How To Become A Real Estate Agent In Oregon
Professional education plays an important role in earning and maintaining an Oregon real estate license. You need to satisfy pre-license requirements to earn your license and complete a particular amount of professional training for license renewal.
Below, we'll go over how many hours of training the Oregon Real Estate Agency (OREA) requires, on which topics, by what deadlines, and more.
What Does "Broker" Mean in Oregon?
Most states call entry-level licensees "salespersons" or "sales agents" and only use the term "broker" when they're talking about the next level of licensing.
OREA uses "broker" for entry-level licensees. The next level of licensing – which legally enables a real estate professional to own a brokerage, handle transactions, oversee new agents, and more – is called a "principal broker" in Oregon.
We're going to use Oregon's terms while we talk about their process.
What Are Oregon's Resal Estate Pre-Licensing Education Requirements?
OREA requires 150 hours of pre-licensing coursework from an Agency-approved provider. You need to register with the state of Oregon first so you can provide your school with an Applicant ID number.
Curriculum includes:
- Real Estate Law (30 hours)
- Oregon Real Estate Practice (30 hours)
- Real Estate Finance (30 hours)
- Contracts (15 hours)
- Agency Law (15 hours)
- Property Management (10 hours)
- Real Estate Brokerage (20 hours)
Regrettably, AgentCampus by 360training doesn't offer Oregon pre-license courses right now, only continuing education. You can find a school authorized for pre-license training on OREA's website.
Who is Eligible to Become a Real Estate Agent in Oregon?
To be eligible to become a broker in Oregon, you need to:
- Be at least 18
- Have a high school diploma, GED, or an international equivalent
What Else Do I Need to Do to Earn My Oregon Real Estate License?
To earn your Oregon broker's license, you need to:
- Register with OREA's eLicense system, including a nonrefundable application fee
- Pass your required pre-license courses with an approved provider
- Schedule and pass your Oregon real estate license exam
- Undergo a background check process
- Find a current and active principal broker in Oregon to sponsor you
What is the Oregon Real Estate Licensing Exam Like?
The Oregon Real Estate License Exam is administered by a third-party testing company named PSI. They have testing locations throughout Oregon.
The exam consists of 80 national questions (which you have 2 hours to complete) and 50 Oregon-specific questions (for which you have 75 minutes).
You need at least 75% on both sections to pass the exam. You'll get pass/fail results before you leave the testing center.
How Often Does an Oregon Real Estate License Have to Be Renewed?
Oregon real estate licenses have to be renewed every 2 years. Your license expires on the last day of your birth month. You can submit your renewal request as early as the first day of that same month.
Your first renewal period will be somewhat shorter.
What Are the Real Estate Post-Licensing / First Renewal Requirements in Oregon?
For your first renewal as an active licensee (or your first activation of a license that's never been active), you need to complete 30 hours of coursework with a Certified Continuing Education Provider.
The Law and Rule Required Course (LARRC) will comprise 3 hours of that total.
The other 27 hours will be a Broker Advanced Practices (BAP) course. Curriculum includes:
- Business ethics (9 hours)
- Recent administrative actions issued by the Agency (3 hours)
- Property management (4.5 hours)
- Business economics (3 hours)
- Advanced agency relationships (3 hours)
- Misrepresentation and negligence (4.5 hours)
We don't offer first renewal packages at this time, only packages to fulfill the second and subsequent renewals described below.
What Are Oregon's Continuing Education Requirements for Real Estate?
Oregon requires you to complete 30 Continuing Education hours from an approved provider (like us!) every 2 years, including:
- 3 hours of LARRC
- 27 hours of approved electives
What Kind of Jobs Can I Get with an Oregon Real Estate License?
You can pursue a variety of careers with a real estate license in Oregon, including:
- Residential real estate agent
- Commercial real estate agent
- Principal broker
- Property manager
Within each role, a wide variety of specialties and niches are possible. Some practice areas are more highly paid than others; often, those require further licensing or certification.
You can get a general idea of salaries in Oregon with wage data from the Bureau of Labor Statistics:
| Job Title | Average Hourly Wage | Average Yearly Wage |
|---|---|---|
| Sales Agents | $18.54 | $38,560 |
| Brokers | $27.85 | $57,930 |
| Property Managers | $23.48 | $48,840 |
Since a real estate agent's income is usually based on commission, the salary range is broad. Some real estate professionals have earnings well below average. Others make well above – in Oregon, the top 90th percentile of brokers make $102,590.
To learn more about your career options, potential niches, and how commissions work check out our Resources page for more info.
