IOWA REAL ESTATE LICENSE RENEWAL REQUIREMENTS
Renewal Cycle: 3 Years
Renewal Deadline: December 31st
CE Requirement: 36 hours
Required Courses: 8 hours Law Update & 4 hours Ethics
Note: Only 24 hours may be taken by correspondence/online course each three-year renewal period.
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 31st 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 31st 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:
- North Dakota
HOW TO OBTAIN AN IOWA REAL ESTATE LICENSE
How do I obtain an Iowa salesperson or broker real estate license?
- 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.
- 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.