What is required to get a license in Iowa?
For salespersons:
- Proof of age 18 and above.
- Proof of completion of 60 hours of pre license education.
- Proof of completion of the following three courses: 12 hours Buying Practices, 12 hours Listing Practices, 12 hours Developing Professionalism and Ethical Practices.
- You must go through a background check.
- Complete and pass the real estate examination.
- You must have an errors and omissions insurance.
- Submit the application you will receive upon passing the real estate exam, to apply you must be sponsored by a broker.
- Fees: Examination Fees (Salesperson: $95). License (Salesperson: $125)
For brokers:
- Proof of age 18 and above.
- Proof of completion of 72 hours of pre license education, must include: Contract Law and Contract Writing, Iowa Real Estate Trust Accounts, Principles of Appraising and Market Analysis, Real Estate Law and Agency Law, Real Estate Finance, Federal and State Laws Affecting Iowa Practice, Real Estate Office Organization, Real Estate Office Administration, Human Resources Management, each topic must be 8 hours.
- Proof of 24 months experience as a salesperson.
- You must go through a background check.
- Complete and pass the real estate examination.
- You must have an errors and omissions insurance.
- Submit the application you will receive upon passing the real estate exam.
- Fees: Examination Fees (Broker: $95) License (broker: $170).
What score do I need to pass?
The salesperson exam consists of 80 national questions and 40 state-specific questions. To pass, you must answer correctly at least 56 of the questions national questions and 28 of the state-specific.
The broker exam consists of 80 national questions and 40 state-specific question. To pass, you must answer correctly at least 60 of the questions national questions and 30 of the state-specific.
You will receive your score immediately after you complete your exam.
How much time do I have to complete the exam?
For the salesperson exam: you are allowed 120 minutes for the national portion and 60 minutes for the state-specific portion.
For the broker and associate broker exam: you are allowed 120 minutes for the national portion and 60 minutes for the state-specific portion.
What should I bring with me for the exam?
- 2 Forms of identification with matching names, non-expired and containing a valid signature. (Driver’s license, passport, green card, U.S. social security card, debit or credit card with signature). One of them must be government issued and photo bearing.
- You may bring a calculator which must be silent and should not contain the alphabet, along with it´s written instructions (the manual or downloaded instructions printed).
What is the format of the exam?
The exam is given on a computer.
What is on the exam?
The national portion of the multiple choice exam consists of the following sections:
- Property Ownership
- Land use controls and regulations
- Valuation and market analysis
- Financing
- General principles of agency
- Property condition and disclosures
- Contracts
- Transfer of title
- Real estate calculations
- Specialty areas
The state-specific portion of the multiple choice exam consists of the following sections:
- Licensing Requirements
- License Maintenance
- Disciplinary Actions: Suspension, Revocation and Voluntary Compliance
- Real Estate Education
- Trust Accounts
- Contracts
- Agency
- Prop Disclosure Requirements
- Iowa Civil Rights Act of 1965
- Unlicensed Assistants
- Broker Responsibilities
- Property Management