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Ohio Real Estate Salesperson Exam Lesson 3
This is the 2nd sample lessons that we will be sharing with you which will help you prepare for the Ohio real estate salesperson exam.
These Ohio real estate salesperson exam lessons are meant to be a supplement and not a substitute for classroom learning or other requirements of the Ohio real estate department for licensure.
The Full Table of contents may be found HERE
Ohio Real Estate Salesperson Exam Lesson 3
Real Estate Licensing in Ohio
Real Estate Broker = undertakes real estate business on behalf of another for a fee.
Real Estate Salesperson = also known as an agent. Has to work for someone else.
Eligibility in Ohio
• 18 years old or older
• Must have a high school diploma or equivalent
• 120 hours of accredited instruction (40 hours of Real Estate Practices, 40 hours of Ohio Real Estate Law, 20 hours of Real Estate Appraisal and 20 hours of Real Estate finance.)
• Pass the real estate exam. Passing score is 70 percent. There are both national and state specific questions on the test. All questions are multiple choice. 120 minutes are given for the national portion of the test and 60 minutes for the state portion. Most of the time, it is administered on a computer.
• Must be sponsored by a broker.
• Pay the application fee.
Post-Licensing Requirements
• Within a year, 10 additional hours of real estate education
• If not completed with 12 months, the license is suspended.
Broker’s License
• Have to have worked as a salesperson or broker for two years
• At least 30 hours per week for two out of the five previous years.
• Has completed at least 20 real estate transactions.
Renewing a License
• Licenses are valid for three years at a time.
• 30 hours of continuing education are required for relicensurc.
• Failure to renew will result in suspension.
Broker Requirements
• Must have a physical place of business that is registered with the Superintendent.
• Must notify the Superintendent of any changes in location, etc.
• Must notify the Superintendent of all of the agents who are employed there and any staffing changes.
• Must display their license in a public space in their office so that it is clearly visible.
• Must avoid any misleading or discriminatory advertising.
