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 Iowa 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 a Wyoming Real Estate Agent? If yes, let’s dive into the basic steps of getting your real estate license in Iowa.
How To Become A Real Estate Agent In Wyoming?
- Must be at least 18 years of age
- Be a citizen of the United States or a lawfully admitted alien
- Must have a high school diploma or GED
- Complete 54 hours of approved Pre-licensing Real Estate Course
- Pass Wyoming Real Estate Licensing Exam with a 70% score or higher
- Fingerprinting and Background check
- Licenses must obtain errors and omissions insurance
- Submit your license application after 90 days of passing the exam, along with the required documents.
Choose Your School And Sign Up For Classes
Before you can start listing million dollar homes, the very first step toward getting your Wyoming License is choosing your classes and completing the mandatory educational requirements set by the state to become a real estate agent.
Wyoming Real Estate Classes
Be prepared for some classroom time! To become a licensed real estate agent in Wyoming, you should complete your state’s mandatory education requirements. In total, you are required to get 54 hours of state-approved courses for pre-licensing.
Check here for state-approved Wyoming real estate classes and pricing. The good news is that the state of Wyoming allows you to take a portion of your real estate classes online. This is great because it will allow you to complete the course at your own pace and even possibly speed up the process if you put in the hard work.
In Wyoming, there are additional required courses that must be taken within 12 months of maximum in order to apply for your real estate license. Moreover, these courses should be taken in person or via a live camera class. This total an additional 54 hours of classroom time. After successful completion, you must provide evidence of completion of each of these courses. The 54 hours of classroom time are divided into 2 crucial parts:
- 30-hour Salesperson I
- 24-hour Salesperson II.
Wyoming Pre-licensing Education Requirements
You must complete 60 hours of state-approved real estate pre-license education along with 54 hours of additional training courses.
- 60 Hours of Slate Approved Real Estate Classes
- 12 hours of Buying Practices
- 12 hours of Listing Practices
- 12 hours of Developing Professionalism and Ethical Practices
Keep in mind you must score a 70% or higher on each final exam. So, it is important to pay close attention in class.
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 is 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 Iowa Real Estate Commission
- License law
- Ethics
- Agency Laws
To become a licensed real estate agent in Wyoming, you need to finish your state’s mandatory education requirements. You will be required to complete 54 hours of state-approved courses for pre-licensing.
Schedule Your Wyoming Real Estate Salesperson License Exam
In Wyoming, your real estate exam will be taken with PSI Exams. It is recommended you call and schedule with a customer service representative. Here are a couple of important things to know.
- This test can be taken by computer at the testing center.
- This is not an open book test.
- The test must be scheduled at least one day in advance.
Current Test Center Locations in Wyoming – Testing Locations.
Wyoming Real Estate License Background Check
The Wyoming Real Estate Commission requires all applicants to get their background check and fingerprinting. A $39 verified check or money order payable to Attorney must be sent along with fingerprint card. After submitting the fingerprint, your application for a background check will be forwarded to the Division of Criminal Justice Information Systems and to the Federal Bureau of Investigation. They will decide according to their own merit by reviewing the background report of each one.
What Is The Best Way To Study For The Wyoming Real Estate Exam?
Many people fail the Iowa real estate exam the first time around. This is ok. Many of the great real estate agents having huge success today failed their exams the first time around. The bad news is that it costs money to retake your exam. At the time of writing, it is $141 to take the Wyoming Real Estate exam on each attempt.
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 acceptable 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 non-scientific calculator that can be used for the math portion of the exam.
How Long Will I Have To Complete The Wyoming Real Estate Exam?
The Real Estate exam in Wyoming consists of two portions:
- National Section – ( Time: 2.5 hours)
- State Section – (Time: 1.5 hours)
- Total – 210 minutes
Number of Questions on Salesperson’s License Exams:
- National – 100 questions
- State – 32 State Law questions
- Total – 120 questions
However minimum score of 70/100 is required to clear the exams on the National Section. In the State section, the required score is 24/32. The time limit for completing the exams is four hours. You will get to know your exam scores immediately after you have completed the exam.
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, you can retake as many times as you want. But you must submit a new registration form and the $141 testing fee to schedule for every attempt you take.
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 Wyoming?
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 a Wyoming Real Estate Agent. The two most time intensive parts of the process are completing your 54 hours of real estate pre-license classes, fingerprint, and background check. The whole process for pre-license education and test preparation can 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 Wyoming 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 Wyoming Real Estate License?
It will cost around $900-$1100 to get your Wyoming Real Estate License. Some of these costs are fixed such as the FBI background check and exam fee.
- Finger Print Check – ($39)
- Pre-Licensing Education – ($600-$800)
- Examination Fee – (Salesperson – $141)
- License Fee – ($300)
Total Wyoming Real Estate license cost estimate is $1100.
Sign up for Wyoming Real Estate Classes Here: Real Estate Express.
Note- These are just averages and subject to change at any time.
Does Wyoming have reciprocity with any other states regarding a real estate license?
If you plan to work as a real estate agent besides Wyoming, then the state does not have any mutual agreements with any other state.
For other states wanting to acquire the license of Wyoming, they must finish and pass the exam of the law portion of salesperson course 1, salesman 2 course, and state license exam for a salesperson before applying for a license.
How To Choose The Right Brokerage?
Selecting your broker is a business choice that we all have to make at some point in our careers. 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, you must 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 of closings under your belt. Joining a company with high ongoing monthly fees can put a dent in your savings account.
Commission 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.
Conclusion
Becoming a real estate agent in Wyoming 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 Jackson, Casper, Cody, or any other city in Wyoming, 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.