Becoming a Rhode Island Real Estate Agent
This is a great place to begin the process of becoming a real estate agent in the state of Rhode Island, continuing on to become a Realtor assisting consumers to buy and sell. The information provided details how to enroll in a real estate school, real estate training courses, continuing education, tests and requirements, license renewal information, forms needed and general information through theRhode Island Department of Business Regulation Real Estate Commercial Licensing Division.
Division of Commercial Licensing and Regulation issues the licensing and regulation of Real Estate salespersons, brokers and appraisers. Rhode Island real estate law requires examinations for all real estate brokers, salesperson, and real estate appraisers. The Real Estate commission grants Licenses and Certificates to real estate schools for administering educational requirements and compliance. In addition, the Real Estate Division has the authority to accept and investigate complaints against a Real Estate Agent or Real Estate Broker and/or Brokerage Firm. This is carried out to maintain License compliance with Rhode Island State laws, rules and regulations to further protect the public at large.
The Division of Commercial Licensing and Regulation of the Rhode Island Department of Business Regulation administers all licensing and regulation for real estate agents in Rhode Island.
To obtain a real estate salesperson license in Rhode Island, applicants must be at least 18 years of age and successfully complete at least 45 hours of real estate education through an approved school. All applicants must also pass the real estate salesperson examination. There is a $70 examination fee and a $100.00 application fee when applying for the license, which includes a $25 Real Estate Recovery fee. Registration for the examination including location and class policies can be found through Pearson VUE.
A Rhode Island Real Estate Agent must provide a statement verifying the salesperson applicant is competent, trustworthy and qualified to be granted a license. The salesperson applicant also needs to provide references from three (3) property owners who have known the applicant for at least three years who will attest to the applicant's good reputation for honesty and trustworthiness.
Applicants for a Broker's License are required to provide evidence of having at least one-yearfull-time experience as a real estate salesperson immediately prior to applying or having successfully completed 90 hours of approved classroom real estate courses. Applicants who have a Bachelor's Degree with a major in real estate from an accredited college or university may have the education requirement waived. All applicants must pass the Real Estate Broker examination. There is a $10.00 application fee for a Broker's License.
Continuing education requirements. In order to renew their license every two years, all Agents and Brokers must complete 24 hours of continuing education credits. All 24 credits must be obtained through specific, approved real estate courses. Of the 24 required credits, 6 must be core classes approved for continuing education.
The renewal fee for a broker license is $170.00 for two years, and a salesperson license is $130.00 for two years. This renewal fee must be paid by the expiration date of April 30th in even-numbered years. Effective July 30, 2004, the fee for late renewal of either a salesperson or broker license is $100.00 in addition to the license fee.
Rhode Island hasreciprocity agreementsfor either a salesperson or broker license with Connecticut and Massachusetts. The applicants need to be a resident of one of these states, licensed by examination, and in good standing. Their fees are the same as Rhode Island resident agents, plus an additional $25.00 payable to the Real Estate Recovery Account. Non-resident licensees must carry and maintain Errors and Omissions Insurance. Non-resident reciprocal license applicants need to meet the continuing education requirements of their home states, rather than those of Rhode Island.
Real estate careers reach beyond obtaining a real estate sales person's license. Affiliations and membership with the many other real estate related organizations like the National Association of Real Estate Brokers (NAREB), The Association of Real Estate License Law Officials (ARELLO) and The National Association of Realtors (NAR), the world's largest professional association, are excellent resources for real estate education and professional enrichment.
Rhode Island Real Estate Agent Candidate Handbook
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