How to Become a Real Estate Broker in Oregon

Posted on: May 29, 2007

Have you ever wondered what you need to do to become a broker in Oregon? First you need to decide where to go to school. There are several options; click here for a list of state-approved schools. You can choose to go to a college and have an instructor. Pro-Schools offers real estate broker pre-licensing courses and others are offered at individual real estate agencies. Some agencies will reimburse you for the cost of the pre-licensing course. You can also do online education. People learn in different ways. You need to choose the best school for your own individual learning style. If you do better in a classroom environment you should go to a school that has an instructor. Sometimes it is good to interact with other students, also. I chose to do online education. It is a really good option for someone who can learn independently and pace him/herself well. The online course can be finished fairly quickly. If you need to just fit it into your schedule after work it is really good for that. Personally raising three children and working, it really was the only option I could have chosen.

In my opinion, having an agency pay for your schooling can be good or bad. In my case I went to school and a real estate company said that if I would choose to work with them and stay with them for six months they would have paid for my schooling. After I received my license, I decided it would be beneficial to look at other companies. I think everyone should go out and talk to, or investigate, several companies. I did. I chose to work with a different company. A new broker really should feel comfortable wherever they choose to go. It is not worth having your pre-licensing paid for if you fail at real estate. It defeats the purpose. There are a lot of brokers out there that start somewhere and end up leaving the company, or worse yet quitting the real estate business all together. Don’t waste your time.

Here is the estimated cost break down from start to finish:

Pre-licensing course $500.00
Oregon State Real Estate Exam prep book $25.00
Application for the Oregon Real Estate Test $75.00
Background check $15.00 and up
Oregon Real estate license $230.00
Realtors Multiple Listing Service activation $94.00
Electronic key deposit $50.00
RMLS monthly dues $35.00 (billed quarterly)
Monthly key cost $7.95 to $22.45
Association of realtors choose one:

Portland Metro Association of Realtors: $100.00 activation and $310 annually (pro-rated)

East Metro Association of Realtors: $40.00 activation and $310.00 annually (pro-rated)

Sometimes a career change can be really daunting. There is a ton of information to learn and digest. A few years back the state made it more difficult to become licensed. All licensees now need to become brokers. This really is a good thing. Click here to view the new licensing rules. It is a hard industry to break into. Any really successful agent will tell you that you need to work hard and put in a lot of hours. It is worth it.

Article written by Brenda Lund, Broker for portlandrealestate.com.