If you are considering pursuing a career in real estate, understanding pre-licensing requirements for your state is an essential part of the process. This blog post demystifies Indiana’s pre-licensing requirements for real estate agents. In this post, you will learn how to kickstart your career as you learn about the steps for licensing, including pre-licensing courses, exams, and more.
Real Estate Licensing
In the US, individuals must hold a valid real estate license to sell real estate. Each state grants licenses through a state-run Real Estate Commission. Licensing and continuing education requirements are not the same in every state. There is no “national” real estate license, and state requirements must be met to obtain a license. Some states have reciprocity agreements with other states; however, even when reciprocity is possible, there are processes for obtaining licensure by reciprocity governed by each state.
Understanding the Indiana Real Estate Commission IREC
The Indiana real estate commission holds the authority to set and enforce real estate licensing laws and regulations. The real estate commission consists of nine district members, one real estate member-at-large, and two citizen members-at-large. The IREC holds legal authority in the state of Indiana to license and regulate individuals holding real estate licenses in Indiana.
IREC aims to protect the public’s interest by enforcing high standards of competence for real estate professionals. The commission maintains records for all state real estate licenses and licensees. In addition, the commission adopts, administers, and enforces real estate license law, including issuing, denying, suspending, or revoking licenses.
Educational requirements for Indiana real estate licensure are set by the Indiana Real Estate Commission IREC. The requirements standardize the process, ensuring individuals seeking to conduct real estate business in Indiana know and understand Indiana real estate laws and practices. Real estate educational requirements include a minimum age of 18. All applicants must have a high school diploma or equivalent and complete 90 hours of state-approved pre-licensing education courses. Completing online or in-person pre-licensing courses through approved educational institutions or providers is acceptable.
Pre-licensing courses are not only mandatory for licensure, they are vital for success as a real estate agent in Indiana. Pre-licensing education provides prospective agents in-depth knowledge and understanding of Indiana real estate practices. There are many options available catering to different learning styles. For example, in-person courses offer face-to-face instruction in a more traditional classroom setting. In contrast, online courses allow students to study independently from anywhere with an internet-connected device. Learning style and lifestyle will impact the course that best suits each student. Enrolling in courses offered by Indiana Real Estate Commission IREC-approved education providers is critical. The Indiana Association of Realtors maintains a list of state-approved 90-hour licensing courses.
A quick online search will result in various options for real estate pre-education courses. Choosing a course that meets your needs of state licensure, budget, and learning style is imperative.
Tips for Choosing the Right Real-Estate Course
- Instructors’ years of experience—you want to learn from experts in real estate.
- Flexible payment options.
- Accommodation for various learning styles.
The Indiana real estate exam includes 130 questions, 80 that make up the general (“national”) section, and 50 state-specific questions. The test must be completed in person. Each applicant has 4 hours to complete the entire exam, with two and half hours dedicated to the national section and one and a half hours to the state section. To pass, applicants must score at least 60/80 on the national section and 38/50 on the state section. Results are provided immediately upon exam completion.
Tips for Passing the Real Estate Exam
- Take multiple practice exams. Real estate exams are multiple-choice. Taking as many practice exams as possible will increase your chances of passing the exam.
- Answering easier questions first. Answering the questions you know or the easy questions first will boost your confidence and give you more time to focus on the difficult ones.
- Avoid answers you have never heard of before. After all of your pre-education courses and practice exams, if you come across an answer you have never seen before, it is highly likely that the information is incorrect.
- Eliminate answers—work backward to find the correct answer. When reviewing multiple-choice answers, eliminate those that are obviously wrong to increase your chances of choosing the right answer.
- Stick with the answer you choose.
- Avoid competing with other applicants. Don’t race to finish first. Take your time, and don’t worry about other applicants in the room. They may be taking a different exam altogether!
Frequently Asked Questions
Do I need a background check?
No. Indiana does not currently require a criminal background check for real estate licensure in Indiana. However, all licensure candidates must truthly attest that they do not have a criminal background or if so, they must provide a detailed explanation of the situation/s.
Is there a fee for the exam?
Yes. Exam fees are currently $53 (subject to change). Licensing fees are separate from exam fees.
What happens after I pass the exam?
After passing the exam, the next step is applying for an Indiana Real Estate Broker license.
How do I know if my pre-licensing course is state approved?
Before enrolling, verify the course with the Indiana Association of Realtors list of state-approved 90-hour licensing courses.
What is a sponsor, and do I need one?
After passing the Indiana real estate exam, applicants must find a current, active broker to sponsor the real estate application for licensure. A sponsor provides financial and legal support for real estate applicants. They are imperative for activating a new licensee’s real estate license. A sponsor helps new real estate agents navigate their first years in the real estate business.
Indiana Real Estate Institute (IREI)
By demystifying the pre-licensing requirements, we aim to empower aspiring real estate agents with the knowledge and confidence to start a career in Indiana’s dynamic real estate industry. Indiana Real Estate Institute is a trusted educational provider offering pre-licensing class requirements, Indiana real estate, and training for anyone aspiring to become a real estate professional in Indiana. We focus on providing comprehensive, top-quality education approved by the Indiana Real Estate Commission. Our experienced instructors and various interactive teaching methods include in-person or online courses.
Contact us today to learn more about how we can help you achieve your goals of starting your Indiana real estate business.