Working as a real estate agent comes with many advantages. Many agents who decide to start their journey of becoming real estate agents in Indiana 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 an Indiana Real Estate Agent? If yes, let’s dive into the basic steps of getting your real estate license in Indiana.
How To Become A Real Estate Agent In Indiana
- Must be at least 18 years old
- Must have a high school degree or GED.
- Complete all 90 hours of your real estate Pre Licensing Classes.
- Complete Background Check
- Schedule your exam with PSI exams
- Pass the Indiana Real Estate Exam with a 75% score or higher
- Pick A Sponsoring Broker
- Submit your license application
Choose Your School And Sign Up For Classes
Before you can start listing million-dollar homes, the very first step toward getting your Indiana License is choosing your classes and completing the mandatory educational requirements set by the state to become a real estate agent.
Indiana Real Estate Classes
Get ready for some classroom time! To become a licensed real estate agent in Indiana, you must first complete your state’s mandatory education requirements. In total, you will be required to complete 90 hours of state-approved courses for pre-licensing.
Click here for state-approved real estate classes and pricing. The good news is that the state of Indiana allows you to take a portion of your real estate classes online. This is great because it will enable you to complete the course at your own pace and even speed up the process if you put in the hard work.
Indiana Pre-licensing Education Requirements
You must complete 90 hours of state-approved real estate pre-license education. However, there are no additional training courses.
Keep in mind you must score a 75% 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. Of course, 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 Indiana Real Estate Commission
- License law
- Ethics
- Agency Laws
To become a licensed real estate agent in Indiana, you must first complete your state’s mandatory education requirements. In total, you will be required to attend 90 hours of state-approved courses for pre-licensing.
Schedule Your Indiana Real Estate Salesperson License Exam
In Indiana, 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 essential things to know.
- This test can be taken by computer at the testing center.
- This is not an open-book test.
- Tests must be scheduled at least one day in advance.
Current PSI Test Locations in Indiana: Testing Locations
Indiana Real Estate License Background Check
Anyone applying for an Indiana real estate license must pass a background check and verify fingerprints. Criminal background check in Indiana costs $38.2 per application. And fingerprints are accepted by Indiana’s preferred company only, Identogo and it costs $12.95.
Collectively you will be done with your background check for $51.15 which is a must according to Indiana law. It will take about 48 hours to five business days to complete the background check. FBI background checks may take longer than this, perhaps a month.
What Is The Best Way To Study For The Indiana Real Estate Exam?
Many people fail the Indiana 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. It is $53 to take the Indiana Real Estate exam at the time of writing.
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 massive 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.
- Drivers 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 you can use for the math portion of the exam.
How Long Will I Have To Complete The Indiana Real Estate Exam?
There are two portions to the exam:
- General (National) Portion – 150 minutes
- State Portion – 90 minutes
- Total- 240 minutes
Number of Questions on Salesperson’s License Exams:
- National – 80 questions
- State – 50 questions
- Total- 130 questions
The Indiana Real Estate exam is split up into two real estate exams. One state and one national. You will have a total of 240 minutes to complete both. ( 4 Hours )
To complete the Indiana State portion of the exam, you will have 90 minutes. For the national portion, you will have 150 minutes. Some people even complete their exams early. Do not stress; you have 4 hours to focus and get this done.
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 completing your exam.
Yes, if you fail, you can retake the real estate exam. First, you must submit a new registration form and the $53 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 Indiana?
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 Indiana Real Estate Agent. The two most time-intensive parts of the process are completing your 90 hours of real estate pre-license classes. And then completing your background check, which can take a month or two to complete.
Aside from just completing your real estate classes and studying, you will need to spend your time doing other vital 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 coursework 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 an Indiana 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 Indiana Real Estate License?
It will cost around $1068-$1,500 to get your Indiana Real Estate License. Some of these costs are fixed, such as the FBI background check and exam fee.
- $12.95 fingerprint fee
- $38.2 for background check
- $504 to $729 for pre-license courses
- $53 for Indiana real estate license exams
- $60 for Indiana real estate license application
- $300-$600 Realtor Board Dues
- $100 Any additional study aids or courses.
Total Indiana Real estate license cost estimate $1,068
Sign up for Indiana Real Estate Classes Here: Real Estate Express
Note- These are just averages and are subject to change at any time.
Does Indiana have reciprocity with any other states regarding a real estate license?
Indiana doesn’t have reciprocity agreements with any state. However, a candidate can still apply if the original state of licensure is substantially similar to Indiana. However, you will still have to pass the state law portion of Indiana licensing exams.
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. They often think the brokerage they choose to partner with has poor mentorship or, even worse, no mentorship at all. When interviewing brokers, it is crucial 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 primary 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 offered for that split. The harsh truth is that 100% of nothing is still nothing.
On going monthly fees- Some brokerages charge monthly fees to stay a part 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- This is in the same boat as commission splits, in my opinion. As a new agent, this should not be your primary 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 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 Indiana is something worth working towards. To make this all happen, it will require work and consistency. Still, if you love the idea of selling homes in Indianapolis, Fort Wayne, or any other city in Indiana, 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 most significant agents I know today in my local market did not pass the exam the first time around.