Hoping to get an Ohio real estate license and don’t have the foggiest idea of where to begin? Between all the training and applications needed to become an agent, the journey can appear to be overwhelming. No need to stress, we are here to prepare you for it all.
Whether you know someone who has succeeded in real estate, have always been interested in it, or are just starting out, the process is the same for everyone. In this article, we are giving you all the tips and tricks you need to become a real estate agent in Ohio.
There are quite a few steps to becoming an Ohio real estate agent, so follow along and we will let you know exactly what to expect from each one.
The Real Estate Market in Ohio
Columbus has been one of the hottest real estate markets in the country for years. At the moment, this market is very much skewed to sellers, making it a competitive market to be in. However, due to its large population and consistent growth, the Columbus housing market is the healthiest compared to Cleveland, Detroit, and smaller Ohio cities.
To be truly successful in the competitive Ohio real estate market, you have got to be hard-working, self-motivated, honest, and enjoy helping people. If you check all of those boxes, then it may be time to follow the steps below and start your Ohio real estate journey.
Benefits of getting into Ohio Real Estate
The first benefit is a quite obvious one — the income. According to salary.com, a real estate sales agent in Ohio averages $41,000 to $53,000 per year. These numbers will fluctuate based on commission percentage, number of homes sold, the split with your broker, if you have any caps, and the value of the homes.
For further insight, the average price for a home in Ohio is around $165,000, which means when a real estate agent makes a sale, they have a solid commission — often 6% or $9,900.
Aside from gaining a good amount of income, becoming a real estate agent has many other benefits, including:
- Flexibility in your work
- Constantly varying environments and tasks
- Helping people
- YOU are the boss
- Gaining knowledge and insight about people, your community, and your area
Now that you have an idea of what you are walking into, let’s get into the actionable steps that will have you on your way to thriving in the Ohio real estate market.
Do I Prequalify?
There are a couple of things to check on before you can start the process of becoming a real estate agent in Ohio. The overall requirements of obtaining an Ohio real estate license include the following:
- Be at least 18 years of age.
- Be a U.S. Citizen or legal alien.
- Hold a high school diploma or its equivalent if you were born after 1950.
- Be honest, truthful, and of good reputation.
- Not have been convicted of a felony or crime of moral turpitude.
- Not have violated any civil rights laws regarding real estate within the last two years.
Once you have those boxes checked, you are ready to begin the journey of becoming an Ohio real estate agent!
1. Complete 120 Hours of Pre-License Education
There are many registered real estate schools to choose from across Ohio. Pick whichever one calls to your heart, and complete 120 hours of real estate education courses. There are both in person and online options available for you.
The required courses are:
- Real Estate Principles and Practices (40 hours)
- Ohio Real Estate Law, including instruction in civil rights, housing discrimination and desegregation problems (40 hours)
- Real Estate Appraisal (20 hours)
- Real Estate Finance (20 hours)
2. Take and Pass the Course Final Exam
Congratulations! You have made it through your online or in-person classes and are now ready to show your Ohio real estate knowledge. There is a final exam for each of the individual courses. In order to pass each exam and earn your certificate, you must receive a passing score of at least 70% for each course.
Each final must be taken with a proctor present, which you can schedule in advance with whichever real estate school you take classes through.
3. Choose a Sponsoring Broker
In order to be a licensed and active practicing real estate agent in the beautiful state of Ohio, you are required to be associated with a registered brokerage firm or broker. Working with the right broker is an important decision and a key factor in your growing real estate career.
Here are some things to consider when selecting a sponsoring broker:
- What is their local and national reputation?
- What systems do they use?
- What types of agents are they looking for?
- Do they provide education and training for agents?
- Do they provide marketing materials and potential leads?
- What benefits do they have?
- What is their commission structure?
- Is there opportunity for growth?
Want to Become a REALTOR® in Ohio?
Every Realtor is a real estate agent, but not every real estate agent is a Realtor. Want to take your business a step further, have great networking opportunities, and be part of an evolving real estate community?
Here are your steps to becoming a REALTOR®:
- Obtain your state real estate license
- Join your local REALTORS® Association — The National Association of REALTORS® (NAR) has over 1,400 associations across the U.S. You can find one closest to you with their “find an association” tool.
- Pay the one-time application fee — The amount varies in each association.
- Upkeep NAR membership dues — Once you are a REALTOR®, you must pay the annual association fee of $150 per year.
4. Submit Your License Application
Your next step is to complete and submit your Ohio real estate license application to the Ohio Division of Real Estate & Professional Licensing.
Here is everything you need to send in when applying:
- Completed application, which you can find here
- $81 application fee
- Official transcripts or certificate of education completion
Once the division approves your application, you will receive information about scheduling your final Ohio Real Estate Salesperson Exam.
5. Pass the Ohio Real Estate Exam
You heard us, another exam. Don’t worry, we are here to prepare you so you know exactly what to expect.
The Ohio Real Estate Salesperson Examination is administered by PSI, an outside agency. Once your application is approved and you receive the information bulletin, you can schedule your exam appointment online, by telephone at 800-733-9267, or by mail. There is a $61 exam fee.
On the day of your Ohio real estate exam, bring the following:
- Two (2) forms of identification
Once inside the exam site, you’ll be asked to place all electronic devices, bulky clothing, and other personal items in a secure location, and you will be asked to sit in front of a computer to take the test.
You will have 3 hours to complete the 120-question exam. The exam is split into two portions: an 80-question national portion with a 120-minute time-frame and a 40-question state potion with a 60-minute time frame.
Some topics covered in the exam include the following:
- Property ownership
- Land use controls and regulations
- Leasing and Property Management
- Transfer of Title
- Licensing Requirements
You must receive at least a 70% to become an Ohio real estate salesperson, and the score will immediately be given to you once you complete the exam. If you do not pass, you will have an opportunity to schedule to take the exam again.
For more information on the Ohio Real Estate Salesperson Exam, you can view the PSI Candidate Bulletin.
There you have it! Everything you need to know about joining the exciting world of Ohio real estate.
Now that we have taken you this far, we would love to provide you with more resources and information to help you thrive in this new venture. Get the ball rolling and be the best agent you can be with our Showcase IDX Grow Your Real Estate Business Academy courses.