The Real Estate License Professor

LICENSE TYPES AND REQUIREMENTS

Provisional Sales Associate
A provisional sales associate (PSA) is an entry level which is under the supervision of a real estate broker. A PSA can not 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.

In order to apply for a PSA license, a person must be of good moral character, eighteen (18) years of age or older, and submit evidence to the Commission of successful completion of Part I of forty-five (45) clock hours of basic real estate instruction in a course that is approved by the Commission.

Upon passing the state examination and obtaining a PSA license from the Commission, the PSA has a Part II Post-license education requirement of forty-five (45) clock hours that must be completed within the first year of obtaining a license. The Commission has identified core subject matter that qualifies to meet this requirement; and also approves other subject matter totaling forty-five (45) clock hours or more, as long as it is real estate related and is approved by the Commission. Once a PSA has completed Part II of the course requirement and has provided the Commission with evidence of such completion, at the end of their one-year license term their license will be issued as a sales associate (SA) license (upon submission of the appropriate form and fees.)

Sales Associate

A sales associate (SA) license is the same as a provisional sales associate (PSA) license except: 1) the sales associate no longer has a forty-five (45) clock hour Part II Post-license education requirement, but rather has a twenty-one (21) clock hour continuing education requirement each active license term; and 2) the sales associate license is a three-year renewable license, as opposed to the provisional sales license which is only a one-year license.

In order to obtain a SA type of license, a person must be of good moral character, eighteen (18) years of age or older, and submit evidence to the Commission of successful completion of forty-five (45) clock hours of basic real estate instruction in a course that is approved by the Commission.

Upon passing the state examination a sales associate must work under the sponsorship of a real estate broker. A sales associate 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.

Broker
A broker license allows a person to do business as a firm and sponsor licensed associates (provisional sales associates, sales associates or broker associates.) The broker will be responsible for activities of their associates. In order for an applicant to apply for a broker license, the applicant must be of good moral character, possess 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 seventy-five (75) clock hours of advanced real estate instruction in a course that is approved by the Commission.

A broker applicant may request the two years experience to be waived but no education course content may be waived. The broker applicant must show proof of successful completion in the basic, provisional Post-license (or its equivalent) and advanced course of study prior to qualifying for the broker examination. Upon request from the Commission, an applicant may attempt to qualify for the two (2) year waiver and must submit all documentation as required by the Commission to verify the waiver.

Upon passing the state examination, a broker has the option of applying for a license as a broker associate, proprietor broker, managing broker for a corporation or association, or as a broker partner of a partnership.

EDUCATION
Basic and Advanced Real Estate Course
The Part I basic and the broker course of real estate can be taken from a private school, vo-tech or college/university. If the course is taken from a college/university, the applicant must obtain a certified transcript. Upon successful completion of the schooling, the applicant may apply to take the state examination. If the applicant took the course from a private school or vo-tech, the school will provide the applicant with the application to take the state examination. If the applicant took the course at a college/university, the applicant will need to contact the Commission office for such application.

Provisional Post-license Course
Provisional Sales Associates are required to complete the Part II Post-license course prior to their one-year license expiration date. This course is not to be taken prior to a license being issued; this course must be completed prior to the one-year license expiration date.

The PSA can take the core course as outlined in the Rules or they may take specialty courses consisting of 45 clock hours or more, in subjects such as: property management, appraising, home inspections, etc. The PSA should contact the Education Department to insure that such course material will count toward the Part II Post-license course requirement.

Continuing Education
Continuing education is required for sales associates and brokers desiring to renew their license on an active status. Provisional sales associates have a separate and unique Post-license requirement and they are not required to complete continuing education as discussed in this area. Upon being issued a real estate license, a sales associate or broker is required to complete twenty-one (21) clock hours every three (3) years. If the licensee maintains an inactive license, the licensee in not required to complete continuing education; however, if the licensee desires an active license, the licensee will be required to complete the required hours prior to activation.