Have you been 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 five simple steps.
There are two basic prerequisites for becoming a real estate agent in Oregon:
- 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 Oregon real estate license, which is called a broker’s license:
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 $329 to $429 depending on the provider you choose.
Oregon Real Estate License Costs
|Prelicensing Classes, Including Exam Prep (150 Hours)||$489 (through Mbition)|
|Oregon Broker Real Estate License Exam Fee||$75|
(*Oregon Real Estate License Costs as of July 2021)
How to Get an Oregon Real Estate License in 5 Easy Steps
In most states, a real estate broker is a professional who oversees the work of other real estate agents. In Oregon, that’s not the case.
Typically, a real estate agent becomes a broker after a minimum level of experience and following additional training. In most states, a broker has passed a higher-level licensing exam. In Oregon, a more experienced professional who manages other agents is called a principal broker.
As you follow the steps laid out here, you’ll be pursuing an entry-level Oregon real estate license, called a broker’s license. Here are the steps you’ll need to take to earn your Oregon real estate license and begin your new career.
Step 1. Create an eLicense Account & Apply for a Broker’s License
Time commitment: One hour
Before you can enroll in real estate classes, you need to create an eLicense account with the state.
Fill out the real estate broker application through your eLicense account and pay the $300 fee. Once your request has been processed, you’ll receive an applicant ID number by email. You’ll need this number to sign up for prelicensing classes.
Step 2. Complete a 150-Hour Prelicensing Course
Cost: $329 to $429
Time commitment: One to three months
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, over livestream, or at-your-own-pace online.
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 meeting during regularly scheduled sessions. Livestream classes are scheduled classes that are broadcast over Zoom or other video conferencing tools. Online classes are popular for those wanting to become real estate agents 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|
We recommend Mbition if you’re looking for a budget-friendly, online real estate prelicensing package and test prep materials to help you pass the Oregon real estate broker exam. We chose Mbition as the best overall provider in our review of Oregon real estate schools. Why? Their program provides clear, concise instruction and presents complicated material in an easy-to-follow format.
Step 3. Pass the Oregon Real Estate License Exam
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 be charged 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. Otherwise, you can take the exam in person in:
- Baker City
You’ll need to bring two pieces of valid, government-issued photo identification to the in-person testing center. The exam is multiple choice and is comprised of 80 national questions and 50 Oregon-specific questions. Be sure to download the candidate information packet from their 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 online exam at one of the testing centers listed above, 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 any subsequent attempts.
You’ll need about a week or more 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 to help you study.
Additional test prep materials are available from Mbition using their Oregon Master Exam Prep Package. Mbition’s adaptive learning technology develops a personalized study plan, so you can use your study time efficiently and focus on areas where you need more work.
[Related article: 7 Hacks for the Real Estate Practice Exam]
Step 4. Get Fingerprinted & Submit to a Background Check
Time commitment: One month
Helpful resource: PSI Candidate Information Bulletin
You must pass a background check before you can work as a real estate broker in Oregon. You’ll be fingerprinted as part of the process at the PSI testing center as soon as you pass the brokerage exam.
Be prepared to pay $56.25 for the fingerprinting and background check fees.
Fingerprint processing may take up to four weeks. 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.
While waiting for your background check to be completed, consider taking business-building courses through The CE Shop. Their three business accelerator course offerings can help you jumpstart 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 30% on any of The CE Shop’s prelicensing and business-building courses. Use promo code TheClose30 at checkout.
Step 5. Find a Principal Broker to Hire You
Time commitment: Two to four weeks
Oregon real estate brokers must work under a principal broker. A principal broker undergoes additional coursework and must pass 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.
[Related article: What’s the Best Real Estate Company to Work for in 2021?]
We recommend inquiring about several important topics with any principal broker you’re looking to work with, as these questions will impact your 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 earned will be entirely yours to keep. Negotiating a low cap will mean more commissions will end up in your bank account.
While getting paid as a commissioned salesperson may feel odd to you at first, the benefit of commissioned sales is that it rewards people who work hard and provide excellent customer service to their clients. 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.
[Related article: Can You Be a Part-time Real Estate Agent]
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.
How much does a realtor in Oregon make?
According to Indeed, real estate brokers make an average of $92,806 per year.
Oregon real estate brokers are only paid when they earn a commission after a sale. To help you figure out your earning potential as an Oregon real estate broker, we pulled together a list of median home prices in various cities in Oregon
Median Oregon Home Prices by Region & Typical Commissions per Sale
|Region||Median Home Price||Typical 3% Commission|
(Source: Zillow Home Values, July 2021)
How long does it take to get a real estate broker in Oregon?
It takes from 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 companies 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.
How much does it cost to get a real estate license in Oregon?
It costs around $1,000 to get your real estate license in Oregon. Some of these costs are fixed, such as the application, exam, and fingerprint fees. The cost of your prelicensing course varies depending on which provider you choose.
To save money, check out the promo codes throughout this article for online Oregon real estate schools. For example, our readers can save 30% on any of The CE Shop’s Oregon prelicensing courses by using promo code TheClose30 at checkout.
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.
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 development 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)
What if I have a real estate license from another state?
Oregon has reciprocity with the following states and Canadian provinces:
- South Dakota
There’s also special consideration given to the spouses and domestic partners of the members of our 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:
- North Carolina
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 your prelicensing courses through Mbition.
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 test at home.
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 any questions in the comments section below.
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