Cost To Become A Real Estate Agent In Ohio
Real estate is a lucrative industry that attracts many people. If you want to become a real estate agent in Ohio, it is important to know the cost involved. The cost of becoming a real estate agent in Ohio varies depending on several factors. In this article, we'll take a closer look at the cost of becoming a real estate agent in Ohio.
Real Estate License Requirements in Ohio
Before we dive into the cost of becoming a real estate agent in Ohio, let's take a look at the requirements for obtaining a real estate license in Ohio. To become a licensed real estate agent in Ohio, you must be at least 18 years old, have a high school diploma or equivalent, and complete a pre-licensing education course. The pre-licensing education course consists of 120 hours of real estate education that covers topics such as real estate law, finance, appraisal, and property management.
After completing the pre-licensing education course, you must pass the Ohio Real Estate Salesperson Exam. Once you pass the exam, you can apply for your real estate license with the Ohio Division of Real Estate & Professional Licensing.
Cost of Pre-Licensing Education Course
The cost of the pre-licensing education course varies depending on the provider you choose. The cost of the course can range from $200 to $1000. The course can be completed online or in-person, and the cost may vary depending on the delivery method you choose.
If you choose to complete the course online, you may need to purchase additional study materials, such as textbooks or practice exams. These additional materials can cost between $50 to $200.
Cost of Ohio Real Estate Salesperson Exam
The cost of the Ohio Real Estate Salesperson Exam is $61. The exam consists of 120 multiple-choice questions, and you must score at least 70% to pass. If you fail the exam, you can retake it for an additional fee.
Real Estate License Application Fees
Once you pass the Ohio Real Estate Salesperson Exam, you can apply for your real estate license. The application fee for a real estate salesperson license is $75. You will also need to pay a $10 recovery fund fee and a $20 FBI criminal background check fee.
After you receive your real estate license, you will need to renew it every three years. The renewal fee for a real estate salesperson license is $135.
Additional Costs
Aside from the costs mentioned above, there are additional costs associated with becoming a real estate agent in Ohio. These costs can include:
- Membership fees to join a real estate association, such as the National Association of Realtors or the Ohio Association of Realtors. These fees can range from $100 to $500 per year.
- Continuing education courses to maintain your real estate license. You must complete 30 hours of continuing education every three years. The cost of these courses can vary depending on the provider.
- Marketing and advertising costs to promote your real estate business.
Conclusion
The cost of becoming a real estate agent in Ohio varies depending on several factors. The cost of the pre-licensing education course can range from $200 to $1000, and the Ohio Real Estate Salesperson Exam costs $61. After you receive your real estate license, you will need to pay renewal fees every three years. Additionally, there are additional costs associated with becoming a real estate agent in Ohio, such as membership fees and continuing education courses.