How to obtain a brokerage license
Information to Obtain a License
Applicants must schedule to take their examination through PSI @ http://candidate.psiexams.com/index.jsp
Background Check Requirement- All persons applying for issuance of a new license or re-issuance of a previously held license must have an approved background check. Approval of a background check comes from the Oklahoma State Bureau of Investigation and from the Federal Bureau of Investigation.
License Types and Requirements:
Provisional Sales Associate - A provisional sales associate (PSA) is an entry level licensee under the supervision of a real estate broker. A PSA cannot enter into contractual agreements with a customer or client in his or her own name, but must enter into such agreement for and in the name of their sponsoring broker. To apply for a PSA license, a person must be of good moral character, eighteen (18) years of age, and submit evidence to the Commission of successful completion of a ninety (90) clock hour basic real estate course that is approved by the Commission or submit proof of completion of six (6) college credit hours in a real estate discipline that is acceptable by the Commission. All education must have been completed within the previous 36 months prior to application.
The last page of the Provisional Sales or Sales Associate application allows the applicant to sign up with a broker prior to taking the examination; however, it is not a requirement to have this part of the application completed prior to taking the examination.
Upon passing the state examination and obtaining a Provisional Sales Associate or (PSA) license from the Commission, a PSA must complete a Commission approved post license course consisting of forty-five (45) clock hours within the first year of obtaining a license; moreover, the Commission has identified core subject matter that must be completed to meet this requirement. Other education content of a specialized nature such as property management or commercial real estate etc. that consists of at least forty-five (45) clock hours may meet this requirement as well; however, it is advisable to contact the Commission prior to enrolling in such a class to ensure it will qualify. Once a PSA has provided the Commission with evidence of completion of a post-licensing course and has submitted the appropriate form with fees at the end of their one year license term their license will be issued as a Sales Associate (SA).
NOTE: The month that a license is issued in counts toward the one year license term regardless of whether it is issued on the first day of the month or the last.
Sales Associate - A Sales Associate (SA) license is the same as a Provisional Sales Associate (PSA) license except: a Sales Associate has a twenty-one (21) clock hour continuing education requirement each active license term, and the Sales Associate license is a three (3) year renewable license.
In order to obtain a SA type of license, a person must be of good moral character, eighteen (18) years of age, completed one year of licensure as a PSA, or its equivalent, as determined by the Commission, and submit evidence to the Commission of their successful completion of a ninety (90) clock hour course in basic real estate instruction that is approved by the Commission.
Broker - A broker license allows a person to do business as a firm and sponsor licensed associates such as Provisional Sales Associates, Sales Associates or Broker Associates. Brokers are responsible for activities of their associates.
A broker applicant is required to be of good moral character, have two (2) years of active experience or its equivalent as a PSA or SA within the past five (5) years, and submit evidence of successful completion of ninety (90) clock hours of advanced real estate instruction in a course that is approved by the Commission.
Equivalent Experience Point System:
In cases where a broker applicant meets the requirements as outlined on the "Experience Equivalent Point System " the licensee may request the two (2) years experience to be waived. For an equivalent point waiver to be considered all documentation that is required by the Commission must be submitted to the Education Department for approval.
For individuals that are granted an equivalent point waiver no education requirements will be waived and the applicant must show proof of successful completion of a ninety (90) clock hour course in basic real estate (or its equivalent), completion of an approved post-license education course consisting of forty-five (45) clock hours (or its equivalent) and completion of an approved (90) clock hour course in advanced real estate instruction (or its equivalent) in order to be approved to take the brokers examination.
Additional information for the "Experience Equivalent Point System " can be found on the Commission's website at www.orec.ok.gov under the tab in the left margin labeled "Information to Obtain a License ", then look under the right margin for the point waiver form.
Upon successful completion of the examination and the background check receiving final approval, the applicant who wishes to have an active license will be required to have a broker sign a form verifying sponsorship, which is the last page of application B. If the last page of application B is not completed the Oklahoma Real Estate Commission will provide the applicant with either a "Request for Issuance of a Provisional Sales Associate or Sales Associate License " form for either active or inactive status. If the applicant chooses to have the license issued on inactive status, an inactive pocket card will be mailed to the mailing address provided by the applicant.
When you make application to the Commission you are required to use your full legal name. Your license will be issued in your legal name; however, if you wish to do business in a nickname or alias you may do so only if it is registered with the Commission. On the application you must list all nicknames or alias names that you have used or plan to use. For example, if your name is Robert and you go by Bob, you must list Robert as your legal name and Bob as a nickname. If any part of the application is incomplete, the application cannot be approved and all fees paid to the Commission are non-refundable.
All Applications for Licensure Must Include the Following Information:
Application for License - Any person seeking a real estate license shall make application for such license on "Application Part A ." The form shall contain your legal name to include first, middle and last, Social Security number - pursuant to Title 56, Oklahoma Statutes, Section 240.21A, a recent photograph and your birth date. All requested information must be completed before you will be given approval.
Background Check Requirement - All persons applying for issuance of a new license or reissuance of a previously held license must first complete "Application Part A " and submit with such application a fingerprint card(s) and the required fee of $41.00. The fingerprint cards will be transmitted by the Commission to the Oklahoma State Bureau of Investigations (OSBI). Once OSBI accepts your fingerprints they will forward the prints on to the Federal Bureau of Investigations (FBI). Upon review by both agencies a background report will be sent to the Commission.
Proof of Citizenship - Federal law requires that you provide proof of citizenship or qualified alien status to receive a license - this means
that you must provide proof of documentation such as a legible copy of a birth certificate, valid passport, permanent resident card (Green Card), unexpired temporary foreign passport, etc.
Evidence of Citizenship or Qualified Alien Status Form and Affidavit Verifying Lawful Presence - You must submit a notarized "Affidavit Verifying Lawful Presence in the United States
" form. This form is required per Oklahoma Statute, 56, Supplement 2007, subsection 71 and the "Proof of Citizenship Form " with documentation. Both of the aforementioned forms with documentation are required, as one meets the Federal requirement and one meets the State Law requirements.
Certificate of Successful Completion - The pre-license school must provide you with evidence showing that you have successfully completed the appropriate course content. You can start the education requirements at any time but evidence of successful course completion must be received by the Commission before you are eligible to take the examination. This can be accomplished by the Director of the school signing "Application Part B " and indicating that you have met all course requirements.
Picture - You must provide a passport type picture that is the size indicated on the application. The picture must be taken within the past twelve (12) months.
Applicants are advised to review the "Applicant Information Bulletin " which can be found on the Oklahoma Real Estate Commission website under "Information to Obtain a License " for additional information on the examination.
PSI Services, LLC is the current examination provider for the Oklahoma Real Estate Commission.
If you wish to schedule to take the examination at a location outside of Oklahoma then you must do so by calling PSI at 1-800-733-9267. Examinations are delivered via computer at the following PSI examination centers listed below:
3800 N Classen Blvd, Ste C-20 21 East Carl Albert Parkway
2816 East 51St Street, Suite 101 1915 Oklahoma Ave, Suite 3
Nonresident applicants may take the required examination at the above listed locations or any other PSI location across the United States.
Examination fees must be paid directly to PSI Services, LLC through an online registration service or by mailing the required fee directly to PSI.
The Real Estate Commission must receive the following completed documents before an applicant can register for an examination:
- Application Part A - with a completed finger print card and fee of $41.00
- Application Part B - with all information complete including a photo, proof of citizenship and proof of education.
Upon the Commission receiving the aforementioned documents and fee of $41.00, the Commission will check the application for
completeness. Once the application has been approved by the Oklahoma Real Estate Commission notice will be sent to the applicant, and
to PSI, and applicants may then schedule with the examination vendor at a location of their choice.
Applicants May Schedule for an Examination Using One of the Following Methods:
Via the Internet 24 hours a day at www.psiexams.com
Using a touch-tone phone, call PSI 24 hours a day at (800) 733-9267
With a PSI registrar at (800) 733-9267, available Monday through Friday, between 6:30 a.m. and 7:00 p.m. and Saturday, between 10:00 a.m. and 4:00 p.m. Central time.
Applicants will receive results immediately following completion of the examination.
If an applicant fails the examination, they will be given the option to review their failed questions at the end of their examination; however, THIS WILL BE THE ONLY OPPORTUNITY FOR REVIEW.
If an applicant does not successfully pass the examination they then must contact PSI to reschedule.
Applicants are advised that in Oklahoma real estate licensees do not practice under the “Common Law of Agency”, but rather, practice under "Broker Relationships" which is defined in the Oklahoma Real Estate License Code and Rules. The common law of agency is practiced in most all other licensing jurisdictions and therefore since Oklahoma is utilizing a national examination vendor the national portion of the examination will contain questions regarding the common law of agency concepts as they may deal with non-residents licensees and/or consumers.
NOTE. In Oklahoma, the common law of agency is still practiced between the real estate broker and the broker’s associates; however, there is no agency relationship that can exist between the broker/associate and the consumer. Applicants can locate references to the common law principles of agency in real estate text books that may be obtained from any local library.
Grade Validity - A passing examination score is valid for one (1) year; however an applicant may request in writing for an extension of the validity period and at the discretion of the Commission the validity period may be extended.
Obtaining a license upon passing the examination
No person shall begin licensed real estate activities until their license has been issued.
You have two choices of license issuance: 1) you can have the license issued under a sponsoring broker; or 2) you can have the license issued on an inactive status until you have located a sponsoring broker.
If you decide to have your original license issued on "Inactive Status " the following rules apply:
A pocket card will be sent to your residence address of record; however, in order to continue on inactive status, you must pay all license renewal fees; and you are prohibited from performing any licensed activities while your license is on inactive status. If you desire to activate a license that was renewed inactive you will be required to meet all continuing education requirements prior to license activation.
If you decide to have your license issued on "Active Status " the wall license and pocket card will be mailed to the sponsoring broker's office.
Broker - Upon successful completion of the examination and the applications receiving final approval the applicant will be required to select the broker license type. These options are explained in the Broker Licensing Options on the OREC website. Each license type requires different forms; however, the license and the education and recovery fund fee is the same.
A Resident Licensee is a person who is licensed in the state of Oklahoma and operates from a place of business within the State of Oklahoma.
A Non-Resident Licensee is someone who maintains a place of business in another state but periodically comes into this state to operate and perform real estate activities.
An individual can reside in the State of Oklahoma but if their business address is in another state they are a non-resident licensee.
A non-resident active licensee may apply for a license but they must have the following. 1) a minimum of two (2) years applicable active experience out of the previous five (5) years as a sales associate or broker, 2) provides a certification of licensure verifying such and indicating that the license is in good standing in their state or jurisdiction of licensure, 3) complete at least one (1) hour each in three (3) Oklahoma state specific courses: Contract and Forms (CON ), Code and Rules (CAR ) and Broker Relationship Act (BRA ) 4) completes all appropriate forms and pays all required fees, which includes approval on the background check and 5) successfully pass the required examination.
To find a list of states or jurisdictions that have a non resident agreement with the State of Oklahoma go to www.orec.ok.gov and click on the tab named "Information to Obtain a License " and you will find on the right side of that page a tab named "Non-Resident Agreements ". This form contains additional information as to the examination requirements to obtain a non resident license. Applicants can contact the Education Department at OREC for exact requirements as most agreements differ in some aspect or another.
Oklahoma allows brokers of this state to participate in a cooperative brokerage arrangement with a broker of another jurisdiction provided that each broker conducts real estate activities only in the state or jurisdiction in which they are licensed.
Please feel free to contact the Education and Licensing Department with the Oklahoma Real Estate Commission toll free at 1-866-521-3389 or 405-521-3387.Source: www.ok.gov