Iowa Real Estate Continuing Education FAQ

IOWA REAL ESTATE FREQUENTLY ASKED QUESTIONS

What are my Iowa real estate continuing education requirements?

Iowa real estate Salespersons and Brokers are required to complete 36 hours of continuing education each three-year licensing cycle. The 36 hours of education must include 8 hours of law updates, 4 hours of ethics, and 24 hours of elective courses. Note: Only 24 hours may be taken by correspondence/only course each three-year renewal period.

How often must I renew my Iowa real estate license?

Iowa real estate licenses must be renewed every three years.

When do I need to renew my Iowa real estate license?

Iowa real estate licenses must be renewed prior to December 31^st in your licensing year. The 2017 renewal cycle will be available starting in mid-November. You cannot renew your license before the cycle is open.

Does the education provider report my continuing education to Iowa Real Estate Commission?

The Iowa Real Estate Commission does not require education providers to report continuing education completions.

How do I renew my Iowa real estate license?

Starting in November 2017, license renewals will be processed through Iowa PLB. The renewal period will begin on November 16, 2017. You’ll need to create your Iowa PLB account to use the system. You cannot renew before the cycle is open. To get started, visit the Iowa Real Estate Homepage, and follow the link for the current renewal cycle at the bottom of the page. The renewal deadline is December 31, 2017.

How much does it cost to renew my Iowa real estate license?

$125 | Salespersons
$170 | Brokers

I missed the due date for my Iowa real estate license renewal, can I still renew?

Yes. Licensees may renew their Iowa real estate license through January 31^st of the following year. Example: If your license expired on December 31, 2017, you have through January 31, 2018 to renew your license. A late fee of $25 will be charged in addition to your license renewal fee.

Do I have to complete any continuing education if my Iowa real estate license is inactive?

An inactive license is a broker or salesperson whose license is on file with the Real Estate Commission on inactive status and during which time the licensee is precluding from engaging in any acts that require an active real estate license.

Does Iowa have reciprocity with other states?

Yes. Iowa Real Estate Commission has reciprocal agreements with the following states:

Arkansas
Georgia
Louisiana
Massachusetts
Minnesota
Mississippi
North Dakota

Please read the Reciprocity licensing requirements carefully to see if you qualify. If you do not qualify for reciprocity, please review Rule 5.3 licensing instructions.

HOW TO OBTAIN AN IOWA REAL ESTATE LICENSE

How do I obtain an Iowa salesperson or broker real estate license?

Salesperson Qualifications:

Must be 18 years of age at the time of application – no residency or citizenship requirement
Undergo a criminal history and background investigation. Note: This process alone can take up to a minimum of four weeks, and can be started at any time. Criminal history backgrounds are valid for 210calenar days.

Broker Qualifications:

You must have 24 months of active salesperson experience before you can apply for a broker license.

Step 1: Complete the required education

Salesperson requirements – 96 hours of salesperson pre-license education

Complete a 60-hour pre-license course from an approved provider
Complete the following three courses from an approved provider
- 12-hour Buying Practices
- 12-hour Listing Practices
- 12-hour Developing Professionalism and Ethical Practices

All the above-mentioned education may be taken in any order. All education must be completed within the 12 months preceding the date of your application.

Broker requirements – 72 hours of broker pre-license education

Contract Law and Contract Writing – 8 hours
Iowa Real Estate Trust Accounts – 8 hours
Principles of Appraising and Market Analysis – 8 hours
Real Estate Law and Agency Law – 8 hours
Real Estate Finance – 8 hours
Federal and State Laws Affecting Iowa Practice – 8 hours
Real Estate Office Organization – 8 hours
Real Estate Office Administration – 8 hours
Human Resources Management – 8 hours

Step 2: Pass the state and national portions of the examination

To be eligible for the exam you must have already completed the education mentioned above. Both portions of the exam must be valid at the time the Commission’s office received your application. Exams are valid until the last working day of the sixth month following the exam pass date. Example: A test passed on any day in June 2017 is valid until December 29, 2017.

The exams are given by appointment only. You must contact Psychological Services, Inc. (PSI) to schedule a time and place to take the exam. Exam fees for all exams are $95. PSI has testing sites in West Des Moines, Cedar Rapids and Council Bluffs. Please review the PSI Bulletin for additional information.

Step 3: Obtain Errors and Omissions insurance

All active licensees (broker, salesperson, corporation, LLC partnership, etc.) must carry uninterrupted E&O insurance coverage in Iowa. Proof of coverage must be provided with all new application, when reactivating an inactive license to active status if the license has been inactive for more than 20 days, and if selected for a random E&O audit by the Commission. Proof of coverage is also required to be included with transfers.

The group coverage insurance policy selected by the Commission is with Rice Insurance Services Company, LLC (RISC.)

Step 4: Submit a completed application

You will receive an application from the testing service when you pass the exams. At this time you must be sponsored by a broker, and you cannot apply for an inactive license.

IOWA REAL ESTATE LICENSE RENEWAL REQUIREMENTS