The WV Real Estate Commission updated their fees!
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You might find it hard to get excited over fees placed by the WV Real Estate Commission so I’ll keep my excitement level to the least annoying level here. There is a need to point out the changes though. PSI might test on them on the state specific portion of the exam. Which could mean you passing or failing your WV real estate license exam. We can apply it to real life too! If you already passed your WV real estate license exam, well, there are fees to be paid annually. Remember the fiscal year stuff? Yep. See?
Ok, so here’s the scoop.
The fee’s I feel are the most important to a future WV Real Estate Licensee are…
- The State Application Fee is $25(INCLUDE this with the salesperson application. Make the check payable to the West Virginia Real Estate Commission.)
- The EXAM FEE can vary. PSI is currently charging $96 but that CAN change at any time as they’re a third party and can decide their fee at any time. Law DOES regulate that they can NOT charge over $150. This money does NOT go to the WVREC. It is paid to the test provider.
- To activate your license is going to cost $75 and is due to the WVREC AFTER passing the state exam to activate your real estate license
- The salesperson renewal license fee is $75 and is due to the WVREC every fiscal year. If you need help understanding what a fiscal year is I published a video on it that can be found here https://sprucerealestateschool.com/blog/wv-real-estate-license-continuing-ed-when-its-needed/ !
Now the larger list if you’re curious of specific changes that the WV Real Estate Commission has implemented
- The Salespersons Application Fee will stay the same at $25
- The Exam Fee will stay the same at “up to $150”. It’s worth note that PSI currently charges $96 so pay attention that this amount reads “up to” and that NONE of this amount goes to the West Virginia Real Estate Commission.
- The initial Broker and Associate Broker License Fee remains at $150
- The initial Salesperson License Fee remains at $75
- The Branch Office fee will remain at $150
- All license renewal fees are the same.
- Changing your employing broker HAS INCREASED to $20 from $10
- Getting a duplicate license is the same amount of $10
- Certificate of Licensure has increased to $20 from $10
- Change of personal info has increased to $20 from $10
- Change of office address has increased to $20 from $10
- Change of Company Name has increased to $20 from $10
- Late Renewal Fees have increased in a variety of ways July – September is now a $50 late fee rather than $10. September – December is now $75 rather than $50 and January – June 15th is the same at $100. After that you lose your license, kids!
The other fees implemented by the WV Real Estate Commission are primarily for educators so for the sake of keeping it real, I’m gonna leave those fees out as most of you are simply concerned about your own individual real estate license.
If you would like to see ALL of the fees directly at the West Virginia Real Estate Commissions site you can find that here https://rec.wv.gov/License-Info/Pages/Fee-Schedule.aspx
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