Or. Admin. R. 863-014-0040
Current through Register Vol. 63, No. 6, June 1, 2024
Section 863-014-0040 - Principal Real Estate Broker Licensing Requirements(1) To be eligible for a principal real estate broker's license, an individual must complete the following steps in the order listed: (a) Submit a license application and pay the fee to the Agency required by OAR 863-014-0010. The license application includes proof satisfactory to the Agency that the applicant has three years of active real estate experience. (b) If the applicant has never held an Oregon real estate broker license and has not completed the required courses of study for a real estate broker license, the applicant must complete such required courses under OAR 863-022-0010 from an approved school(s). (c) Ensure that the school providing the courses of study for a real estate broker license under (b) of this section, certifies to the examination provider that the applicant completed the course as required by OAR 863-014-0020. (d) Successfully complete the brokerage administration and sales supervision course required by OAR 863-022-0025. (e) Ensure that the school providing the brokerage administration and sales supervision course certifies to the examination provider that the applicant completed the course as required by OAR 863-014-0020. (f) Pass the principal broker licensing examination and pay the fee to the examination provider required by OAR 863-014-0020. (g) If the applicant is not an active or inactive Oregon real estate licensee, provide fingerprints for a criminal background check and pay the fee to the fingerprint services provider as required by OAR 863-0014-0015. (2) If the applicant is required to submit fingerprints under (1) of this rule, the Agency will complete a background check on the applicant, which includes a criminal background check, as required by OAR 863-014-0015. (3) After the requirements in (1) and (2) of this rule are met: (a) Using an online application through the Agency's website, the applicant must specify that the applicant will be conducting professional real estate activity under the applicant's licensed name as provided in (4) of this rule or is registering a business name as provided in (5) of this rule; or (b) Using an online application available through the Agency's website, a principal broker must associate the applicant to the principal broker's registered business name or the principal broker's licensed name. (4) If an applicant wishes to conduct professional real estate activity under the applicant's licensed name, the applicant must first obtain the principal broker license and then complete the Principal Broker Licensed Name application available online through the Agency's website. (5) If an applicant wishes to conduct professional real estate activity under a registered business name registered by the applicant, the applicant must first obtain the principal broker license and then register a business name under OAR 863-014-0095. (6) If the applicant's qualifications for three years of active experience are based wholly or partially upon an active real estate license held in another state, the applicant must furnish with the application a certificate of active license history from the other state.(7) A currently licensed real estate broker who has held a principal broker license and who wishes to be licensed as a principal broker must apply for a principal broker license, pay the required fee and meet all the qualifications for a principal broker license under this rule.Or. Admin. R. 863-014-0040
REA 1-2002, f. 5-31-02, cert. ef. 7-1-02; REA 1-2003(Temp), f. 2-27-03, cert. ef. 2-28-03 thru 8-27-03; REA 3-2003, f. 7-28-03, cert. ef. 8-1-03; REA 2-2005(Temp), f. 6-9-05, cert. ef. 7-1-05 thru 12-26-05; Administrative correction 1-20-06; Renumbered from 863-015-0040, REA 5-2008, f. 12-15-08, cert. ef. 1-1-09; REA 1-2010, f. 6-14-10, cert. ef. 7-1-10; REA 3-2011(Temp), f. & cert. ef. 6-22-11 thru 12-1-11; REA 6-2011, f. 8-15-11, cert. ef. 9-1-11; REA 7-2011, f. & cert. ef. 11-15-11; REA 4-2014, f.4-14-14, cert. ef. 4-28-14Stat. Auth.: ORS 696.385
Stats. Implemented: ORS 696.020 & 696.022