How to obtain a license
Types of Licensing And Requirements psiexams.com
Provisional Sales Associate: A provisional sales associate (PSA) is an entry level licensee, which is under the supervision of a real estate broker. A PSA cannot enter into contractual agreements with a customer or client in his or her own name; therefore, all agreements must be for and in the name of their sponsoring broker. In order to apply for a PSA license, a person must be of good moral character, eighteen (18) years of age or older, and submit evidence to the Commission of successful completion of ninety (90) clock hours of basic real estate instruction, or its equivalent, that is approved by the Commission. Upon passing the state examination and obtaining a PSA license from the Commission, the PSA has a Part II post-license education requirement of forty-five (45) clock hours that must be completed within the first year of obtaining a license. The Commission has identified core subject matter that qualifies to meet this requirement. The Commission may approve other subject matter totaling forty-five (45) clock hours or more, but the licensee is responsible to seek approval of such course and it must be real estate related. Once a PSA has completed Part II of the course requirement and has provided the Commission with evidence of such completion, at the end of their one-year license term their license will be issued as a sales associate (SA) license (upon submission of the appropriate license renewal form and fees).
Sales: A sales associate (SA) license is the same as a provisional sales associate (PSA) license except: 1) the sales associate no longer has a forty-five (45) clock hour Part II post-license education requirement, but rather has a twenty-one (21) clock hour continuing education requirement each active license term; and 2) the sales associate license is a thirty six month renewable license, as opposed to the provisional sales license which is only a 12 month license.
If you are seeking a SA type of license and you are currently holding an active license in another state please contact the Oklahoma Real Estate Commission at 405-521-3387 for specific instructions. Upon passing the state examination a sales associate must work under the sponsorship of a real estate broker. A sales associate cannot enter into contractual agreements with a customer or client in his or her own name but must enter into such agreement for and in the name of their sponsoring broker.
Broker: A broker license allows a person to do business as a firm and sponsor licensed associates (provisional sales associates, sales associates or broker associates.) The broker will be responsible for activities of their associates. In order for an applicant to apply for a broker license, the applicant must be of good moral character, possess two (2) years of active experience, or its equivalent, as a PSA or SA within the last five (5) years, and submit evidence of successful completion of ninety (90) clock hours of advanced real estate instruction in a course that is approved by the Commission and pass the Broker’s examination.
A broker applicant may request the two years’ experience to be waived by submitting the Equivalent Point Application, along with all required supporting documents; however, no education course content may be waived. The broker applicant must show proof of successful completion in the basic, provisional post license (or its equivalent) and advanced course of study prior to qualifying for the broker examination. Upon passing the state examination, a broker has the option of applying for a license as a broker associate, proprietor broker, branch office broker, managing broker for a corporation or association, or as a broker partner of a partnership.
For additional information refer to the Broker Licensing Options. Reinstatement: If you have a lapsed license for less than three years and you are seeking reinstatement of a previously held Oklahoma License, please contact the Oklahoma Real Estate Commission for specific instructions. Anyone whose license has been lapsed for more than three years will be treated as an original applicant.