Congratulations on your decision to become a real estate agent! You’ve taken the first step in getting licensed, but you’re probably wondering what’s next. The good news is that you can get your real estate license by exam. The bad news is that it’s not cheap. However, there are ways to make licensing more affordable. In this article we’ll go over everything you need to know about exam preparation and cost so that you can be ready when it comes time to take the test!
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Real Estate License Exam
- 1 Real Estate License Exam
- 2 How to study for the real estate license exam
- 3 How long does it take to get a real estate license
- 4 Are there any waivers if I don’t pass the real estate license exam?
- 5 What are the costs of studying for, taking and passing the real estate license exam?
- 6 Get your real estate license without all the high costs
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The real estate license exam is a uniform test that is given in every state. The test consists of 200 multiple choice questions and must be completed within four hours.
The exam covers all topics required by the National Association of Realtors (NAR), including:
- Principles of real estate practice;
- Federal/state laws governing real estate transactions;
- Ethics, business practices and procedures related to investment properties;
- Fair housing laws;
- Mortgage lending principles and regulations affecting residential mortgages
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How to study for the real estate license exam
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To be prepared for the real estate license exam, you should study for at least four months. The best way to learn information for the exam is by reading it in a textbook and taking notes on what you read. You can also use flashcards and quizzes to help you memorize key terms and concepts.
The following are some great books that cover all of the material required by your state’s real estate licensing board:
How long does it take to get a real estate license
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There is no specific time frame for how long it will take to get a real estate license. This is because every state has its own process, and the length of time varies depending on where you live. It also depends on what type of license you want to obtain and how much time you want to spend studying for it.
In most states, there are two main types of licenses: Salesperson and Broker (Real Estate). The requirements vary between these two types, so make sure that if you choose one over another, it’s what makes sense for your career goals and lifestyle–and keep in mind that some states require both!
Are there any waivers if I don’t pass the real estate license exam?
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There are a few ways to get a waiver if you don’t pass the real estate license exam. If you are over the age of 65, you may apply for an age exemption. You can also apply for this if you have a physical or mental disability that prevents you from meeting the requirements of obtaining your license.
If you have served in the military and meet certain criteria, such as having been discharged under honorable conditions and having at least 20 years’ service creditable toward your retirement annuity, then it may be possible for your military experience to count towards fulfilling some of these education requirements.
Finally, if you already hold an active real estate license from another state (and meet any other applicable requirements), then this would qualify as one way to obtain a waiver without having taken any additional education courses at all!
What are the costs of studying for, taking and passing the real estate license exam?
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You’ll need to pay for the exam, estimated at $200. You can find out more about the cost of taking an exam at www.nmlsc.org/courses/#course_costs
The cost of your education course depends on where you take it and if it includes materials or not (some schools offer self-study courses). The average cost is between $1,000-$2,000 depending on these factors. You can find out more about real estate education costs here: http://www.nmlsc.org/education-and-training/real-estate-schools#costs
Get your real estate license without all the high costs
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The real estate license exam is a required part of the licensing process. If you want to get your real estate license, then you need to take the exam. But did you know that there are ways to save money on this important step?
The first way is by taking advantage of free online courses and study materials provided by state licensing boards as well as national organizations like NAREB (National Association of Realtors). These resources can help prepare new agents for their upcoming test, which will make them more successful once they start working in this field.
Another option is through military benefits programs such as Military OneSource or VA educational benefits programs (if applicable). These programs provide free access to many different types of training courses including those related specifically towards preparing for an upcoming real estate license examination so check them out today!
We hope that this post has given you all the information you need to study for, take and pass your real estate license exam. We know it can be stressful but with our tips and tricks we’re sure you’ll do great!
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