How To Become A Licensed Real Estate Broker In Iowa
With the housing market well on the way to complete recovery, many licensees are making the move to become a real estate broker in Iowa. After all, one of the benefits of a forming a career in real estate is the control it allows you in shaping your personal success. The step towards becoming a broker is the beginning of an exciting new chapter in the life of a real estate professional. There is no need to wait for a promotion. A real estate licensee is able to simply make the decision to sign up for broker training and the state exam. Once this decision has been made, it may be only a matter of weeks before you are working as an Iowa broker. Real estate sales associates in Iowa who are ready to take the next step in their real estate careers can begin the process of becoming a licensed real estate broker by completing the state’s requirements for licensure.
Iowa Real Estate License Requirements
- There are such requirements for a real estate license: 24 months of salesperson experience
- Attend and successfully complete 72 hours of broker trainings
- Pass 2 parts of the license exam (national and state)
- If you haven’t worked as salesperson, provide such documents and prove that you have visited these 3 courses: 12 hours buying practices, 12 hours listing practices and 12 hours developing professionalism and ethical practices.
Iowa Reciprocal Agreements With: Anyone holding licenses from any of these states may apply for a reciprocal license, and may be able to forego some classroom work and other requirements.
- North Carolina
- North Dakota
- West Virginia
Real Estate Broker Licensure Exam in Iowa There are 2 parts of Real Estate Salesperson Exam in Iowa. The first part is the real estate salesperson national exam (out of 80 questions – 56 must be answered correctly). The second part is called state specific part (out of 40 questions – 28 must be answered correctly). You are given 120 minutes to complete the national part of the exam and 60 minutes to complete the state specific part.
Real Estate Salesperson Exams in Iowa are administered by PSI exams at www.psiexams.com. An eligibility notice must be provided for you by the Iowa Real Estate Commission before your registration with PSI. You will get a registration letter and don’t forget to bring it to the testing day. After registration, you have 90 days to pass the exam.
When you pass one part of the Real Estate Salesperson Exam, you can take the other part at a later period. But when you have passed both parts of the examination, you have to apply for license during 6 months, otherwise you will have to retake it. Also you will have to pay the registration fee. And you have to show some proof of passing your exam, proof of the education requirement, and proof of errors and omissions insurance.
$90 is the registration fee for the exam in Iowa.
Real Estate Broker Software
The Right Tools The most professional real estate workers often require software to efficiently sort through paper work. It has been pointed out that good software such as Brokermint can transform a real estate business for the better. Back office software should be able to create a consistent and manageable flow from lead generation to closing and accounting. It should be able to cross integrate with Contact Management systems (CRM), MLS and Accounting Packages. The main goal of this type of software is to help real estate experts save time managing day-to-day operations, get instant visibility on production data and remain in compliance with regulations.
Software like Brokermint perfectly fits for small companies that recently started their real estate business.
There are other tools that are useful to real estate agents. Having a strong social media presence through sites such as Facebook or LinkedIn can come in very handy in attracting potential customers. Also consider using Zillow and Trulia. These websites help track information on available real estate properties in local areas. Be sure to familiarize yourself with the kinds of tools that real estate brokers need to work in the field. It is a necessity to feel prepared in this business.
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