How Long Does It Take To Earn Your Indiana Real Estate License?
The average real estate agent in Indiana makes about $46,000 a year. If you’re thinking of becoming a realtor, it’s an exciting opportunity and challenge. The first thing many aspiring realtors wonder is “how long does it take to earn an Indiana real estate license?” This varies from state to state, of course, and varies based on your prior educational experience, so it’s never a perfect question to ask.
Still, we wanted to give you that information, at least in a general sense. Before you take the first in-person real estate qualification course, you find, you may also want to know how long the process takes. Read on to find out about obtaining an Indiana real estate license.
The First Steps
Before you can start the process of getting your Indiana Real Estate License, you must have a high school degree or a GED. You also must be 18 years or older. You can then start learning and earning your license.
You’ll need to invest in a Pre-licensing course. The course is a time commitment, as it is 90 hours of work.
It’s broken into three sections and you’ll be required to pass an exam at the end of each one. This course will be the building blocks of your career and you’ll learn everything from property laws to contracts to taxes and much more.
After you pass the pre-licensing course, you’ll have one year to take and pass the state exam. The state exam is broken into two parts. One is nationally specific and the other will contain questions about Indiana. Once you pass the final exam, you’ll submit an application to the Indiana Professional Licensing Agency.
How Long Is the Process?
One of the great things about becoming a licensed real estate agent is you can do it on your own time. The courses are online and you can do them at your own speed. If you want to take two weeks and get the course done, you can. However, if you have a busier schedule, you can take longer to complete it.
The final exam can be taken online or in person. If you choose to take it online, it will be proctored and you can’t use your notes or other resources. It can take a few weeks to get your final scheduled depending on availability.
As mentioned above, you have one year to pass the final exam after you’ve passed the pre-licensing course. Once you’ve successfully completed the final exam, you’ll have a year to apply and submit your scores.
When you’re trying to earn an Indiana Real Estate License, you’ll need to consider the cost. The courses and exam costs are an investment in your career and future.
The pre-licensing course is between $529 – %579 depending on the package you choose. Virtual and in-person students have the option to make payments or pay all at once. The State licensing exam fee is approximately $55 and the cost to activate your license is currently around $65.
It could cost you as much as $1,500 once you factor in other courses and fees. If you don’t pass the exams the first time, you’ll likely have to repay to take them.
When and Where
You can take your exam online as long as the exam provider is approved. You can also start taking your course any time of the year since it is available online.
If you want to take the course in person, you’ll need to look on the site to see the schedule. You’ll have the option to take the exam in person and there are testing centers all over the state, so you’ll be able to find one close to you.
Passing Score On the Exam
The minimum passing score for the exam is a 75% on both the national and state-specific exams. The state-specific portion is 130 questions and the national section contains 80. You’ll have a total of four hours to complete both sections.
The exam is online, so you will receive your score right away. You will be given a breakdown of your score if you fail. This will help you know what you need to study for the time being.
75% of people who take the exam in Indiana pass it. It’s a challenging test and you should use your pre-licensing course and exams as practice.
Renewing Your License
As a real estate agent, you’ll be required to renew your license and continue doing educational courses. Once you get your license, you’ll have two years to complete a 30-hour course.
After you’ve been a licensed real estate agent in Indiana for two years, you’ll need to complete 12 hours of continuing education courses every year for three years. This will keep you updated on the laws and other information that you need. If you’ve worked as a real estate agent in another state, you’ll still need to get licensed in Indiana.
Indiana Real Estate License
Buying and selling real estate is big business in the United States. Becoming a real estate agent is a great career path for those who love people, sales, and property.
If you think you have what it takes to sell property, you are going to need to get your Indiana real estate license first. As you can there are a few steps you need to take and it can take a while to take the classes and the tests.
Starting now will you give yourself enough time to study and prepare for your state test? If you’re ready to get started, contact us and we will help you get started.