Obtaining your real estate license in Iowa is a bit more complicated of a process than other states that will require a lengthy time commitment and the passing of a final and state exam. After meeting the basic requirements required by the state of Iowa to obtain your license, you will begin by completing the 30 required hours of pre-licensing work from an accredited Iowa real estate institution. With different options across the state, the choice can be a bit overwhelming. To aid in your decision-making, we’ve rounded up the best real estate schools in Iowa for you to take a look at. Regardless of where you reside in the state, there are many qualified institutions that offer online education.
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Best Real Estate Schools in Iowa
Real Estate Express
Iowa Real Estate School FAQ
How Do I Get My Real Estate License In Iowa?
To obtain your real estate license in Iowa, you will need to do the following:
1. Meet Requirements. Currently, the only requirement for obtaining your real estate license in Iowa is to be 18 years or older.
2. Pre-Licensing Coursework. After meeting the basic requirements, you will begin the coursework process. This consists of 60-hours as mandated by the state of Iowa. You will need to pass your coursework and ultimately pass the final real estate school exam before continuing on to the next step.
3. Live Classroom Instruction. Unfortunately, just because you’ve completed your pre-licensing coursework does not mean you’re in the clear. The next step will include an additional 36 hours of live instruction. These courses include best practices for: buying, listing, and developing professionalism and ethics. Each is 12 hours long. *This coursework does not need to be completed prior to moving forward with the state testing and licensing process.
4. Background Check. Once you’ve completed your pre-licensing work, you will need to submit your information to the state of Iowa for processing. It goes without saying, but you will need to pass this background check in order to become a licensed real estate agent in Iowa. This process can take up to a month as federal and state databases are referenced.
5. Complete State Exam. To pass the Iowa state licensing exam, you will need to score above 70%.
6. Once you’ve taken all required coursework and passed the state exam, you will want to purchase errors and omissions (E & O) insurance and locate a brokerage to sponsor and mentor your beginning stages of real estate.
How Long Does It Take To Become A Real Estate Agent In Iowa?
The length of time it takes to become a licensed real estate agent in Iowa can vary. At the basest level, you can expect it to take 96 hours, which include the 60 hours of pre-licensing coursework and 36 hours of live instruction add-on coursework. From there, the process for your background check, finding a sponsoring broker, and obtaining a test date can vary.
How Much Does It Cost To Get A Real Estate License In The State Of Iowa?
The price for obtaining your real estate license in the state of Iowa will depend on the institute you choose to study at. The pre-licensing courses can range in price from $200-$600 or more and then you will need to add the cost of the additional live-instruction coursework. Additionally, exams will cost $95. The background test without a waiver is currently priced at $51.00. Together, the total can begin at roughly $400 and go up from there.
How Much Do Real Estate Agents Make In Iowa?
On average, real estate agents make about $86,140 in Iowa. Top earners and those in the businesses for a decade or more can make well into the hundreds of thousands. At the low end, for inexperienced agents or ones with sparse clientele, the figure could drop down to $35,000 or so.
Does Iowa Have Licensing Reciprocity With Other States?
Yes! Iowa has one of the most robust reciprocity lists in the country. States eligible for license reciprocation include nearby Arkansas, Louisiana, Minnesota, Mississippi, North Dakota, Georgia, and Massachusetts. The process to transfer is relatively easy and you should contact the Iowa or desired state’s real estate office for more information.
How Many Licensed Real Estate Agents Are There In Iowa?
There are an estimated 4,000 or so licensed real estate agents in Iowa.
How Difficult Is It To Become A Real Estate Agent In Iowa?
Though the process has a few more steps than other states, it is not difficult to obtain your license in Iowa. In simply following the above mentioned process or being sure to follow all rules outlined by your chosen real estate institute, the process should be seamless.
Do I Need A College Degree To Become A Real Estate Agent In Iowa?
Nope! Iowa does not have an education requirement for those hoping to become real estate agents. The only requirement is that you are 18 years or older.
What ID Will I Need To Get A Real Estate Agent In Iowa?
The ID required to become a real estate agent in Iowa will need to satisfy background check requirements. These documents may include a Social Security card, state ID, or birth certificate. Additionally, Iowa does not have a residency or citizenship requirement for agents. If you do not have the above-mentioned documents, be sure to supply any alternatives that help to verify identity.
If I Have A Felony Record, Can I Become A Real Estate Agent In Iowa?
Whether or not you can become a licensed real estate agent in Iowa with a criminal record varies and is considered on a case-by-case basis. Crimes that are cause for concern when it comes to representing clients with integrity include: extortion, theft, arson, embezzlement, conspiracy to defraud, forgery, and similar crimes. You will want to contact the Iowa Commission Staff for questions; however, the general rule of thumb is a five year waiting period from the time of a completed sentence or settlement in court.
How Many Times Can I Take The Iowa Real Estate License Exam?
You can retake the Iowa licensing exam as many times as it takes to pass, however, you will pay the $95 fee each and every time.
What Is Covered In The Iowa Real Estate License Exam?
The Iowa Real Estate License Exam consists of a state and national portion, both of which must be passed to qualify for a license. The test is a multiple-choice exam and will have a total of 120 questions, 80 of which are state related and 40 are the national portion. Through one test, the two sections will be scored separately, and you must pass each with a 70%.
Can I Practice Real Estate Without A License In Iowa?
No. You may not practice without a license in Iowa, even if licensed in another state. Not only is it criminal, it is also extremely dangerous for all parties involved.
What Score Do I Need To Pass The Iowa Real Estate Exam?
To pass the Iowa real estate exam, you will need a score of 70% or higher on both the national and state portion.
Are There Continuing Education Requirements For Real Estate Agents In Iowa?
Yes. Every three years agents are required to complete continuing education. Typically, this requirement will be fulfilled with 36 hours of coursework including a required eight hours in law and four hours in ethics. The other credits can consist of electives.
What Do I Need To Bring To The Iowa Real Estate Licensing Exam?
The only thing you will need to bring for your Iowa real estate licensing exam, and the only thing permitted in the testing room, is identification. Nothing else will be allowed in with you and the exam administrator recommends leaving everything else in your car or at home.
What Happens If I Fail The Iowa Real Estate Licensing Exam?
First things first – don’t panic! The real estate licensing exam is lengthy and stressful. If you fail on your first try, you are eligible to retake the exam so long as it is within a year of completing your coursework. Depending on your real estate school, you may have a built-in retake credit as well.