Iowa Real Estate Practice Exam

What is a requirement to obtain an Iowa salesperson's license?

1. Having a college degree in real estate

2. Obtaining a sponsoring broker's signature on the application form

3. Completion of an online course on real estate regulations

4. Passing a background check

The correct answer is: Obtaining a sponsoring broker's signature on the application form

To obtain an Iowa salesperson's license, it is essential to have a sponsoring broker's signature on the application form. This requirement ensures that the applicant is aligned with an established brokerage that will provide the necessary support, mentorship, and supervision as they begin their career in real estate. The sponsoring broker has a vested interest in the training and conduct of salespersons associated with their brokerage and must confirm that the new licensee is part of their business before the license can be processed. While having a college degree in real estate, completing an online course on regulations, or passing a background check may be beneficial or required components in various contexts, none of these elements substitute for the need for a sponsoring broker's involvement, which is fundamental to the licensing process in Iowa. Having a broker ensures adherence to industry standards and compliance with state regulations.