How Much Does It Cost to Get a Real Estate License in Idaho?
There are quite a few expenses associated with acquiring a real estate license in Idaho.
They include: pre-licensing coursework price, application costs, expenses you’ll incur when renewing the license, and others.
In this article, we’ve tallied up all the price tags so you can map out your budget.
Keep reading to gain a stronger understanding of the financial investment involved in obtaining a real estate license in the state.
Getting Your License
Pre-Licensing Coursework: $300-$700
Since this is the first step toward getting your real estate license in Idaho, plan to complete the pre-licensing coursework first.
Based on which type of licensing you’re going for, the cost of your pre-licensing education is different. The 90 total hours you need for your salesperson license can cost a little more.
The salesperson requirement is broken down into two modules that are 45 hours each. The broker requirement, meanwhile, includes the following courses:
- Broker Management (28 hours)
- Real Estate Law (30 hours)
- Two electives from a pre-approved list (hours vary)
To gain access to all pre-licensing educational opportunities, use our directory of the best real estate schools in Idaho and choose one near your location.
Fingerprinting/Background Check: $61.25
Most people going for a real estate license in Idaho get their fingerprints done at their actual testing site.
The Idaho Real Estate Commission (IREC) will also send you a packet to complete fingerprinting on your own.
To get it done the day you take the real estate license exam, you’ll need to make an advance appointment through Pearson VUE.
The $61.25 fee is the same regardless of the type of license you’re getting, and processing can take anywhere from 1-12 weeks.
Exam Fee: $80
Idaho offers their real estate license exam through Pearson VUE. The cost, no matter what license you’re getting, is $80.
You can register for the exam online or by calling the testing site at 877-540-5833. On your actual test day, plan to arrive at least 30 minutes early to sign in.
You’ll need two forms of ID to sit for the license exam. One must have your picture and signature and have not expired. The other only needs to be active and have your signature.
You have a total of four hours to complete both parts of the salesperson or broker license exams. Each exam is broken into two parts — a national section and a state one.
The national section for both tests is 150 minutes long, while the state portion is only 90 minutes.
Exam Retake: $80
In order to pass the salesperson license exam, you must receive a minimum score of 70 percent. For the broker license, the minimum score is 75 percent.
Once you complete the exam, you’ll receive a score report marked ‘pass’ or ‘fail’. If you fail one or both parts, your score report will include additional information on your performance.
To retake any part of the exam, you’ll need to contact Pearson VUE to schedule the test. You must wait 24 hours after receiving a failing grade to do so.
There’s no limit on retakes, and the cost is always $80 per test, whether you’re retaking one or both sections.
If you only fail one section, you have a year to pass it. Once that time limit expires, you’ll need to take, and pass, both sections to move on in the licensing process.
License Application: $160
The license application fee of $160 is the same for both a salesperson license and a broker license. However, you can’t submit your application until you pass your fingerprint check.
To keep an eye on the status of your fingerprints, create an account at IREC online services.
Through this platform, you can track fingerprint status, as well as license history and education records.
When the status reads RES-OK for your fingerprints, you can then send in your license application.
Errors & Omissions Insurance: $13+
To activate your real estate license in Idaho, you must carry E&O insurance. You can purchase a policy through the IREC, or get covered under the firm you’re working for.
If you go with the IREC policy, the annual fee is $155. The price will vary by month the first time you purchase the insurance.
For example, you only pay $155 if you get your policy in October of your first year. After that, the price decreases by $13 each month.
Maintaining Your License
Continuing Education: $25-$50 per Course
Idaho real estate agents are required to complete 12 hours of post-licensing education, along with taking two Commission Core courses, during the first two years of being licensed.
Your continuing education package must include an eight-hour course in Post License Fundamentals and a four-hour course in one of these electives:
- Post License Pricing
- Marketing and Advertising
- Post License Professionalism
- Negotiations and Closings
- Post License Introduction to Commercial Real Estate
For all subsequent renewal periods, you must complete 12 elective hours of continuing education and take two IREC core courses.
The price per course varies based on length, and some educational institutions may even package hours together to make the classes more affordable.
The Idaho real estate license renewal fee is the same regardless of license type. A license is good for two years with a renewal fee of $160. If you renew late, there’s a $25 charge.
You can renew your license up to 90 days before its expiration date, but you must complete all your continuing education courses first.
How to Reduce Real Estate License Education Costs
While the financial commitment to getting your real estate license in Idaho sets you up for a potentially lucrative career, there’s still a lot of upfront costs.
Although certain fees are set in stone, there are ways to bring down the total cost and make it more affordable to get your real estate license.
1. Buy coursework packages rather than everything à la carte. You may even get some study materials thrown in for even more value.
2. Compare the costs for online courses against those offered in person. One may be less expensive than the other.
Read our guide comparing real estate classes online vs. classroom courses to know more about the pros and cons of each method.
3. Put in the necessary time to prepare for the exam. Passing the real estate exam the first time means not having to pay for retakes.
Putting in maximum effort by working efficiently and seriously to achieve your dream of having an Idaho real estate license can help bring down the total cost of the entire process.
Once you’ve set aside a budget, there are a few other steps involved in getting your license in Idaho.
As a new agent, you will be faced with a lot of challenges and opportunities. It would be wise to prepare for what’s ahead by knowing what to do after you get your real estate license.
When stumbling upon a few roadblocks, don’t be disheartened as there are so many benefits to being a real estate agent as a career.
You can also talk to experienced agents to get more tips. You can meet one by joining a real estate team.
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