How to Become a Real Estate Agent in Indiana
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.
Getting your real estate license in Indiana requires 90 hours of prelicensing education specified by the Indiana Real Estate Commission (IREC) before you can represent buyers and sellers. It’s also worth noting that licensed professionals in the Hoosier state are known as brokers, not agents, even if they don’t manage a team. Other than that tiny distinction, the process is simpler than becoming a real estate agent in other states and includes passing the exam, choosing a brokerage to work for, and applying for your license.
Learn more by following this step-by-step process:
1. Meet the State’s Legal Requirements
The state of Indiana has very standard legal requirements to acquire your real estate license. You need to be at least 18 years old, have a high school diploma or GED, and must be a U.S. citizen or lawfully admitted alien.
If you have a criminal record, you must fully disclose that information on your application. The IREC board has the discretion to either approve or deny your application, but prior to a denial, they may ask for your appearance in front of the board to further discuss your application. If you are requested to appear, you may be asked for supplemental information to explain the criminal event, which can be obtained from the court or law enforcement agency of record that processed the matter.
Did you know? If you would like to work in states besides Indiana, you need to know the real estate license reciprocity and portability laws specific to each state. Indiana only holds reciprocity agreements with Illinois, but you can visit the IREC website for more information. Indiana is also a cooperative state in terms of portability.
This means Indiana allows out-of-state real estate agents or brokers to physically enter the state to conduct real estate business. However, in order for out-of-state agents to work on a real estate transaction, they must have a co-brokerage agreement with a licensee of that state. To learn more about real estate license portability in Indiana, check out our guide on real estate license reciprocity and portability here.
2. Complete Required Prelicensing Courses
To get the process started, you will have to complete the 90 hours of required prelicensing education through either an accredited online real estate school in Indiana or in-person. Prices can range depending on your school, but online education is around $484 to $625 and will cover a variety of topics, including:
- Indiana Real Estate law
- Real Estate Brokerage Operation
- Real Estate Finance
- Real Estate Contracts
- Commission Rules
- Closing Real Estate Transactions
- Earnest Money and Trust Accounts
- Property Management
- Financing
- Real Estate Loan Underwriting
Did you know? Any active member of the Indiana Bar who is in good standing and qualified under the real estate license law is exempt from taking the real estate prerequisite course.
After completing the 90 course hours, you will be required to pass a school exam administered by your education provider either in-person or proctored online. A score of at least 75% will earn you your official Certificate of Completion, which will be needed when you apply for your Indiana real estate license. Once you have fully completed these prelicensing requirements, you’re ready to continue on to the next step in the licensing process.
Finding an online real estate school that best suits your needs and learning style can be difficult, but we can help with that. Take a look at our guide to the best accredited online real estate schools to get an idea of what’s available. If you’re ready to start today, Real Estate Express can be a great option for you. That way, your 90 hours can be customized to fit your schedule.
Start your real estate education today with a special offer from Real Estate Express. Now through May 25, 2021, get 30% off and a $50 gift card toward your license or renewal.
3. Take the Exam
The Indiana real estate exam is much less difficult if you’ve studied and prepared with your prelicensing education. There is a state and a national portion of the real estate exam, and it is necessary to pass both sections. Since the test is taken on the computer, you will receive your results immediately after the exam. If you fail the exam, you can retake both sections or you can just retake the failed portion.
Luckily, Indiana allows you to retake the exam as many times as necessary within one year of the required prelicensing education course completion date.
Exam Details
Test Format | Multiple choice |
|---|---|
Test Length | 125 questions
|
Time Limit | 4 hours |
Items to Bring to Exam | 2 government-issued IDs:
|
Passing Score | 75% to pass the Indiana Real Estate Salesperson Exam (at least 60 correct on the national portion, and 38 correct on the state portion) |
Pass Rate | Unfortunately, unlike other states, Indiana does not publish its average passing rate |
The Indiana real estate exam is provided by PSI, which is a national provider for state licensing exams. In order to begin scheduling, you’ll be required to create an account on the PSI website, which will then allow access to the scheduling portal. You will receive a copy of the Candidate Information Bulletin for additional testing information. The fee to take the exam is $57 and can be paid directly on the website using a credit or debit card.
If you’re looking for help studying for the test, we recommend Real Estate Exam Scholars for a comprehensive exam prep course. They offer top-notch exam prep for an affordable price. Even better, they also offer a money-back guarantee if you don’t pass on the first try.
Visit Real Estate Exam Scholars
4. Pick a Company to Work For
To have an active real estate license in Indiana, you must find a sponsoring brokerage to work under. To make your choice a little bit easier, check out our in-depth guide on choosing the right real estate company to work for. There are many brokerages in Indiana that are outstanding, but here are the top five brokerages reported for 2021*:
Rank | Team Name | Company | City | Volume |
|---|---|---|---|---|
1 | The Dick Richwine Group | Berkshire Hathaway HomeServices Indiana Realty | Indianapolis | $125,938,517.51 |
2 | Indiana Home Experts Greg Brown | CENTURY 21 Bradley Realty, Inc. | Fort Wayne | $64,425,061.06 |
3 | Forney Group | Keller Williams Realty | Indianapolis | $58,363,568.50 |
4 | American Dream Team Mickey McMaken | CENTURY 21 Bradley Realty, Inc. | Fort Wayne | $56,403,692.85 |
5 | Central Indiana Real Estate Group | Keller Williams Realty | Avon | $52,416,461.00 |
*Data from Real Trends 2021
Indiana Counties With Highest Median Sales Price 2021
Higher sale prices equal more money in your pocket. To get a sense of which counties offer the best opportunities for big bucks in Indiana, check out this sales data from Towncharts.com below:
Rank | County | Median Home Value |
|---|---|---|
1 | $263,300 | |
2 | $233,700 | |
3 | $195,900 | |
4 | $191,700 | |
5 | $191,700 | |
6 | $185,400 | |
7 | $175,600 | |
8 | $171,400 | |
9 | $170,400 | |
10 | $169,300 |
5. Apply for Your License
Once you’ve passed your exam and decided on the brokerage you’d like to affiliate with, it’s time to apply for your licensure. Your application must be received within one year of passing the examination and can be completed online through Access Indiana or by mail using the paper application. Regardless of which you choose, you will be asked to provide the following paperwork with your application:
- $60 application fee: If applying online, it can be paid via credit or debit card; if by mail, a check or money order made payable to Indiana Professional Licensing Agency.
- Prelicensing course completion certificate: Document from your education provider certifying that you completed the 90-hour requirement.
- Licensing examination score report: Original score sheet stating you passed your licensing exam.
- Broker company information: Provide the name and license numbers of the brokerage you will be working under (if this section is left blank, your license will be issued in unassigned status unless you select inactive).
- Positive response documentation (if applicable): If you answered “yes” to a criminal history, you will be required to fully explain and include court documentation and details.
It will take about two days for your application to be received and reviewed. Once your license has been approved, you will be sent an email notification and can confirm by revisiting the Access Indiana website. Your license card can either be mailed or immediately downloaded and printed.
6. Start Your Real Estate Career
Now that you’ve learned how to get a real estate license in Indiana, you’re ready to start your real estate journey. For more information, take a look at our Top 25 New Real Estate Agent Tips From the Pros or 14 Real Estate Agent Tips for 2021 to jump-start your career.