Beyond Bending Tell You How
If you’re interested in pursuing a career in real estate in Alaska, you’ll need to obtain an Alaska real estate license. The process of getting your license can seem overwhelming at first, but with the right information and guidance, it can be a relatively straightforward process.In this guide, we’ll walk you through the steps you need to take to get your Alaska real estate license. We’ll cover everything from the education requirements to the exam and licensing process, so you’ll have all the information you need to get started.
Education Requirements for an Alaska Real Estate License
Before you can apply for an Alaska real estate license, you’ll need to meet certain education requirements. The Alaska Real Estate Commission requires that you complete a certain number of pre-licensing education hours before you can take the licensing exam.According to the Alaska Real Estate Commission, you must complete the following courses before you can apply for an Alaska real estate license:
- Real Estate Principles and Practice: 60 hours
- Alaska Real Estate Law: 30 hours
- Real Estate Appraisal: 30 hours
- Real Estate Finance: 30 hours
- Real Estate Economics: 15 hours
The Alaska Real Estate Exam
Once you’ve completed your pre-licensing education hours, you’ll need to take the Alaska real estate exam. The exam is administered by Pearson VUE, a testing company that provides exams for a variety of professions.The Alaska real estate exam consists of two parts: a national portion and a state-specific portion. The national portion covers topics such as contracts, financing, and property ownership, while the state-specific portion covers Alaska real estate laws and regulations.To pass the Alaska real estate exam, you’ll need to score at least 70% on each portion of the exam.
Applying for an Alaska Real Estate License
Once you’ve passed the Alaska real estate exam, you can apply for your Alaska real estate license. The Alaska Real Estate Commission requires that you submit your application within six months of passing the exam.In addition to your application, you’ll need to submit the following documents:
- Proof of completion of your pre-licensing education hours
- Proof of passing the Alaska real estate exam
- Fingerprint cards and a criminal background check
- Proof of errors and omissions insurance
The Cost of an Alaska Real Estate License
The cost of obtaining an Alaska real estate license can vary depending on several factors. Some of the costs you can expect to incur include:
- Pre-licensing education courses: $500-$1,000
- Alaska real estate exam fee: $150
- Alaska real estate license application fee: $265
- Fingerprinting and background check fees: $60-$80
- Errors and omissions insurance: $300-$500 per year
Maintaining Your Alaska Real Estate License
Once you’ve obtained your Alaska real estate license, you’ll need to renew it every two years. The Alaska Real Estate Commission requires that you complete 20 hours of continuing education during each two-year renewal period.In addition, you’ll need to pay a renewal fee of $265 and provide proof of errors and omissions insurance.
Why Get an Alaska Real Estate License?
If you’re interested in pursuing a career in real estate, getting an Alaska real estate license can open up a wide range of opportunities. With your license, you can work as a real estate agent, broker, appraiser, or property manager.In addition, getting your Alaska real estate license can provide you with the knowledge and skills you need to succeed in the real estate industry. You’ll learn about real estate law, finance, and economics, as well as how to market and sell properties.
Alaska Real Estate License FAQs
Here are some common questions and answers about obtaining an Alaska real estate license:
How long does it take to get an Alaska real estate license?
The amount of time it takes to get an Alaska real estate license will depend on how quickly you complete your pre-licensing education and pass the licensing exam. In general, the entire process can take anywhere from a few months to a year.
Can I take the Alaska real estate exam online?
No, the Alaska real estate exam must be taken in person at a Pearson VUE testing center.
Do I need to be a resident of Alaska to get an Alaska real estate license?
No, you do not need to be a resident of Alaska to obtain an Alaska real estate license. However, you will need to meet the same education and licensing requirements as residents.
What is the pass rate for the Alaska real estate exam?
The pass rate for the Alaska real estate exam varies from year to year. According to the Alaska Real Estate Commission, the pass rate for the national portion of the exam in 2020 was 66%, while the pass rate for the state-specific portion was 68%.
Conclusion
Obtaining an Alaska real estate license can be a rewarding and lucrative career path. By completing the required education and passing the licensing exam, you can become a licensed real estate agent, broker, appraiser, or property manager.Remember to keep up with your continuing education and license renewal requirements to ensure that your license stays active. With hard work and dedication, you can build a successful career in the Alaska real estate industry.
