Upgrade License in Oregon
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40-Hr. OR Principal Broker Pre-Licensing Package
Broker- This 40-hour package is designed to provide you with the 40 hours of instruction required to be eligible for an Oregon principal broker license.
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Oregon Real Estate Pre-Licensing Course: 40-Hr. OR Principal Broker Pre-Licensing
Oregon BASS topics include real estate business operated under the title of "registered business name" only; the addition of the term "client trust account," when explaining client...
Your Path to Becoming a Licensed Agent
Follow these 5 simple steps to start your real estate career in Oregon
Log in to Your eLicense Account and Apply for Your Principal Broker’s License
The first step in becoming a licensed principal real estate broker in Oregon is to log in to your eLicense account (or if you have not done so create an eLicense account). Then you must apply for a Principal Broker’s License and pay the $300 application fee. Once you have completed that step, the state will process your application and issue you an application id.
Complete 40 Hours of Agency-Approved Pre-Licensing Education
After you have successfully secured an application id, the next step is to complete the required 40-hours of agency-approved principal broker pre-licensing education. According to the Oregon Real Estate Agency, applicants that hold licenses in other states must complete 150-hours of broker pre-licensing education and 40-hours of principal broker pre-licensing education.
Pass the Oregon Principal Broker Licensing Exam
The next step is to schedule your exam with PSI, pay the associated fees, and pass both sections with a score of 75% or better. As stated in the prerequisite requirements, those taking the state-issued Principal Broker Licensing Exam must have three years of real estate experience. If an applicant holds an Oregon Broker’s License, then no proof of experience is required. If a candidate is applying from out of state, then it must be verified by the other state’s agency. If a candidate’s experience is varied or is in another area of the real estate industry, a waiver for experience can be issued on a case-by-case basis.
Start your own Brokerage Firm
Congratulations! When the Oregon Real Estate Agency grants you a Principal Broker License, it’s time to start your own brokerage firm and get to work building your real estate empire. Principal Brokers must register their businesses (including the business name and which type of company they choose e.g. sole proprietorship, LLC, etc.) at Oregon.gov, then add their Principal Broker’s License to the business via eLicense account. It's also wise to consult with both a tax and insurance professional as you take the next big step in your real estate career.
Prerequisites
Before you enroll in coursework be sure you meet the following Managing Broker License prerequisites: Be at least 18 years of age by the exam date. Must have a High School Diploma, GED, or its equivalent. Have at least three years of active real estate experience.
Meet Our Expert Instructors
Joseph F. Gobbett, Jr.
Licensed Broker, GRI
50+ YearsStarted his real estate career in Maryland in 1971. Training director, branch sales manager, and broker in charge of Rescom Realtors.
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Mark Davis-Cote
Licensed Broker, SFR
13+ YearsBA from URI, MBA from Webster University. Licensed salesperson since 2011, broker since 2016, SFR certified.
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Amanda Farnum
Licensed Real Estate Broker
17+ YearsAward-winning agent with experience across residential, commercial, foreclosures, and investments.
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Dale Clift
Real Estate Instructor
40+ YearsPassionate about real estate from age 20. Made it his goal to teach, train, and coach professionals across South Carolina.
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Frequently Asked Questions
Find answers to common questions about our real estate courses
How do I get an Oregon Principal Real Estate Broker license?
Be at least 18 years of age by the exam date. Earned a High School Diploma or its equivalent. Have at least three years of active real estate experience. Once the prerequisites have been met, an applicant must: Login to their eLicense account and apply for the Principal Broker License. Pay the $300 application fee. Complete 40-hours of agency-approved principal broker pre-licensing education (out of state applicants must complete both 150-hours of broker pre-licensing and the 40-hours of principal broker pre-licensing). Pass the coursework final exam with a score of 75% or greater. Pass the state-issued Principal Broker License exam.
How long does it take to get an Oregon Principal Real Estate Broker License online?
With the exception of the state-issued exam, the Oregon real estate education required by the state can be completed entirely online. Therefore, Fortune Academy offers 40-hour packages that can be completed online. Students who complete up to 8 hours of coursework per day could satisfy the requirement in as few as 5 days.
How much does it cost to get an Oregon Principal Real Estate Broker License online?
In addition to the cost of education and testing, those looking to acquire a Principal Broker License will have to pay: $300 License Application Fee $61.25 (Background Check/Fingerprinting)
What is the difference between an Oregon Broker license and a Principal Broker license?
A broker is licensed to conduct business on behalf of a principal broker and cannot operate independently of a brokerage. A licensed broker can become a principal broker if they complete the required education and examination requirements.
Can I become an Oregon Principal Real Estate Broker if I have felonies or misdemeanors?
In the state of Oregon, Principal Broker License applicants must submit to fingerprinting and be able to pass a background check. Felons can receive a real estate license in Oregon, but the candidate's criminal record must be reviewed and approved by the Oregon Real Estate Agency.
How old do you have to be to get a Principal Broker license in Oregon?
Applicants must be 18 years of age.
Is residency in Oregon required to receive a Principal Broker license in the state?
No, applicants do not have to be a resident of Oregon to receive a Oregon Principal Broker License.
What are the Continuing Education requirements for a Principal Real Estate Broker in Oregon?
Oregon principal real estate brokers are required to complete 30 hours of Continuing Education every biennium (two years).
Does Oregon have real estate license reciprocity with any other states?
Oregon does not have direct reciprocity with any state, but it does offer experience equivalency exemptions for license holders that have completed comparable requirements in other states. Equivalency is determined by the agency.
Can I get my Oregon Principal Real Estate Broker license online?
The required 40-hours of coursework can be completed online, but exams must be taken in person at a PSI Assessment Center.
Where do I take the Oregon real estate license exam?
Please contact us for more information.
What is the average salary of an Oregon Real Estate Broker?
According to Indeed.com, the average annual salary of a real estate broker in Oregon is $105,469, so theoretically, a principal broker would earn more.