How to Get Your Alaska Real Estate License 2023
Gina is a licensed real estate salesperson, experienced trainer, and former high school educator of 1,000+ learners. She writes for Fit Small Business with a focus on real estate content.
This article is part of a larger series on How to Become a Real Estate Agent.
Whether you’re a newcomer cheechako or a long-term sourdough resident of Alaska, completing the 40 hours of prelicensing education needed to get your Alaska real estate license is simple. Along with prelicensing education, the Alaska Real Estate Commission (AREC) requires you to complete an application, pass the Alaska real estate exam, and affiliate with a brokerage before practicing real estate. Read our step-by-step guide on how to become a real estate agent in Alaska.
Statistics courtesy of World Population Review and Leads Deposit
1. Meet the Legal Requirements for Your Alaska Real Estate License
The Alaska real estate license requirements are simple. You must be at least 19 years of age and a lawfully admitted resident of the U.S.
Did you know?
Alaska offers full reciprocity with all 50 states. Those who have held a valid license from another state for a year or more can move forward with licensure by completing six hours of prelicensing education and passing the state portion of the real estate exam. Fill out the Real Estate Salesperson Application by Endorsement to get started.
Also, Alaska is a physical state in terms of portability. A physical location state allows agents and brokers to conduct business in another state but doesn’t allow them to enter the state to conduct real estate business. This means that an agent or broker from another state must conduct all out-of-state business remotely and may not enter the state for showings, closings, or any other reason. To learn more about real estate license portability in Alaska, check out our guide on real estate license reciprocity and portability.
Even if you possess a criminal record, you still may be able to get a real estate license in Alaska. All candidates are required to disclose and explain any convictions, but being under indictment for a felony, conspiracy to defraud, or fraud can affect your ability to obtain your license. Consideration is given to other crimes if seven years have lapsed since the sentence was completed. For more information and to see if you qualify, visit AREC website “General Information.”
2. Complete Required Prelicensing Courses
Once you’ve qualified to become a real estate agent in Alaska under the state’s requirements, you need to complete the required 40 hours of real estate prelicensing education. The real estate classes can be completed in-person or at an accredited real estate school with prices ranging from $375 to $500.
Alaska real estate prelicensing courses comprise of the following topics:
- Real property, characteristics, legal descriptions, and property use
- Forms of ownership, transfer, and recording of title
- Property value and appraisal
- Real estate contracts and agency
- Real estate practice
- Property disclosures and environmental issues
- Financing and settlement
- Real estate math calculations
- Powers of the Alaska Real Estate Commission
- Licensing
- Requirements governing the activities of licensees
- Additional topics (common interest ownership / condominium, Landlord and Tenant Act, and Residential Real Property Transfer Disclosure)
Colibri Real Estate is one of the best accredited online real estate schools for aspiring Alaska agents. They have multiple course packages to choose from to elevate your educational experience and prepare you for a successful real estate career. Classes are online and self-paced so you can work around your schedule and complete the hours at your own speed. For those who need extra support, higher-tiered packages also include live interactive sessions with instructors and peers.
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3. Take the Alaska Real Estate Exam
Once you’ve completed the required prelicensing courses, it’s time to schedule your Alaska real estate license exam. The exam is administered electronically on the computer and pass or fail results are provided immediately after the exam is concluded. You are required to pass both the national and state portion of the exam to receive your license.
If you pass the exam, you’ll get information about how to apply for your Alaska real estate license. If you don’t pass, you’ll receive a numeric score and diagnostic report showing your strengths and weaknesses. You will also be provided information about reexamination, which can be scheduled 24 hours after taking your initial exam. Exam results are valid for six months after the initial exam date.
Alaska Real Estate Exam Details
Test Format | Multiple choice |
Test Length | 80 nationally focused questions 40 state-specific questions |
Time Limit | 4 hours |
Items to Bring to the Exam | 2 valid forms of identification (ID) with signatures:
|
Passing Score | 75 is a passing score on the Alaska Real Estate Salesperson Exam. The score is calculated on a scale from 1-100, but that number doesn't represent a percentage or number of questions answered correctly. |
Pass Rate | Unfortunately, the AREC does not provide the average pass rate for the Alaska real estate exam |
How to Schedule the Alaska Real Estate Exam
The global testing company, Pearson VUE, is the official administrator of the exam. You can schedule directly on the Pearson VUE website, and you will receive a copy of the Candidate Fact Sheet for additional information. Pay the $100 exam fee directly through the Pearson website using a credit card, debit card, electronic check, or voucher.
To guarantee you pass your exam on the first try, use an exam prep provider like PrepAgent. PrepAgent has a variety of packages based on the length of time you have to prepare for your exam as well as the features you require. All packages include national and state-specific questions with explanations and a 100% money-back guarantee. Check them out today to ace your Alaska real estate exam.
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4. Pick a Sponsoring Brokerage to Work For
To hold an active Alaska real estate license, you must find a sponsoring brokerage with which to affiliate your license. The brokerage is required to complete page 3 of the Employing Broker Information form.
To make your choice a little bit easier, check out our in-depth guide on how to choose a real estate company to work for. Although there are many successful brokerages in The Last Frontier State, below you’ll find the top Alaska real estate brokerages reported for 2022.
Rank | Team Name | Company | City | Volume |
|---|---|---|---|---|
1 | Barickman Associates | RE/MAX Frontier | Palmer | $92,323,410.00 |
2 | Erickson Group Alaska | Keller Williams Realty | Eagle River | $38,639,771.00 |
3 | Team Dimmick | Keller Williams Realty | Anchorage | $33,027,595.00 |
4 | Synergy Home Team | Keller Williams Realty | Wasilla | $32,991,591.00 |
(Source: Real Trends)
Alaska Cities With Highest Median Sales Price 2023
The higher that homes are selling for means the higher the commissions you have the opportunity to earn and be successful in real estate. To know which cities are bringing in the bucks for real estate agents in Alaska, check out this sales data from Towncharts.com below:
Rank | City | Median Home Value |
|---|---|---|
1 | $403,200 | |
2 | $358,600 | |
3 | $355,100 | |
4 | $341,100 | |
5 | $321,100 | |
6 | $314,800 | |
7 | $321,100 | |
8 | $301,900 | |
9 | $293,700 | |
10 | $273,300 |
5. Acquire Errors & Omissions Insurance
As you learn how to become a realtor in Alaska, you must also be aware that all active Alaska real estate agents are required to have errors and omissions insurance (E&O). This protects real estate pros from mistakes made in the course of work. Some brokerages provide agents with E&O, but you may have to purchase your own policy. The AREC works closely with Rice Insurance Services, LLC to provide affordable options, or you can choose your own provider and submit the Affidavit of E & O Insurance Equivalent Coverage form.
6. Apply for Your Alaska Real Estate License
The last step for how to become a real estate agent in Alaska is completing the licensing application. Applications can be submitted directly through the AREC online portal or you can mail a paper application directly to the real estate commission. The total application fee is $390 and includes a nonrefundable application fee of $200, license fee of $140, and recovery fund fee of $50.
Keep in mind that exam scores are valid for only six months from the date of the exam, and prelicensing courses are valid for 18 months after completion. For that reason, it is important to apply for your Alaska real estate license soon after passing your exam. You must also submit proof of E&O insurance and your employing brokerage information along with your application.
7. Start Your Real Estate Career
Now that you’ve learned how to become a real estate agent in Alaska, you’re ready to start your real estate journey. For more information, here are some of our articles with content that is perfect for new real estate agents:
- Our article with 14 Real Estate Agent Tips covers the basics that every agent should know when they are starting out, including how to write a real estate business plan
- Learn how to generate real estate buyer leads
- Get nine strategies to help with real estate seller lead generation
- Jumpstart your career with the top New Real Estate Agent Tips From the Pros
- Get the tools you need to build a strong real estate business out of the gate using the best real estate software and tools
