If you’ve been watching the Portland housing market shift and thinking you could do better than the agents you meet at open houses, you’re in good company. Real estate offers a level of independence and earning potential that is hard to find in a standard 9-to-5, especially in a dynamic market like ours.
But before you can start showing bungalows in Laurelhurst or condos in the Pearl, you have to get past the state’s primary gatekeeper: the 150-hour education requirement.
This isn't just a bureaucratic hurdle to jump over. The state views these hours as essential training to ensure you are competent enough to handle what is likely the biggest financial transaction of your client's life.
One quick thing to clear up before we dive in: terminology matters here. In many states, entry-level agents are called "Salespersons." In Oregon, we do things differently. Your first license will be a "Real Estate Broker" license. The person who supervises you is a Principal Broker. So when you see "Broker" in the course materials, that’s you.
Breaking Down the 150-Hour Education Requirement
When people hear "150 hours," they often imagine one massive, semester-long lecture. Fortunately, the Oregon Real Estate Agency (OREA) structures it much more practically.
The requirement is actually split into seven distinct modules. You have to complete all of them to satisfy the state, but breaking them up makes the material much more digestible. You generally can’t schedule your state exam until your education provider certifies that you’ve passed all seven of these sections.
Here is how the hours break down:
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Real Estate Law: 30 hours
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Real Estate Finance: 30 hours
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Oregon Real Estate Practices: 30 hours
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Real Estate Brokerage: 20 hours
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Contracts: 15 hours
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Agency: 15 hours
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Property Management: 10 hours
Who Is Eligible to Become a Broker?
Before you spend money on tuition, it’s smart to double-check that you meet the basic eligibility criteria. The bar for entry is designed to be accessible, but there are a few non-negotiables.
You need to be at least 18 years old and hold a high school diploma, GED, or an international equivalent. You also need to be able to pass a background check, which will include fingerprinting later in the process.
Interestingly, you do not need to be an Oregon resident to get licensed here, but you do need to be eligible to work in the United States.
Step-by-Step: From Application to Licensure
Many people assume the first step is signing up for a class, but in Oregon, the process actually starts with the state. The workflow is specific, so here is the typical path from "interested" to "licensed."
First, you need to register in the OREA eLicense system. This is where you will pay your initial application fee to the state. Once you are registered, the system generates an Applicant ID for you. Do not lose this number—you literally cannot sign up for an approved education provider without it, as schools need it to report your credits to the state.
With your Applicant ID in hand, you can enroll in your 150-hour pre-license course. Once you finish the coursework and pass the school’s final exams, your provider will electronically verify your eligibility with PSI, the testing service.
After that verification happens, you can schedule your state licensing exam. Once you pass that test, finalize your background check, and find a Principal Broker to hold your license, you are officially in business.
Costs and Timeline Expectations
It is important to have a realistic budget before you start. While real estate has a lower barrier to entry than starting a coffee shop or a tech firm, it isn't free.
If you treat the coursework like a full-time job, you can power through the material in about 4 to 6 weeks. However, most people are balancing a current job or family life, so an average timeline is closer to 3 to 6 months.
Financially, here is roughly what you should budget for the startup phase:
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State Application Fee: $300 (paid directly to OREA)
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Exam Fee: $75 (paid to PSI per attempt)
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Fingerprinting: Approximately $61.25
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Course Tuition: Ranges from $300 to $800 depending on the school
All in, you are looking at a total estimated budget of $750 to $1,200 to get the license in your hand. This doesn't include MLS dues or brokerage fees, which come later, but it covers the essentials to get legal.
Choosing a Provider: Online vs. In-Person
You have a few options for where to get those 150 hours, and the right choice usually depends on your learning style and schedule.
Online courses are by far the most popular choice in Portland. They are generally self-paced, meaning you can chip away at the Real Estate Finance module at 10 PM after the kids are asleep. They also tend to be the most affordable option.
Livestream or in-person classes are great if you know you need accountability. If you are the type of person who buys a gym membership but never goes, having a scheduled Zoom class or a physical seat to fill might be the only way you finish. However, local in-person options can be limited compared to the dozens of online approved education providers available.
Just make sure whoever you choose is on the OREA approved list.
Taking the Exam in Portland
Once you finish your school hours, everything culminates in the exam administered by PSI Services.
The test is split into two parts: a National section with 80 questions and a State section with 50 questions. You need to score a 75% on both sections to pass. You'll have about 3.5 hours to finish, which is usually plenty of time if you know your stuff.
For those of us in the metro area, the main testing spot is the Portland PSI center on NE Sandy Blvd. It’s a standard office park setup—nothing glamorous. If you are further south, there is also a testing location in Wilsonville.
Final Step: Finding a Principal Broker
Passing the exam is a huge win, but legally, you cannot sell a single house yet. In Oregon, a Broker license is inactive until it is registered under a Principal Broker.
Your license is technically issued to the registered business name of the Principal Broker you choose to join. This is why it is smart to start looking at how to find a brokerage while you are still studying. You can interview with different offices, see who offers the best training or splits, and have your paperwork ready to go the moment you pass your exam.
Frequently Asked Questions
How long is the real estate course in Oregon?
The content covers a mandatory 150 hours of material, but the actual calendar time depends entirely on you. If you study full-time, you might finish in a month; if you study part-time, it typically takes 3 to 6 months.
Can I take the Oregon real estate exam online?
Yes, PSI offers a remote proctoring option that allows you to take the exam from home on a computer with a camera. However, many people still prefer going to a physical test center like the one on NE Sandy Blvd to avoid technical glitches or distractions.
How hard is the Oregon real estate broker exam?
The exam is challenging but passable if you have actually studied the 150 hours of material. The pass rates fluctuate, but students who take practice exams and focus on the vocabulary usually do fine. It is not an exam you can "wing," but it isn't impossible either.
