How to Become a Real Estate Agent in Ohio

If you're interested in becoming a real estate agent in Ohio, you must first be licensed by the Ohio Division of Real Estate and Professional Licensing. There are various requirements that must be met prior to applying for a real estate license including completing the required education at an approved real estate school.

Here's what you need to know to become a real estate agent in Ohio:
1) Licensing Requirements
2) License Renewal and Continuing Education Requirements
3) What is a REALTOR®?
4) Income Potential
5) Real Estate Schools


How to Become a Real Estate Agent in Ohio

1) Real Estate Agent Licensing Requirements in Ohio
You MUST be licensed by the Ohio Division of Real Estate and Professional Licensing  in order to be a real estate agent in Ohio.

To obtain your Ohio real estate agent's license so that you can practice as a real estate agent in Ohio, you must:

i) Satisfy the minimum requirements requirements to apply for the real estate license:

  1. 40 classroom hours of Real Estate Principles and Practices
  2. 40 classroom hours of Ohio Real Estate Law
  3. 20 classroom hours of Real Estate Appraisal
  4. 20 classroom hours of Real Estate Finance

 

ii) Submit a License Examination Application along with copies of transcripts or certificates of completion of educational requirements and a fee of $49.

iii) Receive an Examination Notice of Eligibility upon application approval. This allows you to schedule the exam.

iii) Register, Take and pass the Ohio salesperson exam. The exam is 3 hours long, with 80 questions (2 hours) on the national  portion and 40 questions (1 hour) on the state portion. There is a $59 exam fee. To pass, you'll need to answer at least 75% correctly for the national portion and 75% correctly for the state.

iv) Upon passing the exam, you will be issued a real estate license.

 

2) License Renewal and Continuing Education Requirements

Ohio real estate licenses are valid for 3 years. To continue practicing as a real estate agent in Ohio, license renewal fees and continuing education must be completed prior to renewal.

The continuing education requirement is 30 hours including 3 hours each in Civil Rights, Core Law, and Canons of Ethics. There is a renewal fee of $117 for 3 years.

 

3) What is a REALTOR®?

A real estate agent is a REALTOR® when he or she pays an annual fee to be a member of the National Association of REALTORS® and subscribe to its Code of Ethics.

The agent generally join through the local board or association.

For example, in Cleveland, OH once you have obtain your real estate license, you may pay a fee to join the CLEVELAND AREA BOARD OF REALTORS®

Joining the local boards makes you a member of the Ohio Association of REALTORS® and the National Association of REALTORS®.

All REALTORS® are real estate agents but not all real estate agents are REALTORS®.

 


4) Income Potential
Real estate agents are generally paid based on a percentage of the sales price. The seller may pay 4 to 7% of the sales price as the fee and that will usually be split 50/50 between the seller and buyer's broker.

In Columbus, OH, the 2004 median home price is approximately $147,000. Assume that the fee is 6%, the buyer's and seller's broker is each paid 3% or $4410.

This fee is then split further between the broker and agent. Generally, for starting agents, the split is 50/50. So in this case, the agent will end up receiving $2205 for the transaction.

There is no limit as to how much an agent can make in a year - the sky's the limit.

Based on Columbus' median home price and the above example, a real estate agent in Ohio can make about $22,050/year by selling 10 houses a year. By selling one house per week, the real estate agent in Ohio will have a salary of $114,660.


5) Real Estate Schools

The first step to becoming a real estate agent in Ohio is to take the required classes at an approved real estate school. School status may change so it is best to call the Ohio Real Estate Commission at 614.466.4100 prior to signing up for a class.

Below are real estate schools in Ohio that are currently approved by the Ohio Real Estate Commission.

 

Real Estate Schools in Akron, OH:

Southern Ohio College University of Akron
2791 Mogadore Rd. Community & Technical College
Akron, OH 44312 Akron, OH 44325-6002
(888)300-7854 (330)972-7391

 

Real Estate Schools in Cincinnati, OH:

Cincinnati State The Ohio State University – Hamilton County
Technical & Community College 110 Boggs Ln., Suite 315
3520 Central Parkway Cincinnati, OH 45246
Cincinnati, OH 45223-2690 (513)946-8989
(513)569-1500  
 
University of Cincinnati  
Mail Location 63  
Cincinnati, OH 45221-0063  
(513)556-6000  

 

Real Estate Schools in Cleveland, OH:

Cuyahoga Community College
700 Carnegie Ave.
Cleveland, OH 44115.2878
(216)987-5293

 

Real Estate Schools in Columbus, OH:

Columbus State Community College
550 E. Spring St.
Columbus, OH 43215-1722
(614)227-2400