How to become a licensed real estate broker in Idaho
Requirements for Idaho Real Estate Broker License
What are the requirements to become a licensed Idaho real estate broker?
The application process is the same for Salesperson and Broker licenses but they have different education and exam requirements.
All Idaho real estate license applicants must:
- Be 18 or older.
- Possess a high school diploma or equivalent.
- Complete pre-license courses.
- Pass state and national portions of appropriate licensing exam.
- Be fingerprinted through Pearson VUE.
- Register for Idaho Real Estate Commission (IREC) online account.
- Once fingerprints clear, send Salesperson Application or Broker Application to IREC.
- Obtain Errors & Omissions insurance.
Salesperson specific requirements:
- 90 hours of sales courses.
- Pass Idaho sales exams.
Broker specific requirements:
- Minimum 90 hours broker education.
- 2 years active real estate sales experience in preceding 5 years.
- Pass Idaho broker exams.
Designated broker requirements:
- Business Conduct & Office Operations or Idaho Brokerage Management within the preceding 3 years.
Sign up for PearsonVUE testing and fingerprinting services by calling 877-540-5833 or visiting the PearsonVUE website.
How do I get an Idaho real estate broker license?
If you meet the requirements for licensure, complete and submit the Idaho Salesperson Application or Broker Application
Submit the application, all requested documentation, and fees:
Idaho Real Estate Commission
PO Box 83720
Boise, ID 83720-0077
How much does the Idaho real estate broker license cost?
Individual Broker/Salesperson: $160
Individual Broker/Salesperson renewal: $160
Business Entity/Branch Office: $50
Business Entity/Branch Office renewal: $50
Real estate exam fee: $85
Are there any continuing education requirements for Idaho Real estate brokers?
Licensees must complete sixteen elective hours and one core hour during each two year period.
What else do I need to know to start a real estate brokerage company in Idaho?
There is an additional business license for business entities registered with the Idaho Secretary of State who want to broker real estate in Idaho. Business entities must apply to the IREC for the license. The business entity is required to have a licensed individual designated broker. That designated broker must be an officer, general partner, member, or manager of the entity and is responsible for supervising the company.
What if I’m already a licensed broker in another state?
Individual brokers licensed in another state may become licensed in Idaho. IREC will waive the national portion of the licensing exam. Just request a certified license history from the licensing state and submit it to the IREC with the Exam Waiver Request form. When you get the waiver, bring it to the test center with you. This way you will only have to take the Idaho state portion of the exam.
Business entities registered and licensed in another state may conduct business in Idaho if they register with the Secretary of State (SOS) and obtain a license from the IREC. The SOS requires foreign business entities doing business in Idaho to have an Idaho registered agent for service of process.
Does an Idaho brokerage company have to be a certain type of business entity?
IREC allows sole proprietors, corporations, limited liability companies, partnerships, limited partnerships, and limited liability partnerships to obtain a real estate business license. There is a different application for each entity. Business entities are required to submit certain documents to the IREC.
Sole Proprietorships must submit an additional license application for the sole proprietorship, completed Trust Account Notification form, and if applicable, a copy of the Certificate of Assumed Business Name.
Corporations, limited liability companies, and other business entities must submit an additional license application for the business entity, proof of separate E&O insurance for the business entity, a completed Trust Account Notification form, and if applicable, a copy of the Certificate of Assumed Business Name. The business entity must also include the Articles of Organization or Incorporation and a list of partners, members, managers, officers etc.
Business entities such as corporations and LLCs provide a variety of benefits and protections for Idaho real estate brokers. Idaho does not require real estate brokers to set up any one type of entity, except that they cannot form professional corporations or LLCs. Idaho does not require businesses to indicate the type of service they perform in the business name.