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 Iowa Workforce Information NetworkDecember 22, 2014
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License Title: Real Estate Salesperson

License Description: Real estate salespersons are licensed to be employed by or otherwise associated with a supervising broker to rent, buy or sell property for others for a fee, usually on a commission basis. They review and study property listings and interview prospective clients to solicit and sell listings; stay current with market conditions and property values; show property sites and are responsible to provide accurate information to prospects concerning price, features, property condition and terms of sale or lease; write real estate contracts, including purchase agreements and rental and lease agreements; and, may write other documents such as deeds and mortgages.

Authorizing Statute: Code of Iowa, Chapter 543B; Iowa Administrative Code, 193E, Chapter 6

Requirements for License:An applicant must be at least 18 years of age, pass a test, and complete a 60-hour prelicense education course. (See 543.15)

A person cannot apply to the Commission if he or she has been rejected for licensure under any jurisdiction within the last six months or has had a real estate license revoked within the last two years. A past felony and other criminal records will be considered in the licensing process. A license may be denied if a professional license of any kind has been revoked. (See 543.15)

All licensees must carry errors and omissions insurance covering all activities contemplated under Iowa Code, Chapter 543B. (See 543B.47 and IAC 193E, Chapter 6, "Requirements for Mandatory Errors and Omissions Insurance")

A non-resident applicant for these positions may be licensed by complying with all requirements of Iowa law. An applicant licensed in another state may qualify under current rules to take the state portion only of the appropriate exam. The applicant needs to be actively licensed and the license cannot be inactive or expired for more than six months prior to successful examination.

Iowa has specific reciprocity agreements with individual states that have agreed to grant licenses to Iowa licensees on the same basis as Iowa will grant a license to their licensees. Non-resident licensees may contact the Iowa Real Estate Commission at (515) 281-5910 to obtain additional Iowa information and to determine if Iowa has reciprocity with the person's state. All applicants will be required to submit a certification of their license from the other state, to verify periods of active licensure and to verify that no current charges are pending and to document that there have been no past disciplinary actions taken.

Thirty-six hours of continuing education are required triennially for license renewal.

Fees:
Application: $125
Duration: Three years
Renewal: $125
Exam: $94


Examination:
When:The examination includes questions on basic real estate transactions and laws affecting the sale of property. Examinations are administered Monday through Friday by appointment only through PSI Examination Service (PSI). Exams are offered in Council Bluffs, West Des Moines, and Cedar Rapids.
Where:Exams are offered in Council Bluffs, West Des Moines, and Cedar Rapids.

License Authority:
Iowa Real Estate Commission
Professional Licensing & Regulation Division
Iowa Department of Commerce

1920 SE Hulsizer
Ankeny IA 50021
Phone: 5152817363


 
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