How to Become a Licensed Real Estate Agent in Alaska
Alaska Real Estate License Requirements
To become a real estate salesperson in Alaska, AS 08.88.171, you need to meet the following requirements to be eligible for a license:
- You must be at least 19 years of age and be employed by a licensed broker
- Complete 40 hours of pre-licensing education from an approved real estate school
- Pass the end of course exam
- Apply for licensure within six months of passing the exam
- Pay the licensing fees
- Not be indicated for felony or any other crime
Alaska Real Estate License Costs
- Real Estate Agent Education in Alaska: $350 to $650 (approx.)
- Exam Fee: $100
- License Fee: $390 ( Including Application, license and Recovery Fund fees)
- You can join a correspondence course such as ACH Consulting to prepare for real estate agent education.
- You can also find online resources or exam preparation: Alaska Real Estate Education and Alaska Real Estate School.
- State Resources:
- Exam Locations: Anchorage, Bethel, Dillingham, Fairbanks, Homer, Juneau, Ketchikan, Kodiak, Palmer, Seward, Sitka
- You can take the real estate exams at PearsonVUE
STEP 1: AK Pre-Licensing Education
To become a real estate agent in Alaska, you need to get a license from the Alaska Real Estate Commission. There are some prerequisites you need to fulfill before applying for the license.
You must have completed 19 years of age and undergone 40 hours of pre-licensing education at one of the approved real estate schools in Alaska. You can either study online or by correspondence from schools such as Alaska Real Estate School or Alaska Real Estate Education. The course fee can range from $350-$650.
Once you have completed the education you must apply for the examination by making a reservation with Pearson VUE and paying the exam fee. You must pass the test to be eligible for the license and must apply within six months of passing the examination. You must also be affiliated with a licensed real estate broker in Alaska.
If you hold an active real estate license in another state and have experience working there as a real estate professional in the past six months, you can seek an Alaska real estate license by endorsement.
For this, the Alaska Real Estate Commission needs a detailed license history from your current licensing authority and by all jurisdictions where you have ever held a real estate license. You must also submit proof of completion of the pre-licensing course before obtaining your current license. You have to submit proof of having taken the 6-hour Alaska pre licensing course segment on Alaska real estate law or the entire 40-hour Alaska pre licensing course.
To pass the state law portion of the Alaska real estate licensing examination, you must apply for the client waiver request before scheduling your exam.
After passing the exam, apply through the Alaska Real Estate Commission website.
STEP 2: Submit a Completed Application
Where to Apply
Once you have completed your pre licensing course of 40 hours, you must apply to the Alaska Real Estate Commission. You must complete a duly filled, signed and notarized application, available online in the Commission’s website.
Remit the application fees of $200 with the application. This is nonrefundable. You must also pay the license fee of $140 and a recovery fund fee of $50, totaling to $390.
You must submit the original exam score sheet with proof of having passed the state portion of the salesperson exam. Apply within six months from the date of passing the exam. Also, provide a 40-hour pre-licensing course completion certificate within 18 months of completion. If you currently hold a license in any other state, give a verification from the jurisdiction concerned. The histories/certification must be sent by the licensing authority directly to the Alaska Real Estate Commission.
You also need to submit evidence of Errors and Omissions Insurance coverage. You must be working with a broker and must provide information about the employing broker.
Reach the application with the proof to:
Real Estate Commission
550 West 7th Avenue, Suite 1500, Anchorage, AK 99501
The Alaska Real Estate Commission requires you to make a payment of $390 at the time of applying for the license as per 12 AAC 64.059(b)(5)(6) and 12 AAC 02.360(2)(9). This includes a $200 non-refundable application fee, a $140 license fee and a $50 recovery fund fee.
In addition, you must pay Pearson VUE $100 as a pre-license examination fee at the time of scheduling your test.
Proof of Pre-licensing Requirements
The Alaska Real Estate Commission requires you to complete 40 hours of pre-licensing education from an approved real estate school. At the time of applying, you must provide the certificate for the completion of the course within 24 months preceding the application. You must also submit the original scorecard with pass results within six months of passing.
If you are seeking a waiver, you must provide copies of your education certificates or a transcript of completing a salesperson pre-licensing education of 40 hours required by 12 AAC 64.063(c) or its equivalent. It must have been completed in the 24 months preceding the date of application, as required by 12 AAC 64.063(a)(2). Education topics are listed in 12 AAC 64.063(c).
You must also submit a written statement confirming that you have worked as a real estate licensee, that it was your principal occupation for the six months preceding the date of application. You are also required to submit a License History from the relevant jurisdictions, with at least one of the licensures at the salesperson level. It should be sent directly by the authority to the Alaska Real Estate Commission. The license should be current and active at the time of your Alaska application being considered complete. Complete a 6-hour course on Alaska’s Real Estate Law [12 AAC 64.059(c)(6) and 12 AAC 64.063(c)(7)] and submit the certificate.
The applicant being convicted of felony and other similar crimes related to fraud as well as other crimes can affect their ability to practice as a real estate salesperson competently and safely. Therefore, such a person will be denied a license to practice. If you have such a history seven years must have elapsed since your completing the sentence for your application for a real estate license to be considered.
STEP 3: Pass the State License Exam
You must score 75 and above to pass. The score is not a percentage but a scaled score based on the difficulty level. A score below 75 shows how close you were to passing. In such a situation, your numeric score will be shared with you with a diagnostic report on how you performed. This will help you in preparing for your retake.
You can schedule for a retake of the exam after 24 hours of not passing. There are two parts to the examination, general and state law. Even if you pass one section of the examination and fail the other, you must still rewrite the entire examination following the same procedure to apply as before.
To perform well, you can purchase practice tests from Pearson VUE. These tests are developed by subject matter experts and are close to the real exam, thus helping you understand the pattern and reinforcing your learning.
You will receive your scorecards at the venue, soon after you complete the exam.
Topics Covered in the Course:
- 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
- Residential Real Property Transfer Disclosure
Time Given to Take the Test
You will be given four hours to complete the examination. You must complete it within the given time as the examination will automatically expire after the specified time. You will get the scorecard with the pass or fail information at the test center itself.
Report at least 30 minutes before the scheduled time for the examination so that you check in with the test center administrator and complete other identification and verification formalities.
Before the exam begins, you will be able to take a tutorial on the computer on which you will write your exam. This time will not be counted with your examination time. The questions you answer during the tutorial will also not be counted as part of the score. Once you are confident, you can start your exam. Your time will start ticking from the time you look at the first exam question.
What to Bring to the Exam
On the day of the exam, remember to carry two types of identification. The name on the identification should match the name on the registration and should have your current signature.
The primary identification should be one issued by the government and have a photo of yours along with your signature. This can be your driving license, passport, state or country identification card.
The secondary ID should contain a visible signature and can be your Social Security card, debit or credit card. If any of these have a microchip where your signature is not visible, show an alternate ID proof. Both IDs should be current and active. Even if the ID is in the grace period, Pearson VUE does not recognize it.
STEP 4: Apply and Obtain Your License
Before applying for the license to practice as a real estate agent in Alaska, you must complete the 40-hour pre-licensing course from a real estate school approved by the Alaska Real Estate Commission. On completing the course you must write and pass an exam.
Within 18 months of completing the course and six months of passing the exam, you must apply for the real estate salesperson license. For this, you will find a form on the Alaska real estate website. Submit it along with the documents as required by the Commission.
After your submission, it may take the Commission several days to process it. In case it is incomplete, some documents missing or if you have not paid the fees, you will be notified. For those that are complete, including all supporting documents and fees paid, the license will be issued and sent.
Send in your application early to give room for the processing time and receive your license early. Applications are reviewed on a first-come, first-served basis and no priority is given to walk-in customers.
STEP 5: Finding a Brokerage
Choosing the right brokerage is very essential for you to learn and earn well. Some of the factors you must keep in mind include:
The Type of Brokerage
Whether the brokerage should be a national franchise, a boutique brokerage or a virtual brokerage will depend on what you are looking for. A franchise brokerage is typically a representative of a large national company and is very process driven. They bring with them credibility, a network of offices, access to technology, turnkey marketing solutions and training. But the very size can be a drawback as it may be a little impersonal and not recognize individual contributions much.
A boutique real estate brokerage is normally small, but that doesn’t mean it is insignificant. It could be a very successful brokerage though the reputation may be restricted to a small geographic area. The advantage is the individual attention each agent can get, fewer people vying for the leads, greater teamwork, greater flexibility and greater creativity. But their marketing budgets and reach may be small.
You can work from anywhere for a virtual real estate brokerage, have greater access to technology and even higher commission splits. But if you like to be in the middle of activity and be surrounded by people, then you may find this a lonely road.
This is a tricky area, one which you must tread with care. You may be offered high commission splits that will be very tempting but be wary of hidden costs and clauses. The ideal is to go for a higher commission split without having to pay too much for using the administrative and other services.
The reputation of the firm is a very important factor to keep in mind as that will impact your prospects too.
STEP 6: Post-learning Requirements
You must complete 30 hours of post-licensing education as per 12AAC 64.064 and 20 hours of continuing education within a year of getting your license. Form number 08-4326 “Affidavit of Post-Licensing Education” must be submitted to the Commission along with a post-licensing education completion certificate.
This must be done within a month after the end of the one year period [AS 08.88.095(c)], beyond which the license with lapse. After that, you will have to reinstate your license and pay the reinstatement fee.