Here is everything you want to learn about the real estate license.
General Requirements to be Eligible to Apply for the Real Estate License
There are certain general qualifications that must be fulfilled by the candidate that makes him/ her eligible to apply to become a real estate license holder.
1.Age: The candidate must be at least 18 years old. In certain places, the minimum age is 19 years old.
2.Character Certification: Like any other profession, honesty and being truthful to the estate are two of the most important requirements. Same in this case, as the candidate, must be high in character. If the candidate is found to be guilty of any criminal charges against him/ her that it may result in the disqualification of denial in the issuance of the real estate license. In addition to that, if the candidate deliberately hides out such criminal charges or disciplinary actions from the past, and failed to show entire history, then there are chances that application for the license may be denied by the authorities.
3.Residence: Specifically for the US citizens, the candidates must show legal documentation of their US residency.
4.Pre-license Education: The must have completed the pre-license education. Depending upon the state you are applying from, the number of credit hours necessary to apply varies.
What is Pre-Licensing Education?
To get ready for the real estate licensing exam, the candidate is required to take real estate pre-licensing education. Bur, if you have passed state law bar’s exam, then these Pre-Licensing courses are not necessary.
Topics of these courses vary from state to state, and the credit hours required for the successful completion of these courses are 60 to 90 hours. A variety of topics are included in these courses, all teaching the practical knowledge of the subject. For example, legal issues about the property ownership, housing laws, fiduciary responsibilities, contracts, and much more. You’ll learn the details in next section.
General Requirements for the Course
Generally, the candidate is required to complete three courses successfully to be able to eligible to apply for the real estate license examination. Two of these courses are compulsory, and for the third course, you can choose from various courses,
1.Real Estate Principles
2.Real Estate Practice
3.For the third one, following are the choices,
- Property Management
- Real Estate Appraisal
- Real Estate Finance
- Legal Aspects of Real Estate
- Real Estate Economics
- General Accounting
- Real Estate Office Administration
- Common Interest Development
- Mortgage Loan Brokering and Lending
- Business Law
- Computer Applications in Real Estate
Where to Take these Courses From?
There are specialist real estate courses at Property Training Australia that can fit you with you everything you need to learn to become a real estate agent. The interested candidate can register online, or can participate in the live online class settings. There are numerous accredited institutions, public universities, and schools. In addition to that, these courses can be learned from private real estate schools. Whichever mode of learning you may choose, the educating institute must be listed and approved by the authority. To make sure that your chosen school is approved, call your state’s own licensing division.
Cost of Pre-Licensing Courses
The cost of anything you are getting in is one of the most important matter. Here, the cost of pre-licensing education varies from place to place. So, depending upon the state you are living in, and the institute you chose to go to, the fee structure of the course will fluctuate. Roughly speaking, the cost for 10 sessions of the courses, the fees will vary from $370 to $500, and the duration of the course varies too. But, it’ll be very wise to first consult the specific department, and institution to be sure about the cost, and duration of the complete course. Another important thing to remember is that the candidates must attend all the classes, and pass in all the subjects in order to be eligible to take the real estate examination. This pre-licensing final exam will be a short form of the actual real estate licensing exam. So, be sure to be vigilant about the causes, format of the examination paper, and duration of the exam. This will assist you in the final and the most important step of you becoming the real estate license holder.
Real Estate License Examination
After successful completion of the pre-licensing examination, the candidate will register himself/ herself for the real estate examination in a specified time frame. This time frame varies from state to state. In order to get your license without any obstacle, and in a timely manner, following of this schedule is extremely necessary. You can get plenty of information in this regard from your state’s licensing division.
The duration of this exam is approximately 2.5 hours, and the candidate needs to get 75% marks to get passed. The question will roam around the same topics, as the candidate must have learned in the pre-license education. Similarly, the format of the test is also like the pre-licensing examination. The exam is not that difficult to pass. The candidate must have to be well prepared, focused in classrooms, and have a grasp of general information about the business.
Perks of Being a Real estate License Holder
There are a lot of benefits and advantages of being a real estate license holder. Becoming a real estate agent is just like starting up a small business. You have to build a client profile, project your highlights, and specificities. Then advertise this to the public. The basic thing is to build a good public image. There are a lot of benefits and advantages of being a real estate license holder. For example,
1.You can earn commission by becoming a property manager. Being a property manager, you can buy and invest in your own property, while simultaneously managing others’ properties.
2.Retail sales agents are the most common in town who earn money by selling homes from one party to another.
The options are endless, so are the money-making opportunities.