How to Prepare for Pre-Licensing Real Estate Classes in Indiana
Getting a real estate license has become increasingly appealing for various reasons, especially following the recent housing market boom during the early stages of the COVID-19 pandemic. Whether looking for a career change or exploring the possibility of some side income, practicing real estate mandates that prospective practitioners meet and complete several requirements. Each state has its own set of standards.
One of the requirements you must fulfill before starting your real estate career is enrolling in 90 hours or more of real estate pre-licensing classes in Indiana. Real estate pre-licensing classes cover foundational knowledge that prospective brokers must know to pass both the course’s final exam as well as the Indiana Real Estate Examination.
Not all pre-licensing courses are created equal, and not all courses provide the same coverage, so it is important to choose a quality course provider. In this article, we discuss what pre-licensing classes entail and how best to prepare for them so you can get your Indiana real estate license.
Pre-licensing courses must be completed before you can earn your Indiana real estate license. Comprehensive pre-licensing courses come in bundles and include various topics on the national- and state-level realty laws and procedures required to adequately prepare for your future real estate exams. National topics include property ownership, contracts, and aspects of property management such as contracts, title transfers, and disclosures. State-level topics cover issues around Indiana real estate laws and regulations, licensing, and the bylaws of the Indiana Real Estate Commission.
You can elect to do either online or in-person classes when enrolling in pre-licensing courses. Online courses give you the flexibility to choose where and when you learn, so you can choose to work in the environment that works best for you. Online classes are also easier to attend for many working professionals who might be unable to attend classes on campus due to time conflicts, distance, or weather.
In-person classes require that you go to a campus or classroom to get your course information. It might be more of a commitment and requires more flexibility, but in-person classes give you the opportunity to ask questions to the instructor and network more easily with current and prospective real estate professionals to gain insight and even potential connections to a future real estate agency.
A slight variation of the in-person class also includes a virtual option that some schools offer. A virtual class will typically include participating in a live classroom, but from your location and convenience. Think of this like you would a virtual meeting using a platform such as Zoom.
To successfully apply for your Indiana real estate broker license, you need to pass both your pre-licensing course exams as well as the Indiana Real Estate License Exam. Within your pre-licensing class, you will need to pass three exams with a total of 75% or better to move on to the Indiana Real Estate Exam.
The Indiana Real Estate brokerage exam is a state-administered exam by PSI that consists of 125 questions about general law, ethics, and procedure in real estate law and transactions. This exam must be completed within one year of completing your pre-licensing courses and you must achieve a score of at least 75% to pass the exam.
Preparing for Indiana Pre-Licensing Classes
To complete this portion of real estate licensure preparation, you must be able to commit yourself to at least 90 hours of coursework. To ensure that you get the most out of the time you need to put into this career, you should make sure you make the proper preparations before looking into enrolling in a pre-license course.
1. Ensure that you meet educational and professional requirements to get licensed
To qualify for real estate licensure in Indiana, you must satisfy the following requirements:
- You must be a U.S. citizen or hold a legal immigrant status
- You must be at least 18 years of age
- You must possess either a high school diploma or a GED
These qualifications only apply to the ability to qualify for and take the Indiana Broker Real Estate Exam. You also need to find the time and space to study for the broker licensing exam and apply with a brokerage to gain experience within the real estate industry. Also, remember that you must take and pass the real estate licensing exam one year upon completion of all real estate license requirements.
2. Prepare your space and schedule to accommodate schoolwork and studying
Regardless of whether you choose to enroll in an online class or an in-person course, you will need to take time to review your materials and study outside of class time. Over 50% of people who take the real estate exam fail their first time due to under-preparedness and lack of studying.
One way to get ahead of failure is to ensure you have dedicated time and space to review the material you have learned in your courses. Whether that means arriving early to study before work, moving your furniture around to create an at-home office, or utilizing a nearby library, having a dedicated study space away from distractions will help you focus better and study more effectively.
3. Familiarize yourself with the material you will be studying
Although you will cover everything you need to know when you enroll in classes, nothing can help you to prepare better than exploring the concepts you will be learning ahead of time. Not only will this help you familiarize yourself with the material, it will also give you the opportunity to prepare and ask questions when class starts.
While looking into classes, you can use that time to identify topics that you think might be important to know or difficult to understand for the exam. It also helps you learn what topics do not need as much attention; after all, focusing on unimportant details or trying to memorize everything are two common mistakes many prospective brokers make when attempting to get their licenses. Learning what to focus on will help you hone your attention to those topics when browsing courses and avoid courses that do not provide the knowledge to successfully pass your exams.
4. Enroll in a real estate pre-licensure class
Applicants wishing to become licensed in Indiana must complete pre-license education through a state-approved course. Do your due diligence to ensure the courses you take are one of the providers listed on Indiana.gov’s list of 90-Hour Pre-Licensing Broker Courses. Avoid classes that offer exceptionally low costs (you get what you pay for), irrelevant information, or are not accredited by the state of Indiana.
Why Choose IREI for Your Pre-License Real Estate Classes?
As a state-approved institution, Indiana Real Estate Institute has trained over 10,000 students since 1990 to become successfully certified real estate agents. IREI offers over 40 courses that give you the knowledge and skills you need to become a successful real estate agent. In addition to pre-licensing courses, IREI offers both in-person and online real estate exam prep, post-licensing courses, and continuing education courses to satisfy Indiana’s licensure requirements.
Register today to take the first step toward your new career in real estate!