When choosing the right Iowa realtors to help you with buying or selling a house, you need to find a qualified professional who understands the industry’s best practices. In fact, working with someone who is not licensed and experienced will not get you the best quotes and the perhaps the home of your dreams. Here is a breakdown of how Iowa realtors acquire their licenses to give you a sneak peek of what to expect from the right candidate.
Education: A realtor has to complete 60-hours Principles Course and 12 hours on approved topics such as Buying Practices, Ethical Practices, Listing Practices, and Developing Professionalism before the salesperson licensing exam.
Take Exam: A candidate should register and schedule a Psychological Services, Inc. (PSI) exam. It’s mandatory to pass the salesperson licensing exam.
Perform a Background Check: A candidate will have to undergo a background investigation to check his or her criminal history. At this stage, the Real Estate Commission will check the individual’s history for misdemeanor and felony charges through the Federal Bureau of Investigation (FBI), Iowa Courts and the Iowa Division of Criminal Investigation (DCI). The background check report is valid for 210 days and the commission will review it once it has received a complete application for licensing.
Obtain E & O Insurance: All Realtors in Iowa have to carry continuous E & O insurance coverage. And, every realtor has to provide proof of coverage for new applications.
Apply for State License: Once the above stages have been fully complied with, the budding real estate agent can apply for Individual License.
