Age
In Kentucky, individuals who are at least 18 years old can qualify for a broker license, as stated in the Kentucky statutes and on the Kentucky Real Estate Commission website. However, to become a broker in Kentucky, you must have been licensed as a salesperson for a minimum of two years. This means that you would need to be at least 19 or 20 years old, and even then, your experience and education may not be enough to qualify you for a broker license.
Experience & Education
The general rule for meeting the experience and education requirements for Kentucky is that you have to be licensed as a sales associate for at least 2 years and you must complete 336 classroom hours of real estate courses. That seems like a lot, but it can be very manageable if you have some college credits. So, what do these numbers really mean?
The 2-year licensure requirement means that you must have been licensed as a sales associate averaging at least 20 hours per week for a minimum of 24 months before sending in your application. So, part-time sales associates can qualify for a broker license. You can also lower this requirement to 1 year of licensure if you have an associate degree in real estate or a bachelor’s degree with a major or minor in real estate.
The Kentucky Real Estate Commission also accepts academic credits from colleges and universities as classroom hours in real estate. The Commission will accept up to 9 academic credits in non-real estate courses as 144 classroom hours. The Commission also accepts up to 12 academic credits in real estate courses. 3 of the 12 credits must be in a broker management course. If you have the broker management credits, the 9 other real estate credits, and 9 non-real estate credits, you will meet the 336-classroom hour requirement.
If you only have the 9 non-real estate credits, you will need to take 192 classroom hours (or our Broker Package that includes four 48-hour broker classes including Broker Management).
Coming Soon…I promise
It's possible to obtain a broker license in Kentucky without having any college credits. However, currently there is no real estate school that provides the full 336 classroom hours required for the license. You may need to look into several schools to complete this education. Our school currently offers the most hours (192) and we are developing elective broker courses to fulfill the complete 336-hour requirement.
Exam
The state of Kentucky uses PSI Exams to administer its real estate licensing exams. To take the exam, you'll need to pay a fee of $100. Like the salesperson exam, the broker exam is divided into two parts: a national portion and a state portion. You'll have four hours to complete 125 questions and you'll need to achieve a score of 75% on both parts of the exam. To learn more about the exam, be sure to read the candidate booklet and content outlines provided by PSI Exams.
Fees and Forms
To apply for your Kentucky Real Estate Broker License, you must follow the instructions provided on the KREC website. In addition to completing the necessary application forms, there are fees for both the application and a required background check. If you have any academic credits that you would like to apply to the 336-hour education requirement, you will need to fill out KREC Form 207 and provide certified transcripts.
Broker Reciprocity
If you are already licensed in another state, your requirements to get a broker license can be a little different. Kentucky has a reciprocal agreement with 5 states, which allows brokers from Illinois, Tennessee, Florida, West Virginia, and Ohio to skip the national portion of the licensing exam. Ohio, Florida, and Illinois brokers need to be licensed for 2 years as a broker before applying to Kentucky. West Virginia brokers need to be licensed as a broker for 1 year before applying. Tennessee brokers must be licensed for 3 years before applying. You will also need to fill out the Nonresident Form and pay an application fee, as well as conduct a background check.
Now stop listening to those podcasts and get started on your broker license! If you have any questions about getting your Kentucky license, do not hesitate to call, text, live-chat, or email me at 859-525-0303 and john@perryrealestatecollege.com!
