A real estate career can be rather lucrative and rewarding. If you want to go into real estate, you need to follow the proper process. Learning how to get your real estate license in Wyoming is the first step.
Whether you want to become a real estate agent or you want to go on to become a broker, you will start here. You will need to get your real estate license to work in this industry. Let’s look at the necessary steps to get your real estate license in Wyoming.
How To Get Your Real Estate License in Wyoming in 8 Steps
Step #1 – Meet the Basic Requirements
You will only need to meet two basic requirements to start on the path toward your real estate license in Wyoming. You have to be at least 18 years of age. In addition, you have to be able to legally work in the United States. You can be a United States citizen or a lawfully admitted alien.
Of course, you will also need to pass a background check. If you’re worried about something that might show up, you should speak with an expert before going through the process.
Step #2 – Complete the Pre-Licensing Course
Your next step is to complete the 54-hour pre-licensing course in Wyoming. This course will provide you with the education you need to become a real estate agent. The course includes two different classes:
- Salesperson I – 30 hours
- Salesperson II – 24 hours
Both courses can be fully completed online, from the comfort of your home. You can use one of the top online real estate schools to complete this education. Often, these schools also provide good exam prep for the real estate exam.
You can get a complete package with everything you need to become a real estate agent. Online real estate schools often have different packages and different formats. You can choose a self-paced course or you can choose a Livestream scheduled course.
Step #3 – Pass the Wyoming Real Estate Exam
After you complete the pre-licensing course, you will need to pass the real estate exam. This exam comes with a $141 fee per attempt. If you don’t pass it, you will pay this fee a second time and for all retakes.
The Wyoming real estate exam has 132 questions you will need to answer. The national section includes 100 questions and the state section has 32 questions. You will have four hours to complete the entire exam.
You will need to get 70 questions on the national section correct and 24 questions correct on the state section to pass. As soon as you complete the exam, you will know if you pass or fail. If you fail, you will get a breakdown of the areas and your score in each. This can help with studying for the retake.
You will need to register to take the exam on the PSI Wyoming real estate page.
The real estate exam must be taken at an approved testing facility. These facilities are found in the following cities:
- Casper
- Cheyenne
- Evanston
- Gillette
- Laramie
- Mountain View
- Rawlins
- Riverton
- Sheridan
- Torrington
You will not be able to take this exam online. If you fail, you can retake the exam for an additional fee.
Step #4 – Pass the Background Check
You will also need to complete the fingerprinting and background check step. If you want to get your real estate license in Wyoming, this is a required step. You will need to have a full background check done.
This process begins by calling your local law enforcement agency to get your fingerprints taken. They will complete two blue fingerprint cards, which will need to be signed. These fingerprints, along with your license application form will need to be mailed to the Wyoming Real Estate Commission.
You will need to include a $39 certified check or money order payable to the Office of the Attorney General, as well. Once you turn in your fingerprints, the background check process will begin.
The Wyoming Real Estate Commission will review the report. If they need more information, they will reach out to you.
Step #5 – Get Errors and Omissions Insurance
All real estate licensees in Wyoming must have errors and omissions insurance coverage. You will need to Commission to make sure your coverage meets the minimum requirements. There are several providers to choose from for your E&O insurance.
Step #6 – Submit Your Application
Finally, you will need to submit your real estate license application in Wyoming. This will include many documents, which must be sent to the Wyoming Real Estate Commission. The fee is $300, which must also be sent in.
You will need to include:
- The fees you need to pay
- Fingerprint cards
- A close-up picture
- Certificates from your pre-licensing course
- Examination passing score report
- A copy of your birth certificate
- A copy of your driver’s license or Passport
- Proof of E&O insurance
Step #7 – Review Process
At this point, you will just need to wait. The process of review takes five to ten business days. After you are approved, your license will be emailed to your responsible broker.
Step #8 – Sponsorship
You will need a sponsoring broker as a real estate agent. When your license is issued, it will actually go to your broker, not you.
Frequently Asked Questions About Getting Your Real Estate License in Wyoming
What can I expect to earn each year as a real estate agent in Wyoming?
Since real estate agents are not paid salaries or hourly wages, the earnings can vary. You will be paid based on a commission agreement with your sponsoring broker. Each person you help sell or buy a home will earn you a percentage of the sales price of the home.
Some agents will earn more than others. It’s possible to work as a part-time real estate agent, too. This means the salary range can be rather large.
Indeed.com puts the average salary for a real estate agent at nearly $140K in Wyoming. However, there were only 14 salaries reported, so this might not be completely accurate.
ZipRecruiter.com provides an average salary at closer to $86K per year. This source provides a range of salaries from $34K to about $148K. This might be a bit more accurate.
What is the cost to get a real estate license in Wyoming?
The fees you will need to pay to get your license add up to $667. Along with these fees, you will need to get the pre-licensing course. This course can range from $600 to $900. Your total cost to get your license will range from about $1,267 to $1,567.
Along with your license cost, most agents will pay association dues and pay for the Multiple Listing Service. Both can cost a few hundred dollars.
Is the Wyoming real estate exam difficult?
Yes, this exam is difficult. Without studying, you may struggle to pass it on the first try. Many will take it and many will have to retake the exam a second or even third time. However, if you invest in a good exam prep course, you can pass the first time.
How long will it take me to get my real estate license in Wyoming?
The process to get your license can take three to six months. However, you can get it done faster if you complete the pre-licensing education faster. This step is the most time-consuming.
It’s possible to complete your pre-licensing course in two weeks. If you can do this and pass the exam the first time, you can get your license in less than a month. It’s more common for the process to take three or four months, however.
Does Wyoming offer reciprocity with any other state?
No. Even if you have a real estate license in another state, you will have to complete the pre-licensing education and pass the exam.
Do I need to renew my real estate license in Wyoming?
Yes, every three years, your license will need to be renewed by December 31st. This process requires you to complete a total of 45 hours of continuing education.
Mandatory courses will cover 24 hours with 21 hours of electives. These courses can be completed online through a top online real estate school.
When you want to enter into a real estate career, you will need the proper licensing. Learning how to get your real estate license in Wyoming is the first step. This process can lead you to become a real estate agent.
A career in real estate can be very rewarding and lucrative. Top agents in Wyoming can earn far more than $100K per year. Of course, it may take years of work and experience to reach this point.
Choosing a good provider for your pre-licensing course is a good start. Some online real estate schools offer additional courses to help you build your career. You can advance faster if you choose the right package for your real estate education.
