Meet John Tallarigo. John is the education content developer and is working on expanding PREC coursework into new states and additional courses for our current states. His interest in property law led him to get his real estate license while studying for the bar exam! John is a graduate of NKU Chase College of Law '16 and earned his undergraduate degree from Northern Kentucky University '11. He loves the Cincinnati Bengals!
A Complete Guide to Getting Your Real Estate Broker License in Kentucky
You’ve been licensed in Kentucky for a few years. You’ve hit your sales goals every year, mastered the 6 traits all great agents have, done countless transactions, and now you’re the expert agent at your broker company. What’s next? Audition for an off-Broadway production of Annie because I’m bald and like cigars like Daddy Warbucks?
No, you’re never fully dressed without your broker license! Whether you want to start your own broker company and have agents work for your, or whether you want to be a branch broker for one of the big guys, the next step is
getting your Kentucky Real Estate Broker License. This blog will give you a complete understanding of everything you need to do to get your broker license.
Age
According to the Kentucky statutes, you only have to be 18 to qualify for a broker license. The same information is written on the Kentucky Real Estate Commission website. However, you need to be licensed as a salesperson for at least 2 years before you can become a broker in Kentucky. At a minimum, you would need to be 19-20 years old, and even then, depending on your experience and education, you may not be licensed.
Experience & Education
The general rule for meeting the experience and education requirements for Kentucky is that you have to be licensed as a sales associate for at least 2 years and you must complete 336 classroom hours of real estate courses. That seems like a lot, but it can be very manageable if you have some college credits. So, what do these numbers really mean?
The 2-year licensure requirement means that you must have been licensed as a sales associate averaging at least 20 hours per week for a minimum of 24 months before sending in your application. So, part-time sales associates can qualify for a broker license. You can also lower this requirement to 1 year of licensure if you have an associate degree in real estate or a bachelor’s degree with a major or minor in real estate.
The Kentucky Real Estate Commission also accepts academic credits from colleges and universities as classroom hours in real estate. The Commission will accept up to 9 academic credits in non-real estate courses as 144 classroom hours. The Commission also accepts up to 12 academic credits in real estate courses. 3 of the 12 credits must be in a broker management course. If you have the broker management credits, the 9 other real estate credits, and 9 non-real estate credits, you will meet the 336-classroom hour requirement.
If you only have the 9 non-real estate credits, you will need to take 192 classroom hours (or our Broker Package that includes four 48-hour broker classes including Broker Management).
Coming Soon…I promise
Even if you don’t have any college credits, you can still get your broker license. At the moment, however, there is no single real estate school that offers the complete 336 classroom hours. For the time being, you would have to look at multiple schools to complete this education. While we currently offer the most hours (192), we are also building elective broker courses to meet the full 336-hour requirement!
Exam
Kentucky offers its real estate licensing exams through PSI Exams. There is a $100 taking the exam. The format is identical to the salesperson exam; you will take the test in a testing center and there will be a national portion and a state portion. You will have 4 hours to answer 125 questions and obtain a score of 75% on both portions of the exam. For more information, make sure you read the candidate booklet and content outlines.
Fees and Forms
You will need to follow the instructions on the KREC website. There is also an application fee and a background check fee. You will need to fill out KREC Form 207 to certify any academic credits you want to apply to the education requirement. You will also need certified transcripts for those academic credits.
Broker Reciprocity
If you are already licensed in another state, your requirements to get a broker license can be a little different. Kentucky has a reciprocal agreement with 5 states, which allows brokers from Illinois, Tennessee, Florida, West Virginia, and Ohio to skip the national portion of the licensing exam. Ohio, Florida, and Illinois brokers need to be licensed for 2 years as a broker before applying to Kentucky. West Virginia brokers need to be licensed as a broker for 1 year before applying. Tennessee brokers must be licensed for 3 years before applying. You will also need to fill out the Nonresident Form and pay an application fee, as well as conduct a background check.
Now stop listening to those podcasts and get started on your broker license! If you have any questions about getting your Kentucky license, do not hesitate to call, text, live-chat, or email me at 859-525-0303 and john@perryrealestatecollege.com!
About the Author
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