What must a person do to obtain a South Dakota reciprocal real estate license?

To obtain a South Dakota reciprocal real estate license, an individual must be licensed under a South Dakota broker. Reciprocity agreements allow real estate professionals who are already licensed in other states to obtain a license in South Dakota without having to take the full licensing exam. Instead, they must establish a working relationship with a licensed South Dakota broker, who will sponsor them and allow them to operate under their brokerage. This arrangement supports the state's goal of maintaining standards while acknowledging the qualifications and experience that agents have gained in other jurisdictions.

The other options presented do not accurately reflect the requirements for obtaining a reciprocal license in South Dakota. For example, while passing an exam may be necessary for new applicants from other states, those with a reciprocal license do not need to take a state-wide exam if they are already licensed in a comparable state. Similarly, completing a training program and submitting a financial statement are not requirements specified for obtaining a reciprocal license in this context. The key factor here is the association with a local broker, which enables the new licensee to practice effectively within the state’s established regulatory framework.