How To Become A Real Estate Agent in Alaska

Working as a real estate agent comes with many advantages. Many agents who decide to start their journey of becoming a real estate agent in Alaska start on the quest to build a business that offers more of a flexible schedule.

Others want to simply break the glass ceiling and enter a career that rewards them for all the hard work and effort they invest into it. If you are tired or feel stuck in an unrewarding job now might be the perfect time to chase your goals and become a real estate agent.

Do you have what it takes to work as Alaska Real Estate Agent? If yes, let’s dive into the basic steps of getting your real estate license in Alaska.

How To Become A Real Estate Agent In Alaska

Must be at least 19 years of age

Complete 40 hours of approved pre-licensing examination

Not be undercharge or accused of any crime

Pass the Alaska real estate salesperson exam

Apply for a license within the six months after clearing the exam

Must have worked with a licensed real estate broker

Submit your license application by Examination application for a permit under a broker with the required fee.

Choose Your School And Sign Up For Classes

Before you can start listing million dollar homes the very first step toward getting your Alaska License is choosing your classes and completing the mandatory educational requirements set by the state to become a real estate agent.

Alaska Real Estate Classes

To become a licensed real estate agent in Alaska, you should complete your state’s mandatory education requirements. In total, you are required to get 40 hours of state-approved courses for pre-licensing.

Check here for state-approved Alaska real estate classes and pricing. If you have an active real estate license from any other state, you have to take the only following:

6 hours of Alaska Law Part of Pre-License course
Test of the Alaska Law Part

What should I bring with me for exam?

The candidates should bring with them two forms of current signature identification. The government should issue the primary identification having a photo with signature. However, secondary identification can contain a valid signature only. Applicants should have a calculator with them also.

What Will I Learn In My Pre-License Classes?

I remember sitting in my real estate pre-licensing class. For many, real estate is like learning an entirely new language. In class you will learn many new things. One of the most important being state laws as they relate to you as a real estate agent. This will help keep you out of legal trouble once you get out in the field and start practicing real estate. Here are some subjects you will learn about in real estate school.

Real estate math

Land use laws and regulations

Fair Housing laws

Real Estate Financing

Contracts

Transfer of title

Brokerage relationships

Disclosures

Property analysis

Rules of the Alaska Real Estate Commission

License law

Ethics

Agency Laws

To become a licensed real estate agent in Alaska you need to finish your state’s mandatory education requirements. You will be required to complete 40 hours of state approved courses for pre-licensing

Schedule Your Alaska Real Estate Salesperson License Exam

In Alaska your real estate exam will be administrated by Pearson Vue

It is recommended you call and schedule with a customer service representative. Here are a couple important things to know.

This test can be taken by computer at the testing center.

This is not an open book test.

Test must be scheduled at least one day in advance.

Current Test Center Locations in Alaska – Testing Locations

Alaska Real Estate License Background Check

License will not be issued if applicants are convicted of any criminal activity like theft, forgery, extortion, felony, fraud, and conspiracy. In case the applicant has completed the sentence, there should be a gap of seven years before it will be considered.

What Is The Best Way To Study For The Alaska Real Estate Exam?

Many people fail the Alaska real estate exam the first time around. This is ok. Many of the great real estate agents having huge success today failed their exam the first time around. The bad news is that it costs money to retake your exam. At the time of writing it is $95 to take the Alaska Real Estate exam.

It is $100 to take the Alaska Real Estate exam.

To increase the chances of passing your exam the first time we recommend checking out Prep Agent. This study tool gave me and many other agents a huge boost in confidence when taking the real estate exam.

In fact, Prep agent is so confident in their study tool that they offer a 100% refund if you use the tool and fail your real estate exam.

What Do You Need To Bring When Taking The Exam At A Testing Center?

Don’t show up on test day only to be turned down. You will need to bring two forms of identification that have not expired and have a matching name and signature. One form of identification must have a photo to qualify. Here are some examples of accepted identification.

Driver’s license

US social security card

Passport

Debit Card with Signature

Credit Card with Signature

Green Card

You are allowed to bring a basic nonscientific calculator that can be used for the math portion of the exam.

How Long Will I Have To Complete The Alaska Real Estate Exam?

The Real Estate exam for Salespeople consists of two portions and is conducted by Pearson Vue.

General Law- 80 questions ( Time: 2.5 hours)

Alaskan Law- 40 State Law questions (Time: 1.5 hours)

A minimum score of 75 is required to clear the exams. The time limit for completing the exams is four hours.

Pass Or Fail- How Long Does It Take To Get Results?

Taking the real estate exam can be nerve racking. Once complete we all become anxious and want to know if we passed or failed the big test. The good news is that you will know the results immediately after you complete your exam.

Can I Retake The Real Estate Exam If I Fail?

Yes, if you fail, you can retake the real estate exam. You must submit a new registration form and the $100 testing fee to schedule to take the test again.

But stay positive; many agents have failed the real estate exam multiple times and have gone on to have very successful careers.

How Long Does It Take To Become A Licensed Real Estate Agent In Alaska?

I am sure you are excited and want to get licensed ASAP. You should expect the process to take about 4 to 5 months to become an Alaska Real Estate Agent. The two most time intensive parts of the process are completing your 40 hours of real estate pre-license classes, clearing exams, working for a real estate broker licensed in Alaska. The average time from start to finish may differ take 3-6 months.

Aside from just completing your real estate classes and studying you will need to spend your time doing other important things like interviewing brokerages and deciding which one is the right fit for you and your new business.

This is just an average timeframe. Keep in mind everyone works at a different pace. If you are taking some of your courses online you may be able to work through the course work a little faster or maybe it takes you a little more time to get through the course work.

Either way try not to overwhelm yourself and focus on getting a little further along in the process each day. Many people set out on the journey to become a Alaska agent and quit before they even start because they simply overload themselves with work. Keep the focus on working toward your goal little by little each day.

How Much Does It Cost To Get A Alaska Real Estate License?

It will cost around $850-$1000 to get your Alaska Real Estate License. Some of these costs are

Examination Fee (Salesperson- $100)

Recovery Fund Fee ($50)

License Fee ($140)

Non-refundable application fee ($200)

Pre-License Course Fee (Around $375-$499)

Note: These are subject to change at any time. So visit the website to stay updated.

Total Alaska Real estate license cost estimate $990

Note- These are just averages and subject to change at any time.

Does Alaska have reciprocity with any other states regarding a real estate license?

Alaska offers reciprocity to out-of-state applicants if their license has a period of a year or more. But they have to clear the state law portion of the Alaska Real Estate exam.

Concerning other states, the following mentioned states offer reciprocity to any other state but with additional requirements.

Alabama
Colorado
Georgia
Idaho
Indiana
Kansas
Washington
Vermont
Tennessee
South Dakota
Rhode Island
North Carolina
Nebraska
Maine

However, none of the states have particularly mentioned Alaska in their reciprocity.

How To Choose The Right Brokerage?

Selecting your broker is a business choice that we all have to make at some point in our career. As a new agent you likely do not know what to look for or what questions to ask. As an experienced agent who has worked at multiple offices here are some things to consider.

Training- This is important. One of the biggest complaints I hear from new real estate agents is how lost they often feel. Many times they feel the brokerage they choose to partner with has poor mentorship or even worse no mentorship at all. When interviewing brokers it is important that you ask if they have a mentorship program in place for new agents. If the answer is yes make sure you dig deeper and ask how the program works. What are the expectations for the new agent and what are the expectations for the mentor. You need to find out how much support and training they actually provide.

Splits- Every brokerage offers a different compensation model and as a new agent this is important to consider. However, do not make this your main focus. I see many new agents make commission splits the main reason they choose a brokerage. This can be a huge mistake. Focus on what kind of value and training is being offered for that split. The harsh truth is that 100% of nothing is still nothing.

Ongoing monthly fees- Some brokerages charge monthly fees to stay apart of the company. This is something to consider if you have a small savings account. As a new agent you might be looking to stretch your dollar until you get a couple closings under your belt. Joining a company with high ongoing monthly fees can put a dent in your savings account.

Commission Cap- This is in the same boat as commission splits in my opinion. As a new agent this should not be your main focus. You should be focused on support and training. However, as a business person it is a question you should be asking. Some brokerages will cut off your commission fees once you “cap”. Every brokerage and market is different but on average we have seen the brokerage cap between 14k-21k. Once you pay that amount into the brokerage your commission will shift to 100% in some cases with a small broker transaction fee.

Conclusions

Becoming a real estate agent in Alaska is something worth working towards. To make this all happen it is going to require work and consistency but if you love the idea of selling homes in Anchorage, Wasilla, or any other city in Alaska it is worth all the effort and hard work to make your dream become a reality. Study hard and do not quit even if you fail your exam the first time around. Many of the greatest agents I know today in my local market did not pass the exam the first time around.