Did you know that the average real estate agent’s income in Rhode Island is nearly $89,000, with the potential to earn much more? If that statistic piqued your interest, keep reading!
The beginning of your successful real estate career starts here… By obtaining your real estate license in Rhode Island. This license allows you to represent sellers and buyers in real estate transactions, and today, we will show you how to get one in three simple steps.
Determine If You Meet the Eligibility Requirements
The main eligibility requirement for getting your Rhode Island real estate license is that you must be at least 18 years old. (You are not required to have a college degree, high school diploma, or GED.)
However, all applicants must meet a few other requirements before submitting their real estate license application:You must complete a 45-hour Sales Pre-licensing course, a 3-hour Agency Law class, and a code of ethics course before you are eligible to apply for a real estate license in Rhode Island. These courses teach you the industry’s legal aspects, anti-discrimination practices, real estate laws, and more. You can choose from several accredited real estate schools in Rhode Island that will help you build a solid foundation for your career.
- You must also complete a 3-hour Lead Paint Hazards/Awareness course. This course will teach you how lead paint issues can affect your future sales, lead paint legislation, where it’s commonly found, and how it affects one’s health.
- After taking your courses, you must pass the Rhode Island licensing exam with a 70% or higher score.
- The Rhode Island Real Estate Commission requires all applicants to have a background check before obtaining licensure. You will need to get a copy of your criminal history record from the Rhode Island Department of Business Regulation. The Attorney General’s office will notify the state agency if you are “qualified” or “disqualified” based on the findings. Applicants with a criminal background may not be eligible for real estate licensure.
- The principal broker at the brokerage where you plan to work must sign your application.
- Next, you must obtain Errors and Omissions Insurance before completing and submitting your application. E&O insurance is professional liability insurance that covers you against claims of negligent actions or inadequate work. This insurance is typically obtained through your broker.
- Lastly, you must include all applicable fees and required documents when submitting your application.
Pass the Required Rhode Island Real Estate Licensing Exams
After completing your courses, you must pass your licensing exam to get your real estate license in Rhode Island. The exam has 130 questions – 80 national questions and 50 state questions. You will have four hours to complete the test and must score at least 70% to pass. You will be notified of your score immediately after exam completion. You will register for the exam through the Pearson Vue testing website. This website offers additional resources, including content outlines and a candidate handbook.
Complete and Submit the Rhode Island Real Estate License Application
Now that you’ve met all eligibility requirements and passed your exam let’s discuss submitting your Rhode Island Real Estate License Application.
You can complete your application online. With your application, you will pay all applicable fees and upload the required documents:
- Test score report from Pearson VUE
- Certificate of completion for the 45-hour Pre-licensing course
- Certificate of completion for the 3-hour Lead Paint Awareness course
- Certificate of completion for the 3-hour Agency Law course
- Criminal history record from the Attorney General’s office
- Taxpayer status affidavit and identity verification
- Proof of E&O insurance
- Code of ethics course
The application process usually takes between 7-10 business days. You should then receive your license from Rhode Island Real Estate Commission. You can contact the Commission at (401) 462-9500 if you have any questions during this time.
Congratulations – you are now licensed by the Rhode Island Department of Business Regulation to participate in the buying and selling of real estate!
Are You Ready for Your New Career?
Compared to countless other industries, getting into real estate is easy. You don’t need tens of thousands of dollars for formal education or business start-up costs. You simply need to meet all eligibility requirements, pass your licensing exam, and submit your application, which can be done in less than six months!
Your career can be tailored to fit your talents and passions, whether buying and selling real estate, coordinating transactions, showing properties, or something else. Check out all the ways you can use your new real estate license here.
Are you ready to get your real estate license in Rhode Island and discuss your new career? We are excited to share our current and future positions with interested candidates today – we can’t wait to hear from you!