(**) Disclosure: This post may contain affiliate links, meaning RealEstateCareerHQ.com will get a commission if you decide to make a purchase through the links, but at no additional cost to you.
Property management can be a rewarding career with great advancement opportunities. If you are thinking to become a property manager in Oklahoma, this is the perfect guide for you!
To become a property manager in Oklahoma, an applicant must have a real estate license. The individual can be a “Real Estate Broker” or a “Sales Associate” who works under the supervision of a broker. The Sales Associate licensee needs to complete 90 hours of pre-licensing course, pass the salesperson exam, go through a background check, submit an application and fees to the Oklahoma Real Estate Commission.
As a property manager, your duties may include finding and screening prospective tenants for a property, negotiating the lease terms. You could also be responsible for rent collection, property inspection, maintenance, repair, providing updates, and communicating with the property owner.
In this guide, I will focus on the steps on getting a “real estate salesperson” license, which is the entry license level. So you may begin your property management career by joining a licensed brokerage firm. I will also cover the income updates and other FAQs about this profession.
But before we start, I want to give a brief disclaimer. This post is not intended as legal advice or state/federal real estate training. It is for general information only. Please always follow your State laws and best practices.
When choosing a real estate school, I prefer one where you could take the courses online. This way, you could study at your own pace whenever and wherever. The CE Shop is a trustworthy real estate education provider. You may click here to see whether they offer pre-licensing course in your state. (**)
A Quick Table Summary of Becoming a Property Manager in Oklahoma
| Eligibility | Education | Exam | Fees |
|---|---|---|---|
At least 18 years of age Citizen of the United States or lawfully admitted alien Have a valid Social Security Number | 90 hours of pre-licensing courses 45 hours of post-licensing courses 21 hours of continuing education each license term | 130 questions 3 hours of writing time Consists of National Portion and State Portion Required passing score is 75%. | Pre-licensing courses fees – $264 to $414 (approximately) Background check fee – $60 Provisional Sales Associate License fee – $95 Application processing fee – $35 Exam fee – $60 |
10 Steps to Become a Real Estate Agent in Oklahoma
Step 1: Meet the eligibility requirement
- Citizen of the United States or lawfully admitted alien
- At least 18 years old
- Have a valid Social Security Number
Step 2: Complete the pre-licensing education
You are required to take 90 hours of course which covers different real estate concept. It consists topics such as instruction in real estate law, types of interest and ownership, home ownership, legal descriptions, titles, liens, taxes, encumbrances, listing advertising, appraisal, finance, closings, and professional code of ethics.
I just checked with an approved provider and the real estate course fee is approximately $264 to $414.
Step 3: Go through a background check
The Oklahoma Real Estate Commission is responsible for issuing licenses to real estate salesperson and brokers. To protect the public interest, they need to know about applicant’s criminal history.
To go through a background check, you have to submit a fingerprint to IdentoGo, which is the approved vendor. You may schedule the appointment here, and the service code is “2B7NR3”. The background check fee is $60.
Step 4: Apply for a Provisional Sales Associate (PSA) license
In Oklahoma, you must submit the application within 3 years after taking the pre-licensing course. Else, you will need to re-take it. You may submit the application through the Oklahoma Real Estate Commission’s application portal.
In the application, it may ask you to provide personal details, the completion info of pre-licensing course, and background questions. You also need to provide a proof of citizenship. (Usually, a copy of valid passport or birth certificate is fine). The license fee is $95 and application processing fee is $35.
It typically takes 5 business days for the Commission to review your application. Once it is approved, they will notify you through email with the Candidate ID info so you may schedule the exam.
Step 5: Pass the Oklahoma Real Estate Salesperson Exam
The Oklahoma real estate salesperson exam has 130 questions with 3 hours of writing time. It consists of the National Portion and the Oklahoma State-Specific Portion. The required passing score is 75%.
The test is administered by the PSI. To register, you need to complete their online exam registration and provide them with the required documents. There is a $60 examination fee which could be paid by credit card.
Since the exam is a computerized test, your result will appear immediately on the screen. If you pass, you’ll receive a passing letter. Else, you will receive a score report stating your strengths and weaknesses. Then you may schedule to retest as soon as the next day.
The exam is to test your knowledge on the real estate topics that are covered in the pre-license education. Doing multiple sets of practice questions is an excellent way to prepare for the exam and also boost your confidence.
The Colibri is the online school that I like. Their Exam Prep have helped thousands of students pass their exam on the first try. They even have a “Pass or Don’t Pay” Guarantee. That’s why confident they are with their program. You may click here to view their exam prep. (**)
Step 6: Join a reputable property management firm
After you pass the exam, you must work with a property management company who holds the managing broker license in Oklahoma. This is the firm who would sponsor your real estate license.
Keep in mind that not all brokerage provide property management services to their clients. Most brokerages focus only on the buy-sell side of the business. So make sure you find one that specializes in property management.
At the time that I’m writing this guide, I can see many online job postings looking for property managers. You may search through job forums such as ZipRecruiter, Glassdoor, or LinkedIn.
There are many property companies out there, but not all are suitable for you. As you start in this industry, it is better to work for a company that could provide you with proper training and mentorship. And you would likely start out working as an assistant to a property manager.
Rather than to reinvent the wheels, an established property management company can show you a standard procedure in working with clients.
Step 7: Obtain the Sales Associate license status
Before the one-year provisional license term expires, you must complete 45 hours of post-licensing course from an approved education provider. This is for new real estate agents and will cover topics such as marketing, finance, brokerage relationships, state and federal laws and regulations.
Then you will submit an application and a fee of license $200 to upgrade the license to the “Sales Associate” status. The application processing fee is $35.
Step 8: Maintain the real estate license
All Oklahoma real estate licensees must renew the sales associate license every three year. You may do so through the same online registration portal. The renewal fee is $200.
Furthermore, you need to complete 21 hours of real estate continuing education during each license term. The curriculum must include 1 hour in each of the following:
- Broker Relationship Act
- Code and Rules
- Contracts and Forms
- Fair Housing
- Hot Topic
- Professional Conduct
So know your deadlines and don’t wait until the last minute to complete CE and renew your license.
Step 9: Keep up with the real estate laws and best practices
In order to be successful in the property management industry, it’s better to keep up with the latest laws and regulations. You may read over the “Oklahoma Statues Title 41: Landlord and Tenants.”
In there, you can learn essential rules that are applicable to your property management activities – for example, who deemed tenant at will, termination of tenancy from year to year, rent payable, damage, or security deposits.
You may also consider taking the following courses to equip yourself with the property management knowledge. They are offered by Institute of Real Estate Management (IREM). IREM is an affiliate of the National Association of REALTORS®.
- Managing Residential Properties (**)
- Managing Commercial Properties (**)
- Managing Condominium and Homeowners Associations (**)
Even though they are not part of the pre-license education requirement, your enhanced knowledge will help to set you apart from others in the industry.
Step 10: Build your network with other real estate professionals
You may consider joining the National Association of Residential Property Managers (NARPM). This allows you to connect with other property managers, thus learn from their valuable experience and share ideas with one another. You will also find updates on the housing markets, changes to the laws and regulations.
Another group you may consider is the Oklahoma Association of REALTORS. It consists of mostly real estate professionals such as sales agent, brokers and appraisers.
If you plan to run your own property management company, this can be a great referral source for your business. They also have great resources such as the classes, events, housing reports and industry updates.
Here’s a snippet of what a property manager thinks about this career
“I’ve been a property manager for six years, and for three years before that, I was an admin and then an assistant property manager. Being a property manager is an excellent career. The schedules are long days but flexible. If you are a parent, you will be able to attend your kid’s functions as long as you are willing to work late to make up. It’s not a micro-managed industry, so you must have the drive and high standards all on your own, else you won’t last very long. The mistakes are bigger and cost more money than other real estate lines, but the pay is great, and you can create the life balance you need if you work at it.
My advice to someone wanting to get into property management is to learn everything you can as soon as you can. Take advantage of resources and lean on experience people’s knowledge and experience.”
– Nandi Cavil, Commercial Property Manager at Cushman & Wakefield
Here’s another post where you can read more on Nandi’s thoughts about the property management profession. In there, you can find my research and analysis on this career path and valuable insights from other property managers.
FAQ about being a Property Manager in Oklahoma
How much does it cost to become a property manager in Oklahoma?
It costs approximately $664 to become a property manager in Oklahoma and that is the cost to get the real estate license. Here’s the breakdown:
- Pre-licensing courses fees – $264 to $414 (approximately)
- Background check fee – $60
- Provisional Sales Associate License fee – $95
- Application processing fee – $35
- Exam fee – $60
The above are just the costs of getting the provisional license. To upgrade it into the “Sale Associate” status, there will be an additional $200 license fee and the post license education is about $160.
Also, you may want to invest into exam prep. This can increase your chance in passing the exam on the first try, so that you don’t need to waste time and money in retaking it.
How long does it take to become a property manager in Oklahoma?
It takes approximately four months to become a property manager in Oklahoma. But it also depends on the time it takes you to complete the pre-licensing course, exam, background check, application, and get employed by a licensed property management firm.
You may speed up in getting the real estate license by taking online courses. This way, you’ll have the flexibility to finish the pre-license education at a quicker pace. Online application submission will also eliminate the mailing time.
Can a felon be a property manager in Oklahoma?
The Oklahoma Real Estate Commission maintains a list of felony crimes that would disqualify an applicant from obtaining a real estate license to be a property manager. They will put into consideration of the applicant’s honesty, trustworthiness, character and integrity.
Typically speaking, the Commission will pay attention to offenses that are within ten years period. They include completion of the criminal sentence, including parole and probation.
Whether a felon can be a real estate agent is subjected to how the licensing commission evaluates the case. Before you invest your time and money into this profession, you may write to request an initial determination from the Commission.
To do so, you need to submit a copy of the criminal history and any related documents (i.e., court records). There is a $95 fee.
But don’t get discouraged as everyone has a past. The most important is that you can demonstrate that you will serve the public in a fair, honest, and open manner.
Here’s another post that covers how to apply for a real estate license with a felony record. In there, you’ll find practical ideas which could help your application.
How much do property manager make in Oklahoma?
Property managers in Oklahoma make an average annual income of $95,497. It typically range between $82,900 and $109,871. (*) Your earning as a property manager would depend on your skills, knowledge and experience in managing the properties. The type and number of real estate in your managing portfolio may also affect your compensation.
At the beginning phase of your property management career, you could be working as an assistant for a property manager. So your earning could be limited at that time.
But once you have developed the necessary skillset and demonstrated your ability to work independently, there should be a significant improvement to your earning.
(*) Source: Salary.com May 27, 2021
Here’s salary guide you may be interested. In there, you’ll find the income figures for residential and commercial property managers. What makes one earn more than others? How do education, experience, and certification play a factor in earning?
How do I start my own property management company in Oklahoma?
Rather than working for someone else, you may consider getting a real estate broker license and start a property management company. This allows you to hire other licensed property managers, thus, lead to a scalable business model.
However, running a company is very different from working as an employed property manager. You need to figure out all the different aspects of the business, such as marketing, branding, prospecting, hiring, training, and accounting.
The expenses will also be a lot higher. In addition to the broker license, you also need to account for business insurance, staff’s salary and benefits, office rent, furniture, office supplies, software, many more.
To obtain a real estate managing broker license in Oklahoma, you must:
- Have at least 2 years of active real estate work experience within the past 5 years;
- Complete 15 hours Oklahoma Broker course and at least 1 hour of CE in each of the following:
- Oklahoma Broker Relationship Act,
- Oklahoma Code and Rules,
- Oklahoma Contracts and Forms.
- Pass the Oklahoma Real Estate Broker Exam;
- Submit a background check through IdentoGo;
- Submit an application and a license fee to the Oklahoma Real Estate Commission;
- Complete CE and license renewal requirement
I have more questions about the Oklahoma real estate license, whom should I contact?
You may contact the Oklahoma Real Estate Commission:
- 1915 N Stiles Ave #200,
- Oklahoma City, OK 73105
- help@orec.ok.gov
- Hours: Monday – Friday 8:00 AM – 4:30 PM
Since you are reading up to this point, I bet you must be interested in becoming a property manager. If that requires you to get a real estate salesperson license in your state, your first step is to complete the pre-license education. You should select one that has an excellent reputation and a long-term track record of satisfying students. The Colibri is exactly that! You may click here to check it out yourself. (**)
(**) Affiliate Disclosure: Please note that some of the links above are affiliate links, and at no additional cost to you. Our company, JCHQ Publishing will earn a commission if you decide to make a purchase after clicking on the link. Please understand that we include them based on our experience or the research on these companies or products, and we recommend them because they are helpful and useful, not because of the small commissions we make if you decide to buy something through the links. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.
Disclaimer: The information in this post is for general information only, and not intend to provide any advice. They are subjected to change without any notice, and not guaranteed to be error-free. Some of the posts on this site may contain views and opinions from individual not related to JCHQ Publishing. They do not necessarily reflect our view or position.
Reference:
- Oklahoma Real Estate Commission (source)
- PSI Oklahoma Real Estate Licensure Applicant Information Bulletin (source)
- RedFin – Oklahoma Housing Market (source)
- Oklahoma Association of REALTORS (source)
- Salary.com – Property Manager in Oklahoma (source)
- National Association of Residential Property Managers (NARPM) (source)
