How to Become a Real Estate Principal Broker in Oregon

If you've been doing well as a broker and are wondering what comes next, you could be ready to advance. Managing your own office, training new agents, and creating something entirely new is all made possible by becoming a Principal Broker in Oregon. This is the step that puts you in control of your real estate profession, regardless of your goals—be they team leadership, brokerage startup, or just having more control over your work.

We'll lead you through every step of the way in this guide, from the state exam to the necessary courses and qualifying standards. You'll gain in-depth knowledge of the process, what to anticipate, and whether this next step is a good fit for you. Let's get started!

Steps to Become a Real Estate Principal Broker in Oregon

The road to becoming a Principal Broker in Oregon is simple, but it’s important to know each step along the way. Here’s a quick look at what you’ll need to do:

1. Meet the Eligibility Requirements
2. Apply to the Oregon Real Estate Agency (OREA)
3. Enroll in a 40-hour accredited Brokerage Administration and Sales Supervision (BASS) course
4. Submit Your Fingerprints for a Background Check
5. Schedule and Pass the Principal Broker Licensing Exam
6. Obtain Your Principal Broker License

Let’s walk through each step together and make sure you’re ready for the next exciting chapter of your real estate career.

1. Meet the Eligibility Requirements

Before you begin your journey to becoming a Principal Broker in Oregon, make sure you meet these essential qualifications:

1. Hold an Active Real Estate Broker License in Oregon - You must already be a licensed broker in Oregon.
2. Have at Least Three Years of Active Real Estate Experience - Typically, three years of experience as a licensed broker is required. Verify with the Oregon Real Estate Agency (OREA) for any updates.
3. Be 18 or Older - You must be at least 18 years old to apply.
4. Have a High School Diploma or GED - A high school diploma or GED is required.

Tip: Requirements can change, so always check the OREA website for the latest updates.

2. Apply to the Oregon Real Estate Agency (OREA)

Once you’ve verified that you meet the eligibility requirements, the next step is simple:

1. Log in to your eLicense account on the OREA website using your license number as your user ID—do not create a new account.
2. Complete the Principal Broker Application through your eLicense account.
3. Pay the Application Fee, which typically ranges between $300–$350.
4. Monitor Deadlines and ensure you submit any additional documentation requested by OREA.

When your application is accepted, you'll be ready to start the schooling phase and keep the progress going.

3. Enroll in a 40-hour accredited Principal Broker course

Before you can sit in for Oregon’s Principal Broker exam, you’ll need to complete a 40-hour Brokerage Administration and Sales Supervision (BASS) course—an advanced pre-license program designed to prepare you for managing a brokerage.

Topics include:

• Running a brokerage under a registered business name
• Handling client trust accounts and security deposits
• Delegating authority through written agreements
• Using the Final Agency Acknowledgement form
• Overseeing the closing of real estate transactions

You must attend every session, finish all of the coursework and tests, and pass the final exam whether it is taken in person or online. You will receive your certificate upon completion, and the Oregon Real Estate Agency will receive your credits, paving the road for your Principal Broker exam.

4. Submit Your Fingerprints for a Background Check

After passing your Principal Broker license exam, you’ll need to complete fingerprinting for a mandatory background check. If you’re testing in person, PSI will take your fingerprints right after your exam. If testing online, you may complete fingerprinting either before or after the exam.

• Submission: All fingerprints must be submitted digitally through PSI.
• Processing Time: Oregon State Police currently take 3–4 weeks to process.
• Cost: Fees are paid directly to PSI; check their site for the most current pricing.

Plan ahead if you want to speed up the licensing timeline—especially if you're taking the exam remotely.

5. Schedule and Pass the Principal Broker Licensing Exam

With your background check complete and your coursework reported, you're ready to take the next step: applying for and scheduling your Principal Broker licensing exam. Here’s how to proceed:

How to Apply for the Exam

1. Receive Exam Authorization: After the Oregon Real Estate Agency (OREA) approves your eligibility, you'll receive authorization to schedule your exam.
2. Choose a Testing Provider: In Oregon, exams are administered by a state-approved provider, such as PSI.
3. Register and Pay the Exam Fee: The exam fee typically ranges from $75–$100. You can register and pay online or by phone.
   

Exam Format:

The Principal Broker exam is computer-based and administered at a designated testing center, where you'll answer multiple-choice questions.

Total Questions: 130 questions, split into two parts:

• National Portion: 80 questions
• Oregon-Specific Portion: 50 questions

Time Allotment:

• National Portion: 120 minutes
• Oregon Portion: 75 minutes
• Total Time: 195 minutes

Passing Score:

To pass, you’ll need to score at least 75% on each section.

Once you’ve completed the exam, you’ll typically see your results right away. If you pass, congratulations—you’re one step closer to becoming a Principal Broker in Oregon!

6. Obtain Your Principal Broker License

After passing the exam and clearing your background check, the OREA will review your application and issue your Principal Broker license. You’ll receive an email once it's approved.

License Expiration: Your license will expire based on your birthday month. The first period will be between 13 and 24 months, with subsequent periods lasting 24 months.

Congratulations! You’ve successfully obtained your Principal Broker license, opening the door to new leadership roles and the chance to shape the future of your real estate career.

FAQs about Becoming a Real Estate Principal Broker in Oregon

Below are some of the most common questions about obtaining a Principal Broker license, timelines, and potential career benefits.

Should You Become a Real Estate Principal Broker in Oregon?

If you're already working as a real estate broker and looking for a positive change, earning your Principal Broker license can unlock many new opportunities:

• Increase Your Earning Potential: Principal Brokers often earn a larger share of commissions and may receive a percentage of their agents' transactions.
• Step Into Leadership: Take on a supervisory role, mentor newer brokers, and help shape the direction and culture of your brokerage.
• Gain More Control: Enjoy greater independence in how you run your business, manage clients, and grow your brand.

If you're driven, leadership-minded, and ready to take ownership of your career, this path can be a pivotal next step.

How Fast Can You Get a Principal Broker’s License?

The timeline to become a Principal Broker in Oregon can vary, but many candidates complete the process in as little as 2–3 months.

Your pace depends on a few key factors:

• How quickly you complete the 40-hour BASS course
• Availability of PSI exam appointments
• Fingerprint and background check processing times (currently 3–4 weeks)

Staying on top of your coursework, scheduling promptly, and preparing ahead can help you move through the process efficiently and get licensed without delays.

How Much Do Real Estate Principal Brokers Make?

Principal Brokers in Oregon are instrumental in real estate transactions and the overall operations of their brokerage. By overseeing deals and supervising other agents, they hold a pivotal role that directly influences the profitability of their business. Their compensation is shaped by several factors, including real estate conditions, the size of the brokerage they manage, and their years of experience.

In Oregon, Principal Brokers have the potential to earn substantial incomes, often exceeding $100,000 annually. In thriving markets or when managing a strong team of agents, their earnings can be even higher. The combination of their leadership role, industry expertise, and the demand for real estate services ensures that they can command competitive salaries, making this a rewarding career path for those who are ready to take on the responsibility.

How Much Does a Real Estate Principal Broker’s License Cost?

Anticipated Costs for Obtaining Your Principal Broker License

• OREA Application Fee: $300–$350
• Pre-License Course: $300–$600
• Exam Fee: $75–$100
• Fingerprint/Background Check: $61.25

‍Estimated Total: $700–$1,200

Note: These fees are estimates and may change. Be sure to check with the Oregon Real Estate Agency and your course provider for up-to-date pricing.

What’s the Difference Between Real Estate Principal Brokers and Brokers?

In Oregon, there’s a clear difference between what a Real Estate Broker does and what a Principal Broker is responsible for. A Real Estate Broker is your go-to professional for buying and selling homes. They schedule showings, write offers, and help clients through closing—all under the supervision of a Principal Broker.

A Principal Broker wears more hats. Beyond guiding their team, they ensure all transactions follow Oregon law, manage the office’s financial accounts, and take responsibility for the brokerage’s legal and ethical conduct. Their leadership sets the tone for the entire business.

‍Does Oregon Have a Principal Broker’s License Reciprocity Agreement?

While Oregon doesn’t offer full reciprocity for Principal Broker licenses, out-of-state license holders can apply for an Oregon license by fulfilling certain requirements. This usually involves completing pre-licensing coursework specific to Oregon and passing the state exam. 

Oregon does offer partial reciprocity with a few states, such as Alabama and Georgia, which can help simplify the process, but you’ll still need to meet state-specific criteria. 

Be sure to consult the Oregon Real Estate Agency for the most accurate and current information.

Final Thoughts on Becoming a Real Estate Principal Broker in Oregon

Taking the leap to a Real Estate Principal Broker license can truly transform your career. With higher earning potential and the freedom to run your own brokerage, the possibilities are endless. If you’re ready to put in the work, from completing the required education to preparing for your exam, your success is within reach.

Excited to get started? Our partnered Real Estate Principal Broker program offers all the training and support you need to succeed. Simply hit the “Enroll” button below and take the first step toward becoming an Oregon Principal Broker today!