Who Grants a License: Licenses are granted by the State of Oregon Real Estate Agency (“OREA”).
Qualifications to receive a License: A candidate must complete 150 clock hours of study at an OREA-approved real estate school (search schools here), pass a school-administered final exam, and pass a state exam. All candidates must submit a full set of fingerprints, and pass a background check. All candidates must be at least 18 years of age, and have a high school diploma or equivalent. For more information about qualifications, see the page titled Broker License Requirements on the OREA website. NOTE: All real estate licensees in Oregon are considered brokers. Each licensee is responsible for his/her own actions.
Applying for the Exams: Prior to taking the pre-licensing education, and applying for the exam, a candidate should complete a real estate license application through the OREA eLicensing system. When the application is processed, OREA sends the candidate an application ID number. The candidate then selects an OREA-approved pre-licensing curriculum provider, and provides the applicant ID number to the provider. Upon completion of the pre-licensing curriculum, the provider transmits the application ID number to PSI (the testing vendor). At that time, the candidate should apply to take the state exam through the PSI website scheduling page. For more information, see the Oregon Real Estate Agency Real Estate Broker Candidate Information Bulletin
Test Content: The Oregon state real estate licensing exam is comprised of two separate portions, the national portion and the state-specific portion. Five to ten questions disbursed throughout both portions of the exam are considered "experimental", and are not scored. Both tests are comprised of multiple choice questions with four answer choices provided for each question. Test takers are allotted 120 minutes to complete the national portion, and 75 minutes to complete the state-specific portion. A score of at least 75% is required to pass. The exam is presented in a computer-based format, but accommodations for paper-based tests and/or oral testing can be provided with special arrangements.
The national portion of the test consists of 80 questions, and tests the candidate's knowledge of general real estate concepts, including the following subject areas:
Property Ownership
Land Use Controls and Regulations
Valuation and Market Analysis
Financing
Laws of Agency
Mandated Disclosures
Contracts
Transfer of Title
Practice of Real Estate
Real Estate Calculations
Subdivisions
Commercial, Industrial, and Income Property
The state-specific test consists of 50 questions, and tests the candidate's knowledge of the state-specific concepts, including the following subject areas:
License Law and Disciplinary Measures
Handling of Clients’ Funds
Agency Law and Rules
Regulation of Broker Activities
Document Handling and Recordkeeping
Property Management
Oregon Real Estate Related Statutes
How to Apply for the License: Most of the required documents will be submitted prior to taking the pre-licensing education (see above "Applying for Exams"). Candidates must provide OREA with the following documents: (1) completed eLicensing and application fee; (2) original Oregon state real estate licensing exam score report(s); (3) certificate issued by an OREA-approved school for completion of the 150-hour salesperson pre-licensure curriculum; and (4) a full set of fingerprints, which are taken at the PSI testing center.
NOTE: All new brokers must affiliate themselves with a principal broker before the active license will be issued. ALSO NOTE: License exam scores and background check clearances are each good for one year. OREA can issue a license only while the relevant scores and background check clearance are valid.
Fees: OREA charges a license application fee. For updated information, see Costs of Becoming Licensed on the OREA website.
Who administers the test: OREA and PSI.
License Renewal Requirements – A Oregon real estate licensee must take 30 credit hours of continuing education (either online or in the classroom) from an OREA-approved provider every two years. Further information is provided on the OREA website, here.
Applicable Regulations: Real estate licensees in Oregon are regulated under ORS Chapter 696, and the Oregon Administrative Code, Chapter 863.
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