Real Estate Education
Two items. Prelicense and continuing education are both in rule 481-Chapter 2016, with the broker-specific continuing education repeated in rule 481-2003.4. The tested facts are the hour totals and the carryover limits.
Prelicense Education
The salesperson course is 60 hours of real estate principles and practices in five 12-hour blocks: Introduction to Real Estate and Iowa License Law; Ownership, Encumbrances, Legal Descriptions, Transfer of Title and Closing; Contracts, Agency and Antitrust; Valuation, Finance and Real Estate Math; and Property Management/Leasing, Fair Housing, Environmental Risks and Health Issues. At application the salesperson applicant also shows 12 hours each of Developing Professionalism and Ethical Practices, Buying Practices and Listing Practices, all completed in the 12 months before the application. The broker course is the 60 hours required by section 543B.15(7), approved in these subjects: Contract Law and Contract Writing 6, Iowa Real Estate Trust Accounts 6, Principles of Appraising and Market Analysis 6, Real Estate Law and Agency Law 6, Real Estate Finance 6, Federal and State Laws Affecting Iowa Practice 6, Real Estate Office Organization, Administration and Human Resources 12, Real Estate Technology and Data Security 6, and Ethics and Safety Issues for Brokers 6.
Continuing Education for Renewal
Rules 481-2016.4(2) and 481-2003.4(2) require 36 hours per three-year renewal period to renew in active status: an 8-hour law update, a 4-hour ethics course, and 24 elective hours. An "hour" means 50 minutes of instruction. No more than 24 of the 36 hours may be taken by distance or online learning. A course counts once per renewal period unless both the course number and the instructor differ. Credits earned in another state count if approved there for renewal, except state-specific courses, as do courses sponsored by the National Association of Realtors or its affiliates.
Carryover, Records and Audit
Excess hours carry over at up to 50 percent of the requirement, capped at 18 hours from the previous period, and no carryover may be applied to the mandatory eight-hour law update or the four-hour ethics course - the same limits apply when a licensee is making up hours to reactivate an inactive license (rule 481-2016.6). The licensee retains documentation supporting claimed education for six years after the effective date of the renewal, and the commission verifies by random audit or on a test basis. A licensee who does not provide evidence of claimed education within 30 days of written notice has the license placed on inactive status. Filing a false affirmation is prima facie evidence of a section 543B.29(1) violation.
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State-specific details
State exam facts
- State regulator
- Iowa Real Estate Commission (DIAL)
- Exam vendor
- PSI
- Scored questions
- 115
- Time limit
- 180 minutes
Who regulates real estate brokers in Iowa?
The Iowa Real Estate Commission, now within the Department of Inspections, Appeals, and Licensing (DIAL), licenses brokers and salespersons. The Commission contracts with PSI to deliver the exams.
What experience do I need before the Iowa broker exam?
Iowa Code § 543B.15(7) requires 24 months as a licensed salesperson actively engaged in real estate (or substantially equal experience) plus 60 contact hours of Commission-approved broker education completed within the 24 months before the broker exam — on top of the salesperson pre-license course.
How is the Iowa broker exam structured?
PSI bulletin 120 sets the broker exam at 115 scored questions in 180 minutes: a 75-question national portion scored to 80 points (pass 60 points, 120 minutes) and a 40-question Iowa portion worth 40 points (pass 30, 60 minutes). Both portions must be passed. The national portion is scored by points because some national broker items are worth two points.
Sources: https://dial.iowa.gov/licenses/other-professional-licensure/real-estate-licensees, https://test-takers.psiexams.com/api/content/bulletin/120
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