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Become A Real Estate Agent In Rhode Island
Article Summary: This article will help anyone looking for information pertaining to a real estate license in the state of Rhode Island or anyone looking to become a real estate agent or realtor in Rhode Island. Contents of this article may include information on real estate education, schools, training courses, continuing education, tests and exams, laws, license requirements, renewal information, forms and more.
The Division
of Commercial Licensing and Regulation of the Rhode Island Department of Business
Regulation handles all aspects of the licensing and regulation of real estate
agents within the state.
The requirements for a real estate salesperson license in Rhode Island
include being at least 18 years of age, and having successfully completed at least
45-hours of approved real estate education in an approved school. All applicants
must also pass the real estate salesperson examination. Non-residents who apply
need to file an irrevocable power of attorney form for service of process. There
is a $10.00 application fee when applying for the license.
A Rhode Island real estate agent must provide a statement attesting to the salesperson applicant being competent,
trustworthy and a suitable person to be licensed. The salesperson applicant also needs to provide
references from three property owners who have known the applicant for at least three years,
who need to certify to the applicant’s good reputation for honesty and trustworthiness.
The requirements for a real estate broker license in Rhode Island
include being at least the legal age of majority within the state and a legal
resident of the United States. Broker license applicants need to provide evidence
of having at least one-year full time experience as a real estate salesperson
immediately prior to applying, or having successfully completed 90 hours of approved
classroom real estate courses. Applicants who have a bachelor’s degree with a
major in real estate from an accredited college or university may have the education
requirement waived. All non-residents need to file an irrevocable power of attorney
for service of process. And, all applicants must pass the real estate broker examination.
There is a $10.00 application fee for the broker license.
The biannual license fee for a real estate broker license is $170.00, and for
a real estate salesperson license is $130.00. Licenses expire on April 30th of
even numbered years.
In order to renew their license, the continuing education requirement for all agents
is 18 hours of successful completion of specific, approved real estate courses. Licensed attorneys
are exempt from continuing education requirements.
The renewal fee for a broker license is $170.00 for two years, and for a salesperson
license is $130.00 for two years. This renewal fee must be paid by the expiration
date of April 30th of even numbered years. Effective July 30, 2004, the fee for
late renewal of either a salesperson or broker license is $100.00 in addition
to the license fee.
Rhode Island has reciprocity agreements for either a salesperson or broker
license with Connecticut and Massachusetts. The applicants need to be a resident
of one of these states, licensed by examination, and in good standing. Their fees
are the same as Rhode Island resident agents, plus they need to pay $25.00 to
the Real Estate Recovery Account. Non-resident licensees must carry and maintain
errors and omissions insurance. Non-resident reciprocal license applicants need
to meet the continuing education requirements in their home states, rather than
those of Rhode Island.
Real estate careers are strengthened by membership in the many organizations
that provide services for the professional agent. Organizations like the Rhode
Island Association of Realtors and the National Association of Real Estate
Brokers (NAREB) assist many
in locating real estate jobs within the industry. The Association of Real
Estate License Law Officials (ARELLO)
and The National Association of Realtors (NAR),
the world’s largest professional association, are excellent resources for real
estate education and professional enrichment.
This portion of our website has been created for information purposes
only. It is our belief that all information presented here is accurate
as of today, however each state is constantly striving to protect
the public and provide more quality service to those using the services
of a Real Estate Agent. Change in Real Estate laws and regulations
is inevitable. The information presented here should be considered
a starting point and we encourage everyone to fully research any
information you are seeking.
To further assist you, we have included links to each state's
real estate licensing office, and also to the state's local Association
of Realtors site that provides current information on proposed real
estate license regulations in that area.
If you do find an error or have updated information, please contact
us and we will update our information accordingly.
