Becoming an Alaska real estate broker is a strong step forward in your career. Not only does this advanced license look great on a resume, it also allows you to work independently, open real estate brokerage firms, and manage other agents within these firms.
Getting the Alaska Real Estate Broker License is a fairly simple process, but it does require you to complete five steps, and have a few prerequisites before applying or taking the broker’s exam.
This guide covers all of these requirements in a simple, easy to understand way that will make it easier for you throughout this process.
Alaska Real Estate Agent vs. Real Estate Broker
Alaska offers two different types of real estate license: Sales and Broker.
A sales agent’s license is the initial license that real estate agents get in order to sell real estate.
A broker’s license is an advanced license that allows the license holder to operate at a higher level within real estate businesses in Alaska.
People often confuse sales agents and brokers. A simple way to look at the difference is that holders of the sales agent’s license are called real estate agents, while holders of the broker’s license are called real estate brokers.
Alaska Real Estate Broker License Requirements
First, to be eligible for a real estate broker’s license, you must meet the prerequisites to become a real estate broker in Alaska.
These prerequisites are:
- Must complete 30 hours of broker training in Alaska
- Must show evidence of working 36 months (three years) in real estate within the last 60 months (five years) and submit an Associate Broker by Examination application under a supervising broker
- Must have real estate as principal occupation and either own a real estate business or work as the broker for a corporation or partnership
How to Become a Real Estate Broker in Alaska
Once you meet all the requirements listed above, you can follow these five steps to easily help you get your real estate broker license in Alaska.
Step 1: Complete an Alaska Broker Pre-Licensing Course
The first step to getting your real estate broker license in Alaska is to take 30 classroom hours of qualifying real estate courses.
Recommended Course:We recommend Colibri Real Estate for real estate pre-license courses in Alaska.
Colibri Real Estate
These real estate courses mostly cover the fundamentals of working in real estate and must be completed within six months of your broker’s license application.
The required 30 classroom hours of qualifying real estate courses, including the mandatory courses in the following topics:
- Broker supervision requirements and record keeping
- Trust accounting procedures
- Organizing and managing a real estate office
- Property management
As part of the 30-hour requirement, you must also take the required broker-level education in the following areas:
- Licensee relationships, disclosure, and conflict of interest
- Forms of ownership
- Property law, public and private rights, and limitations
- Forms of conveyances and recording of documents
- Contracts and transaction documents
- Financing instruments and accounting principles
- Alaska real estate license law and Alaska landlord tenant law
- Federal fair housing and Real Estate Settlement Procedure Act (RESPA) laws
Alaska offers full reciprocity, meaning if you’ve successfully held your license for over a year in another state and successfully pass the state portion of the Alaska real estate broker exam, you can use your continuing education (CE) hours and transfer your license.
After completing the courses, you must also pass the final broker course exam. The minimum passing grade is 75%. The final pre-license exam is to be supervised by a proctor, whether on-site or online. This is not the same as the state broker exam.
After passing your broker course exam, your pre-license education provider will provide you with your course completion documents. You must submit your course completion records to the Alaska Real Estate Commission at RealEstateCommission@Alaska.gov.
Step 2: Pass the Alaska Real Estate Broker Exam
Once you meet the broker pre-licensing education requirements and pass the course exam, you must take the real estate broker licensing exam via Pearson VUE.
The fee for the broker exam is $100.
In Alaska, brokers take the same General Exam section as real estate agents which consists of 80 scored questions. The state-specific section of the broker’s exam consists of 40 scored questions. You must complete the Alaska real estate broker exam within 240 minutes (four hours total).
The passing rate is 75% for the Alaska Real Estate Broker Exam: 60/80 on the General Exam section and 30/40 on the state-specific section.
If you fail your test, you must wait 24 hours before reapplying and retaking the exam. In addition, you cannot apply to retake the exam at the test center. Once you finish your exam, you will receive a notification of “pass” or “fail” on the computer screen.
If you fail one part of the general or one part of the state broker exam, you will need to retake the entire test. Candidates who fail the examination will receive a score report that includes a numeric score and helpful information related to the general exam and reexamination guidelines.
Taking an exam prep course provides you helpful tools and materials, such as quizzes and specific state-only practice exams, to increase your chances of passing your broker license exam the first time.
Step 3. Obtain Errors and Omissions Insurance
Before applying for your license, you must obtain and submit proof of Errors and Omissions (E&O) Insurance, either through the Master Policy offered by RISC or through equivalent coverage.
Step 4: Submit an Alaska Broker License Application
After you completed the requirements above, you can now apply for your license.
To submit your broker license application, you must use REC’s MyAlaska System. The application fee is $390. Use your registered username with REC on the MyAlaska portal and submit all information and documents online.
If you don’t want to file online, you can also apply using a paper application form.
Make sure to include your Verification of Real Estate Licensee Experience on your application with your supervising broker’s approval. Only fill out the top form and your supervisor will fill out the rest to vouch for your experience.
You must also disclose all criminal background information and relevant information on the Alaska real estate broker application. Omitting information might work against you and prevent you from fully explaining your situation and obtaining your license. The REC will then determine if you are suitable to obtain a license, or reject your application.
Note:If you aren’t sure whether you qualify for a real estate broker license based on your history, check out our article on Real Estate License Eligibility.
Step 5: Application Review
After you have submitted your license application, you will only need to wait for REC to review and approve your application.
In addition, you can call the REC at (907) 269-8160 or send an email at RealEstateCommission@Alaska.Gov for other concerns.
Now that you’ve successfully passed the broker licensing exam and obtained your license, there are a few things you need to do to keep your broker license active and updated.
Alaska Real Estate Broker License Renewal and CE
In Alaska, you must renew your real estate broker license every two years. All real estate licenses expire on August 31st of odd-numbered years, regardless of when you were first issued your license.
The only exception is new licenses issued within 90 days of the expiration date. The renewal process is not the same for the broker license and sales agent license.
To renew your license, you must submit an Application to Change License Status, certificate of completion for 20 hours of CE for your licensing period, and verification of E&O insurance. The renewal fee is $140, plus a $50 recovery fund fee.
Alaska Post-Licensing Education
After getting your broker’s license, you are also required to complete 30 hours of post-licensing education (PLE). This education is in addition to the 20 CE hours that must be completed before your license renewal.
After the required 30 hours of PLE is completed, you must submit an Affidavit of Post-Licensing Education along with a $50 fee to the REC. You must attach copies of certificates verifying completion within one year following the completion of your PLE. If you fail to comply with the post-licensing requirements, your license will lapse after 30 days after the end of the one-year period and you will be required to reinstate your license.
Alaska Real Estate Broker License FAQ
How much does it cost to get a real estate broker license in Alaska?
The costs of getting a real estate broker license in Alaska can range between $699 and $889.
The cost breakdown is as follows:
Pre-license education courses: $209-$399
Broker exam fee: $100
Application fee: $390
How long does it take to get a real estate broker license?
The steps that typically take the most time when getting a broker license include taking pre-license education courses and exams. The average amount of time to get a broker license is generally three to six months.
What is the difference between a real estate agent and a real estate broker?
Real estate agents focus on working with clients on individual real estate transactions, while real estate brokers have more experience with the added responsibility of managing a team of real estate agents or brokerage business.
See our Real Estate Agent vs Broker vs Realtor page for more information.
How much does a real estate broker make?
Real estate brokers get paid just like real estate agents by earning commissions on their agents’ sales. Brokers can also charge the real estate agents they manage a fixed monthly fee or opt to earn money on commission sales by helping their own clients buy and sell property. According to Payscale data, brokers earn $61,314 per year in base salary, with anywhere between $10,000 and $147,000 in commissions. The Bureau of Labor Statistics indicates that the median broker salary is $62,010.
How do I get a job as a real estate broker in Alaska?
Browse through available real estate broker jobs in your area using our StateRequirement Job Board!
Alaska Division of Corporations, Business, and Professional Licensing – Real Estate Commission
Alaska Real Estate Commission
550 W. Seventh Ave., Suite 1500
Anchorage, AK 99501
Phone: (907) 269-8160
Information on this page has been gathered by a multitude of sources and was most recently updated in October 2022.
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