Broker Licensing - those licensed in a RECIPROCAL state
The Ohio Division of Real Estate and Professional Licensing has reciprocityagreements with the following states: Arkansas, Connecticut, Kentucky,Mississippi, Nebraska, Oklahoma, West Virginia and Wyoming.
Please click on the attachment to download the Broker Reciprocity Application.
Qualifications for a reciprocal license:
- Be a resident of a state that has a reciprocal agreement with Ohio.
- Hold an active broker’s license in that state for two of the last fiveyears.
- Take an Ohio Real Estate Law Course. This course must be taken at aninstitution of higher education.
Application Process
An applicant for an Ohio broker’s license should submit:
- A Broker Reciprocity Application form (COM3618) with $135.00 fee.
- A Consent to Service of Process form (COM3637).
- A letter of good standing from the state of licensure.
- Proof of completion of the Ohio Real Estate law pre-licensure course.
The applicant must also complete a criminal records check of both state & FBI records.Information on performing a background check can be found on the Broker ReciprocityApplication.
Once the application has been received and processed by the Division, the applicantinformation will be sent to the testing vendor. The testing vendor will process theinformation and send a Candidate Information Bulletin with instructions on scheduling thetest.
The applicant must pass the State portion of the Ohio Real Estate Broker exam in order fora license to be issued. Passing score: 75
Principal brokers shall be required to maintain an active place of business in the reciprocalstate and escrow/trust accounts as required by the statutes of both states. The place ofbusiness must be a physical location. A post office box is not acceptable.
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Now, let's delve into the key concepts outlined in the article on Broker Licensing for those licensed in a reciprocal state, focusing on the information provided about Ohio's Division of Real Estate and Professional Licensing:
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Reciprocal Agreements:
- Ohio has reciprocity agreements with specific states, namely Arkansas, Connecticut, Kentucky, Mississippi, Nebraska, Oklahoma, West Virginia, and Wyoming.
- Individuals seeking reciprocal licensing in Ohio must be residents of a state with a reciprocal agreement.
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Qualifications for Reciprocal License:
- Applicants must hold an active broker's license in the reciprocal state for at least two of the last five years.
- Completion of an Ohio Real Estate Law Course is mandatory, and the course must be taken at an institution of higher education.
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Application Process:
- Submission of a Broker Reciprocity Application form (COM3618) along with a $135.00 fee.
- A Consent to Service of Process form (COM3637) must be included.
- A letter of good standing from the state of licensure is required.
- Proof of completion of the Ohio Real Estate Law pre-licensure course is mandatory.
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Background Check:
- Applicants are required to undergo a criminal records check of both state and FBI records.
- Detailed information on performing a background check is available in the Broker Reciprocity Application.
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Testing and License Issuance:
- Once the application is received and processed, the applicant's information is sent to the testing vendor.
- The testing vendor provides a Candidate Information Bulletin with instructions for scheduling the Ohio Real Estate Broker exam.
- A passing score of 75 on the State portion of the exam is necessary for license issuance.
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Requirements for Principal Brokers:
- Principal brokers must maintain an active place of business in the reciprocal state.
- Compliance with escrow/trust account regulations in both states is mandatory.
- The place of business must be a physical location; a post office box is not acceptable.
In summary, the process for obtaining a reciprocal broker's license in Ohio involves specific qualifications, documentation, background checks, and successful completion of the state exam. Principal brokers have additional requirements related to maintaining a physical place of business and complying with escrow/trust account regulations in both states.
