If you’re a real estate professional, you probably know all about the importance of realtors license. You may even have read your state’s licensing requirements and taken some practice tests. But if this is your first time going through the process, here are some basics about what to expect:
What is the Real Estate Licensing Exam?
- 1 What is the Real Estate Licensing Exam?
- 2 How many questions are on the exam?
- 3 What is the passing score for the exam?
- 4 How long does it take to get my license?
- 5 The licensing process for real estate professionals can be complicated.
- 6 Why do you need a license?
- 7 How to get your real estate license
- 8 How much does it cost?
- 9 Take the test.
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The Real Estate Licensing Exam is a multiple choice test that covers real estate law, real estate finance and real estate practice. The State of California administers the exam, which is offered in English and Spanish at all testing centers throughout California. It can also be taken online at www.ceres-testing.com/.
How many questions are on the exam?
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The exam is 75 questions long and has a time limit of 90 minutes. It’s administered by state agencies, so you’ll have to contact your state licensing board to find out when it’s offered in your area and where you should go to take it.
The exam is multiple choice with five answer choices per question (except for some math and reading comprehension questions). You must select one correct answer for each question in order to pass; there are no partial points awarded if you choose an incorrect response but still get other answers right.
What is the passing score for the exam?
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The passing score for the Real Estate Broker Exam is 70%. You can take the exam four times in a 12-month period and must wait at least 14 days between attempts. The exam is offered in English or Spanish, and you may take it at any Pearson Vue Testing Center.
How long does it take to get my license?
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There are a number of factors that determine how long it takes to get your real estate license. It depends on the state you’re applying in, as well as what kind of realtors license you’re applying for. In some states, a minimum number of hours must be completed before applying for an examination (this can range from 30 hours up to 500). If you fail the exam once or twice (which happens often), then there may be some time restrictions on when you can reapply again–usually 24 months or more after failing the first time around.
The licensing process for real estate professionals can be complicated.
The licensing process for real estate professionals can be complicated. It varies from state to state, and it changes over time as new laws are passed. For example, in some states you may have to take an exam to prove that you know the law; in others, your license is automatically granted after passing a test on ethics or professional conduct.
The cost of getting licensed also varies widely depending on where you live–and even what type of license (real estate agent vs broker) you’re applying for!
Why do you need a license?
The first and most important reason is to protect consumers. The Texas Real Estate Commission (TREC) wants to ensure that all of its licensees are qualified, competent and ethical. This means that you must pass an exam that measures your knowledge of real estate laws and practices before being allowed access to the property database.
The second reason is to protect the public by ensuring only qualified salespersons represent them in transactions involving real estate property. A realtors license helps ensure this by requiring applicants take an examination demonstrating their knowledge base before they can be issued a certificate of registration with TREC
How to get your real estate license
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You can start by taking the real estate exam. Once you’ve passed, you’ll need to apply for your realtors license with your state’s licensing agency. The exact process will vary slightly depending on which state you live in, but here are some general steps that most states follow:
- Take an approved course on real estate law and ethics (usually consisting of 12-24 hours).
- Pay an application fee and provide proof of identity (such as a copy of your driver’s license).
- Get fingerprinted by law enforcement officials or other authorized agencies in order to conduct background checks on applicants who have criminal convictions or owe money from previous lawsuits involving fraud or dishonesty; this step is required only in certain states like California and Texas .
How much does it cost?
The cost of the exam is $250 and you must take it within one year of applying. The application fee is $100 and you will be required to submit a license application, proof of education and training, proof of at least 3 years experience in real estate sales/brokerage or appraisal services (or any combination thereof), reference letters from two individuals who can attest to your professional character and integrity, passport size photo(s), proof of identification (see below), social security number verification form (see below). The background check costs $50 per person being investigated; note that there are additional fees for fingerprints if needed for those under age 18 at time request was made
Take the test.
If you’re ready to take the test, find out the requirements and how to study. Then go celebrate with a drink afterwards!
So, you’re ready to take the exam? We wish you luck on your journey and hope that this guide has helped answer any questions you may have had about the process. If not, don’t worry! We have plenty of resources available at ExamGuide.com including practice tests and study guides for both real estate agents and brokers alike. Good luck!