To apply for a salesperson license, a person must be at least 18 years old. To apply for a broker’s license, a person must have held a salesperson’s license and have actively engaged in the real estate business for at least two years. A person need not be a United States citizen to apply for either license. To apply for either license, however, a person must present satisfactory proof of his or her truth and honesty.
The broker’s examination tests for knowledge of:
- the English language;
- the mathematical computations needed to understand real estate and business opportunity transactions;
- the rules of real estate and business opportunity transfers;
- the rules of agency contracts;
- the common documents used to transfer real estate, and to make real estate loans, as well as equivalent documents for business opportunity sales.;
- the principles of business,
- the principles of land economics,
- the principles of agency, and
- real estate professional ethics.
If a person fails the examination, he or she may take it again within a two year period.