Iowa Admin. Code r. 193E-16.2

Current through Register Vol. 46, No. 22, May 1, 2024

Rule 193E-16.2 - [Effective until 5/22/2024] Salesperson prelicense requirements

(1)Required course of study.

a. The required course of study for the salesperson licensing examination shall consist of 60 live instruction or distance learning hours of real estate principles and practices to comply with the requirements of Iowa Code section 543B.15. The curriculum shall include, but not be limited to, the following subjects:

Introduction to Real Estate and Iowa License Law ................................. 12 hours

Ownership, Encumbrances, Legal Descriptions, Transfer of Title and Closing .......... 12 hours

Contracts, Agency and Antitrust ................................................ 12 hours

Valuation, Finance and Real Estate Math ......................................... 12 hours

Property Management/Leasing, Fair Housing, Environmental Risks and Health Issues .................................................... 12 hours

b. At the time of submission of an application, an applicant applying for an original salesperson license must also provide evidence of the following live instruction courses: 12 hours of Developing Professionalism and Ethical Practices, 12 hours of Buying Practices and 12 hours of Listing Practices. All the required education must be completed during the 12 months prior to the date the application is postmarked or received.

(2)Completion of prelicense education. Successful completion of the salesperson prelicense education includes passage of an examination(s) designed by the approved provider that is sufficiently comprehensive to measure the student's knowledge of all aspects of the course(s). Times allotted for examinations may be regarded as hours of instruction.

(3)Substitution of courses. Written requests for substitution of the salesperson prelicense education courses specified in 16.2(1) may be granted if the applicant submits evidence of successful completion of a course or courses which are substantially similar to the courses specified in 16.2(1). Courses completed more than 12 months prior to commission consideration for approval shall not qualify for substitution.

Iowa Admin. Code r. 193E-16.2

Amended by IAB December 6, 2017/Volume XL, Number 12, effective 1/10/2018