Principal brokers with a license expiration date after July 1, 2019, renewing a for the first time must take the 27-hour Principal Broker Advanced Practices course.
By Jeff Sorg, OnlineEd Blog
(November 2, 2018)
(PORTLAND, Ore.) OnlineEd – Principal brokers with a license expiration date after July 1, 2019, who will be renewing their active license for the first time, will have to take the 27-hour Principal Broker Advanced Practices course. If the first principal broker license renewal was in inactive status and the principal broker wants to reactivate it for the first time on or after July 1, 2019, they will have to take the 27-hour Principal Broker Advanced Practices course. The 3-hour Law and Rule Required Course (LARRC) is also required to renew or reactivate the license. Except for LARRC, if the principal broker already completed regular continuing education, it will not count if for renewing active for the first time, or if reactivating after an inactive first renewal, on or after July 1, 2019.
Exclusively for OnlineEd customers who completed their regular continuing education with OnlineEd during their first Principal Broker license renewal cycle who cannot use that education for their renewal, they may qualify with OnlineEd to have their previous purchase credited against the $229 price of the OnlineEd 27-hour Principal Broker Advanced Practices course.
Law and Rule Required Course (LARRC) is another 3-hour course that is required for all license renewals. Together, Principal Broker Advanced Practices and Law and Rule Required Course will complete the required 30-hours of education needed to renew a principal broker license. Law and Rule Required Course is free at OnlineEd to all Oregon real estate licensees, whether property manager, broker or principal broker.
The Oregon Real Estate Agency has eight required course categories for Principal Broker Advanced Practices. These topics are:
Module 1: Brokerage Practices, covering business registration and planning
Module 2: Supervising and Managing Real Estate Licensees
Module 3: Affirmative Duties of Agent and Agency Relationships
Module 4: Advertising Rules
Module 5: Property Management
Module 6: Clients’ Trust Accounts
Module 7: Records and Record Maintenance
Module 8: Professional Real Estate Activity
The OnlineEd course divides each topic into smaller learning segments that cover specific facts, information, and details. Each module is populated with learning assessments to help learners comprehend presented information and a 60-question final exam at the end of the course. As with any Oregon continuing education course, Principal Broker Advanced Practices is required to be time-monitored. Once the learner completes all course elements and has spent the minimum necessary time logged into the course, the course final exam is made available. The final exam is not timed, requires a minimum passing score of 75%, and can be taken as many times as necessary to achieve a passing score. After successfully completing the final exam for this 27-hour course, a course completion certificate is generated. This certificate should be printed and kept by licensees in their education files as proof of meeting the OREA-required first-time renewal education course. You are not required to send this certificate to the Agency but must have it available for the Agency for three years after it is used for license renewal.
To sign up for the OnlineEd Principal Broker Advanced Practices course, please visit the OnlineEd web site.
OnlineEd blog postings are the opinion of the author and not intended as legal or other professional advice. Be sure to consult the appropriate party when professional advice is needed.
For more information about OnlineEd and their education for real estate brokers, principal brokers, property managers, and mortgage brokers visit www.OnlineEd.com.
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