The real estate market in Ohio has gained power in recent years. It attracts individuals, investors, and buyers. According to reports, home prices have risen to 4 % in Ohio this March if compared to March 2022. Because of this, the number of homes sold during this year is less than the previous year. Hence, Ohio real estate has seen a significant rise in home prices. Ohio is one of the most dynamic states of the Midwest which offers an embarking career in real estate. With its wide range of opportunities and growth, obtaining a real estate license in Ohio can be a beneficial option. But what are the steps to obtain a real estate license in Ohio?
Let’s see how you can obtain a real estate agent:
- You should be eligible
To start your journey in Ohio as a real estate agent you should make sure that you are meeting the eligibility criteria or requirements. To acquire a license, firstly a person should be at least 18 years old. With that, he/she must be a citizen of the United States or a permanent resident who holds a high school diploma or equivalent. The most important thing is that the person should not convicted of any crime under moral turpitude.
It is important to meet these requirements to move forward to the next step.
- You should have completed the required education
Ohio has made it mandatory specific number of pre-licensing education hours to become a real estate agent. To meet this requirement, a person should enroll himself/herself in an approved real estate education program. A person must have completed 120 hours of real estate education in the time frame of 10 years.
The education hours must consist of the below-mentioned hours and topics:
40 hours of real estate principles
40 hours of Ohio real estate law
20 hours of real estate appraisal
20 hours of real estate finance
A person can take these courses online to have flexibility.
- Ohio real estate exam
When a person completes his/her pre-licensing education, next they have to pass the Ohio real estate salesperson exam. This real estate salesperson exam scans your knowledge and understanding of the real estate industry and law. To ace the exam, a person should have prepared through practical exams and guides to become familiar with the pattern and format of the exam. This will automatically increase your chance of selection.
- Find a sponsoring broker
To become a real estate agent, you cannot become independent. You must be joined with a licensed real estate broker. Hence, it is important to find a sponsoring broker who can guide and assist you in your whole journey as a real estate agent.
- Complete criminal check
Before becoming a real estate agent, you must have undergone a process of criminal check. The Ohio Bureau of Criminal Investigation (BCI) and the Federal Bureau of Investigation (FBI) are responsible for it.
- Submission of application
After completing your pre-licensed education, passing the exam, and being a sponsoring broker, you have to submit your application which is associated with the fee. The process generally involves proofing your education, results, and sponsoring broker.
- Post-licensing requirement
After obtaining a license, you must have done 20 hours of coursework to embrace your journey as a real estate agent. This must be done within a year of a license issued.
Conclusion
To become a real estate agent in Ohio, a person must go through the above-mentioned procedure. By following these 7 steps and giving the Ohio Real State exam a person can smoothly embark on his/her journey as a real estate agent. Always be updated with the industry trends.