What’s the difference between a sole practitioner broker license and a principal broker license?
Both licenses require three years of licensed sales experience. However, a licensed sole practitioner broker cannot manage other real estate professionals (neither brokers nor personal assistants). A principal broker can manage the work of others, after completing an additional 40-hour course, “Brokerage Administration and Sales Supervision” (BASS). NOTE: As of January 1, 2010, the category of "sole practitioner" will be eliminated. All current sole practitioner will become principal brokers with no additional requirements or fees.

Who needs to take the state exam?
Oregon principal broker license applicants licensed before July 1, 2002 must pass a computerized exam administered by PSI, a national testing firm with exam sites in Portland, Wilsonville, Bend, Eugene, Medford, and Baker City.

What topics will be covered in the Oregon principal broker state exam?
The principal broker state exam contains exactly the same questions included on the Oregon prelicense broker exam. Topics include: Oregon real estate laws and rules, practice, finance, agency, contracts, property management, and brokerage. Surprisingly, the topics covered in the BASS course are not covered on the principal broker exam.

Can I take an exam-prep course?
Certainly, it’s a great idea to help you pass the state exam. ProSchools offers a great exam-prep course that includes a live review seminar led by industry expert instructor, Paul Gold. You’ll also receive a databank of online questions taken directly from the actual state exam. If you plan to supervise other brokers or personal assistants, you will need to complete the 40-hour Brokerage Administration and Sales Supervision (BASS) course, in addition to passing the state exam.

Should I get any additional books on the subject?
Sure, reading as much as you can about succeeding as a principal broker is a wise strategy. ProSchools offers an array of books in our online bookstore.