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Become A Real Estate Agent In South Dakota
Article Summary: This article will help anyone looking for information pertaining to a real estate license in the state of South Dakota or anyone looking to become a real estate agent or realtor in South Dakota. 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 South
Dakota Real Estate Commission, of the South Dakota Department of Revenue and
Regulation, administers all aspects of the real estate licensing act within the
state. The main mission of the Commission is to protect the interest of the public
when engaged in a real estate transaction.
The term real estate salesperson is not used in South Dakota. Rather, the beginning
level for a real estate agent is as a real estate broker associate. The
requirements for a real estate broker associate license in South
Dakota include being at last 18 years of age and having successfully completed
at least 60 hours of approved real estate education - Course I (Principles & practices
of Real Estate), and 40 hours of Course II (broker-level). No previous experience
is required. All broker associate applicants need to pass the real estate exams
with at least a 75% score and be approved by the Commission.
The requirements for a real estate broker license in South Dakota
include being at least 18 years of age and having two years of active licensed
real estate experience, plus successfully completing the education requirement
of 60 hours of Course I, 40 hours of Curse II, and 15 hours of Broker Course III.
Applicants must pass the real estate exams with at least a 75% score and be approved
by the Commission.
The approved real estate schools for prelicensure
and continuing education are located in five different cities. Courses available
include classroom courses, distance learning, and independent study.
The real
estate exams may be taken by computer in Rapid City or Sioux Falls. The exams
are handled by Applied Measurement Professionals’ (AMP), and you can apply by
phone or by mail. The examination fee for a broker or broker associate
is $125.00. This fee is payable to the testing company. All applicants have 60
days from notice of passing the exam to apply for their license. If the license
is not applied for within that time, the passing score is forfeited.
The license fee (fee
schedule) for a real estate broker application is $225.00, and a reciprocal
salesperson application fee is $225.00. The real estate agent licenses are valid
for a two year period, and the renewal fee is $125.00 every two years.
The late renewal penalty is $20.00 per month.
South Dakota has reciprocity agreements with approximately 18 other states. Applicants
from most of these states will need to provide errors and commissions insurance,
and each state varies in its requirements. All applicants must pay the application
fee, and a broker associate or salesperson needs to be licensed under a South
Dakota non-resident broker.
Real estate careers are strengthened by membership in the many organizations
that provide services for the professional agent. Organizations like the South
Dakota Association of Realtors and the National Association of Real Estate
Brokers (http://www.nareb.com)
(NAREB) assist many in locating real estate jobs within the industry. The
Association of Real Estate License Law Officials (http://www.arello.org)
(ARELLO) and The National Association of Realtors (http://www.realtor.org)
(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.
