Earning a Brokers License
For those interested in selling residential or commercial real estate, the first requirement is to obtain a real estate brokers license. This is the initial stating block of a real estate career.
The first stage of preparation for earning that license in Washington is to be at least 18 years of age and hold a high school diploma or its equivalent. The next step is to take an approved courses in Real Estate Fundamentals and Real Estate Practices. The fundamentals course is a 60 clock-hour class, available via many delivery methods–lecture, online, audio, etc. The practices course is a 30 clock-hour class delivered similarly. The courses do not need to be taken from the same education provider. Upon completing the courses, the prospective licensee must pass a computerized written broker examination addressing general and state-specific questions.
The purposes for the educational requirement are two-fold. First, the financial decisions made by your future customers and clients are among the most important of their lives. It is essential that the real estate licensees with whom they are working have adequate training to protect their welfare.
Second, training will help reduce the exposure to damages brought by those same customers and clients, Inappropriate actions or advice by a real estate licensee could result in fines or lawsuits against you or your employer which could take a licensee to very edge of bankruptcy.
The fundamentals course is required to cover these topics:
- Real Estate as a Career
- Real Property Ownership, Rights, Interest and Land Use Controls
- Contract Law
- Agency Law and Brokerage Relationships
- Listing Agreements and Procedures
- The Selling Process
- Real Estate Valuation
- Real Estate Finance
- Escrow and Settlement Process
- Leasing, Property Management and the Residential Landlord Tenant Act
- Real Estate License Law
- Fair Housing Issues and Consumer Protection
The practices course is required to cover these topics:
- Business Skills and Procedures
- Agency Relationship
- Listing Property
- Evaluating and Pricing Property
- Marketing Property
- Negotiation and Sales Techniques
- urchase and Sale Agreements with Earnest Money Provisions
- Residential Financing and the Closing Process
- Real Estate Math
Retaining Your Brokers License
A new real estate license expires to years after it is issued. For example, if your license is issued on February 15, 2011, it will expire on February 15, 2013.
- FIRST RENEWAL REQUIREMENTS: a 30 clock-hour course in advanced real estate practices; a 30 clock-hour course in real estate law; 30 clock-hours of approved continuing education (3 clock-hours must be designated as “core.” [90 clock-hours total]
- SUBSEQUENT RENEWAL REQUIREMENTS: 30 clock-hours of approved continuing education during each renewal period; 3 clock-hours must be designated as “core.” [30 clock-hours total]
Earning a Managing Brokers License
The next step in a real estate career is often to pursue a real estate managing brokers license. Since all activity by real estate licensees takes place in the names of managing brokers, the requirements for obtaining this license are more demanding. They are:
- 18 years of age or older
- High School diploma or its equivalent
- Minimum of three years of actual experience as a full-time real estate broker in this state or in another state having comparable requirements, within the five years prior to applying for the broker’s license examination
- Successfully complete 90 hours of instruction in real estate including:
- 30-hour course in brokerage management
- 30-hour course in advanced real estate law
- 30-hour course in business management
All courses must have been taken within five years prior to applying for the brokers examination, and must have included an approved examination.
Pass the managing brokers license examination addressing general and state-specific questions and a settlement statement exercise.
Retaining Your Managing Brokers License
Like brokers, real estate managing brokers must complete 30 clock-hours of approved continuing education (including three “core” hours) during each two-year renewal period.
AFTER a prospective licensee has fulfilled all the requirements that qualify him or her to take a real estate licensing examination, he or she may make an appointment to take the examination with Applied Managment Professionals, Inc. (AMP) is the testing service used by the Department of Licensing. The exams are administered by computer at AMP Assessment centers (see table below for locations) Monday through Saturday at 9 a.m. and 1:30 p.m. Advance reservations are required. You may register online at www.goamp.com (select “candidates”) or by phone: 800-345-6559. The examination fee is$138.25. A credit card is required for payment.
AMP Test Centers
|Seattle (Bellevue)||H&R Block, 15015 Main St., Ste 111B|
|Seattle||H&R Block, 113 1st Ave N|
|Spokane||H&R Block, 1601 N Division, Ste I|
|Tacoma||H&R Block, 7626 S Tacoma Way|
|Yakima||Farmers Insurance, 1340 N 16th Ave, Ste A|
|Everett||H&R Block, 7010 Evergreen Way|
|Kennewick||H&R Block, 4018 W Clearwater Ave|
|East Wenatchee||H&R Block, 636 Valley Mall Parkway Ste A4|
|Vancouver, WA||Executive Center Northwest, 4001 NE Main St|
The Department of Licensing and its testing agent, AMP, are committed to equal access to its services to candidates who, because of disabilities or religious reasons, need special arrangements. Call AMP at 800-345-6559 to request special accomodation.
For more information related to Washington’s requirements for licensure , contact the Department of Licensing, Real Estate Program.
Broker License: 360-664-6488
Managing Broker License: 360-664-6500
For more information related to the examination registration process, contact Promissor: 800-274-5985
NEW REGULATIONS, Effective July 1, 2010
For individuals (both broker and managing broker) who had their licence prior to July 1, 2010, a Transitions Course (3 clock-hours) must be taken prior to your first renewal after July 1, 2010. This transition course can be part of the 30 clock-hour continuing education requirement, and DOES NOT replace the Core requirement.
Licensing of Real Estate Brokers and Managing Brokers (Chapter 18.85 RCW). These requirements are administered by the Washington State Department of Licensing, with advice from the Washington Real Estate Commission.
Washington Center for Real Estate Research
University of Washington
424 Gould Hall, Box 355740
Seattle, wa 98195