How do I get an Oregon Principal Real Estate Broker license?
To become a Principal Real Estate Broker in Oregon, an applicant must meet the prerequisites:
- Be at least 18 years of age by the exam date.
- Earned a High School Diploma or its equivalent.
- Have at least three years of active real estate experience.
Once the prerequisites have been met, an applicant must:
- Login to their eLicense account and apply for the Principal Broker License.
- Pay the $300 application fee.
- Complete 40-hours of agency-approved principal broker pre-licensing education (out of state applicants must complete both 150-hours of broker pre-licensing and the 40-hours of principal broker pre-licensing).
- Pass the coursework final exam with a score of 75% or greater.
- Pass the state-issued Principal Broker License exam.
How long does it take to get an Oregon Principal Real Estate Broker License online?
With the exception of the state-issued exam, the Oregon real estate education required by the state can be completed entirely online. Therefore, the CE Shop offers 40-hour packages that can be completed online. Students who complete up to 8 hours of coursework per day could satisfy the requirement in as few as 5 days.
How much does it cost to get an Oregon Principal Real Estate Broker License online?
In addition to the cost of education and testing, those looking to acquire a Principal Broker License will have to pay:
- $300 License Application Fee
- $61.25 (Background Check/Fingerprinting)
What is the difference between an Oregon Broker license and a Principal Broker license?
A broker is licensed to conduct business on behalf of a principal broker and cannot operate independently of a brokerage. A licensed broker can become a principal broker if they complete the required education and examination requirements.
Can I become an Oregon Principal Real Estate Broker if I have felonies or misdemeanors?
In the state of Oregon, Principal Broker License applicants must submit to fingerprinting and be able to pass a background check. Felons can receive a real estate license in Oregon, but the candidate's criminal record must be reviewed and approved by the Oregon Real Estate Agency.
How old do you have to be to get a Principal Broker license in Oregon?
Applicants must be 18 years of age.
Is residency in Oregon required to receive a Principal Broker license in the state?
No, applicants do not have to be a resident of Oregon to receive a Oregon Principal Broker License.
What are the Continuing Education requirements for a Principal Real Estate Broker in Oregon?
Oregon principal real estate brokers are required to complete 30 hours of Continuing Education every biennium (two years).
Does Oregon have real estate license reciprocity with any other states?
Oregon does not have direct reciprocity with any state, but it does offer experience equivalency exemptions for license holders that have completed comparable requirements in other states. Equivalency is determined by the agency.
Can I get my Oregon Principal Real Estate Broker license online?
The required 40-hours of coursework can be completed online, but exams must be taken in person at a PSI Assessment Center.
What is the average salary of an Oregon Real Estate Broker?
According to Indeed.com, the average annual salary of a real estate broker in Oregon is $105,469, so theoretically, a principal broker would earn more.
