Licensee Approximate Fees and Costs:
- Pre-Licensing Education $300-$600 (40 hours)
- Real Estate Examination $100
- Licensing Fees $605
- Post Licensing Course $200-$400 (30 hours to be completed within ONE year of receiving license).
- Continuing Education $200-$400 (20 hours to be completed every two years)
- License Renewal: $480 (Renewed by January 31 on even-numbered years)
REALTOR® Membership Fees:
- Application Fee $150
- Annual Dues $499
GFBR MLS and ReaderKey Fees:
- MLS Monthly Dues $55
- eKey Activation Fee $50
- eKey $12.95/month
Other Potential Costs to Consider:
- Real Estate Office Desk Fee
- Vehicle Wear-and-Tear
Prerequisites for all Licenses
In accordance with AS 08.88.171, a person desiring to acquire any type of real estate license in Alaska must:
- Pass the appropriate exam
- Not be under indictment for conspiracy to defraud, or fraud.
- Apply for licensure within six months after passing the exam.
- Pay the appropriate fees [12 AAC 64.073 and 12 AAC 02.360]
- Meet the appropriate education requirements.
Additional Requirements for Salesperson License
An applicant wishing to become a licensed salesperson must:
Be at least 19 years of age and work for alicensed broker.
Complete 40 classroom hours approved pre-licensing education.
What could prevent you from being issued a real estate license?
- Being under indictment for a felony, forgery, theft, extortion, conspiracy to defraud creditors, fraud or other crimes that in the judgment of the commission affects the person’s ability to practice as a real estate licensee.
- If convicted of a felony, forgery, theft, extortion, conspiracy to defraud creditors, fraud or other crimes that in, in the judgment of the Commission, affects the individual’s ability to practice as a real estate salesperson competently and safely, seven years must have lapsed since the individual completed the sentence that was imposed upon conviction.
- Having had a real estate license revoked, denied, suspended, surrendered, placed on probation, or subject of any restriction, censure, reprimand, consent agreement or any other disciplinary or license action in the State of Alaska or any other jurisdiction.
- Ever having a fidelity bond denied or revoked.
- Ever being the subject of an unresolved complaint or disciplinary action before a real estate regulating authority or a professional real estate association or any other professional regulatory entity in the State of Alaska or any other jurisdiction.
- Ever having a lawsuit filed against you alleging deceit, fraud, misrepresentation, or conversion of funds in the State of Alaska or any other jurisdiction.
- Not disclosing to the Alaska Real Estate Commission, all convictions and disciplinary actions regardless of how long ago or where they occurred. All must be disclosed, including convictions that were set aside, expunged or are pending.
- Providing a falsified application or not answering the professional screening questions completely, accurately, and honestly.
There are two levels of examination: salesperson and broker. The Real Estate Commission contracts with Pearson Vue Testing Services of Philadelphia, Pennsylvania to prepare, administer and grade both versions of the exam.
The Commission is responsible for establishing exam contents, but Pearson Vue retains full copyright over its examinations including the portions covering the Alaska statutes and regulations.
The examination is administered electronically and offered weekly in Anchorage, semi-monthly in Fairbanks and quarterly in Juneau. The fee is $100.
The exam may be provided at other locations on an individual request basis for an additional $50 fee. A candidate guide, prepared by the testing service, is available for download below or via written request to the Alaska Real Estate Commission.
Pearson Vue Testing Service (http://www.vue.com/) For information about taking the Real Estate Exam in Alaska.
Approved list of Real Estate Schools by the Commission: http://commerce.alaska.gov/dnn/Portals/5/pub/Master_School_List.pdf
Following completion of course (40 hours), examination must be completed within 18 months. Following passing of the examination, license must be applied for with the commission within 6 months.
Salesperson Application Form: http://commerce.alaska.gov/dnn/Portals/5/pub/rec4179.pdf
Once you have received your license, you will apply for membership with the Greater Fairbanks Board of REALTORS® to become a REALTOR®.