The exam is administered through PSI in cooperation with the Oregon Real Estate Agency. You’ll pay a $75 fee for the exam when you schedule your exam online.
PSI has seven testing locations in Oregon, but you can also opt to take the Oregon real estate license exam from the comfort of your own home. Online, proctored exams are permitted if your computer meets compatibility requirements such as adequate lighting and stable internet connection. You’ll need to situate a webcam so that the proctor has an unobstructed view of your test space. Otherwise, you can take the exam in person in:
- Baker City
- Bend
- Eugene
- Independence
- Medford
- Portland
- Wilsonville
You’ll need to bring one form of valid, government-issued photo identification to the in-person testing center. The exam is multiple choice and consists of 80 national questions and 50 Oregon-specific questions. Be sure to download the candidate information packet from PSI’s website to learn about common items you’re prohibited from bringing to the exam room, such as pens and cell phones.
Once you’ve finished taking the exam, your grade will be displayed on the screen at the end of the session. You can retake the broker exam if you fail it the first time, but you’ll need to wait at least a day to schedule subsequent attempts.
You’ll need at least a week to study for the exam. To help you prepare for the Oregon real estate license exam and pass it on the first try, we recommend investing in quality exam prep materials.
Free Real Estate Practice Exam + 7 Hacks to Help You Ace Your Real Estate Exam
5. Get Fingerprinted
You’ll be fingerprinted as part of the process at the PSI testing center as soon as you pass the brokerage exam. Fingerprint processing may take up to four weeks.
6. Submit to a Background Check
You must submit to a background check before you can work as a real estate broker in Oregon. You’ll be unable to work as a real estate agent until you’re notified by the state licensing board that you passed the background check. You’ll pay $61.25 for the fingerprinting and background check fees.
While waiting for your background check results, consider taking business-building courses through The CE Shop. Their three professional development course offerings can help you jump-start your new career by teaching you about real estate marketing, developing leads, and the day-to-day operations of your real estate business in Oregon.
Readers of The Close can save 35% on any of The CE Shop’s prelicensing and business-building courses. Use promo code TheClose35 at checkout.
7. Find a Principal Broker to Hire You
Oregon real estate brokers must work under a principal broker who’s taken additional coursework and passed a supplementary exam to manage Oregon real estate brokers.
Start your search with the big-name real estate agencies in your city or town to find a principal broker. But don’t ignore the smaller brokerages, as they may offer new real estate professionals more one-on-one guidance and training.
What’s the Best Real Estate Company to Work For?
Oregon Real Estate Governing Body:
Oregon Real Estate Agency
Prelicensing Requirements:
150 Hours
Continuing Education Requirements:
30 Hours
Price Range for Real Estate Licensing Course:
$329 to $429
How Much Does It Cost to Get an Oregon Real Estate License?
It costs around $1,000 to get your real estate license in Oregon. While some costs are fixed, such as the state’s application, exam fee, and fingerprint fee, others can vary greatly, including the price of your prelicensing education, which ranges from $289 to $819 depending on the provider you choose.
Sample Oregon Real Estate License Costs
| Prelicensing Classes, Including Exam Prep (150 Hours) | $475 (through The CE Shop) |
| Oregon Broker Real Estate License Exam Fee | $75 |
| License Fee | $300 |
| Fingerprinting Fee | $61.25 |
| Total Cost | $911.25 |
(Oregon real estate license costs as of April 2023)
Types of Real Estate Prelicensing Classes
Whether you live in Salem, Eugene, or the Portland area, you should be able to find an Oregon real estate school that offers in-person classes that meet during regularly scheduled sessions. Livestream classes are scheduled sessions broadcast over Zoom or other video conferencing tools. Online, at-your-own-pace classes are popular for those wanting to become real estate agents quickly in Oregon. The course material may be presented in a series of slides, videos, and interactive content.
There are pros and cons for each type of instruction.
| Types of Instruction | Pros | Cons |
|---|---|---|
| In-person Classes |
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| Livestream Classes |
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| Online Classes |
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How Much Money Does a Realtor Make in Oregon?
As of this writing, Indeed indicates that Oregon real estate brokers make an average annual income of $91,631. While getting paid as a commissioned salesperson is different from salaried roles you might be used to, the benefit of commissioned sales is that it rewards people who work hard and provide excellent customer service to their clients. However, some Oregon real estate brokers prefer to ease their way into their new profession by working part time instead of jumping in with both feet.
Can You Be a Part-time Real Estate Agent? (+ Free Guide & Videos)
We recommend inquiring about several important topics with any principal broker you’re looking to work with, as these questions will impact your financial bottom line. Ask about your split, which refers to how you’ll share the commissions you earn. For example, some brokerages will ask for an even 50-50 split on commissions. Some brokerages will offer you a higher percentage for your split, but they may charge you a monthly desk fee.
You should also ask about your cap, the maximum amount that a brokerage will take from your commissions within a calendar year. Once you’ve met your cap, the rest of your commissions will be entirely yours to keep. Negotiating a low cap will mean more commissions will end up in your bank account.
How to Get an Oregon Real Estate License: FAQs
We’ve covered a lot of information in this article, but you may have a few more questions. Don’t worry—as a team of licensed real estate experts, we’ve got answers.
What is the average cost of a home in Oregon?
According to Zillow, the average value of an Oregon home is at $485,475, which has decreased slightly over the past year. Home values in cities such as Portland are higher, at $539,179. And to give you an idea about your earning potential as an Oregon real estate broker, we pulled together a list of average home prices in various cities in Oregon:
Average Oregon Home Prices by Region & Typical Commissions per Sale
| Region | Average Home Price | Typical 3% Commission |
|---|---|---|
| Portland | $539,179 | $16,175 |
| Salem | $414,613 | $12,438 |
| Eugene | $464,521 | $13,936 |
| Bend | $674,471 | $20,234 |
| Medford | $396,691 | $11,901 |
| Klamath Falls | $282,670 | $8,480 |
(Source: Zillow Home Values, March 2023)
How long does it take to get a real estate broker license in Oregon?
It takes around four to six months to become a real estate broker in Oregon. The actual time varies on how many hours per week you can dedicate to the process. Some schools offer in-person classes and have accelerated sessions that cover the material in 10 weeks.
Of course, you also need to consider how long you’ll need to study for the test and how long it will take for the Oregon Real Estate Agency to process your background check.
Is the Oregon real estate exam hard?
The national part of the broker exam has 80 questions, and the state-specific part of the exam has 50 questions. All of the questions are multiple-choice. To pass the test, you must receive a 75% or higher.
If you don’t pass the exam, you’ll receive a diagnostic report indicating your strengths and weaknesses on particular subject matters. You can use this information to help you study before retaking the exam.
What if I have a real estate license from another state?
Oregon has reciprocity with the following states and Canadian provinces:
- Alabama
- Alberta
- Georgia
- Nebraska
- South Dakota
There’s also special consideration given to the spouses and domestic partners of the members of the armed forces. To learn more about those agreements, visit the out-of-state licensee page on the Oregon Real Estate Agency website.
On the other hand, if you have your real estate license in Oregon, you can work as an agent in one of these states without going through the entire licensing process:
- Alabama
- Alaska
- Colorado
- Delaware
- Georgia
- Idaho
- Kansas
- Kentucky
- Maine
- Missouri
- Nebraska
- Nevada
- North Carolina
- Virginia
- Washington
Can I use my California real estate license in Oregon?
The short answer to this question is “no,” you can’t use your California real estate license in Oregon.
However, an out-of-state real estate agent can perform work on a “nonresidential real estate” transaction (defined as property that has or could have commercial use or a property with five or more residential units) in Oregon if the out-of-state real estate agent enters into a written cooperative agreement with an Oregon licensee.
Related article: Real Estate License Reciprocity & Portability: A State-by-State Guide
Can I get my Oregon real estate license online?
You can complete almost all of the Oregon real estate license requirements from the comfort of your own home. Here’s how it works. Enroll in online prelicensing courses, then sign up for a remote, online proctored exam with PSI. You’ll have to go to a testing location to be fingerprinted, but you can complete the exam and apply for the license at home. You can probably even arrange to meet with potential principle brokers via livestream.
More Career Resources From The Close
Now that you’ve learned how to become a real estate agent in Oregon, you may have more questions. Drop them in the comments section below.
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