You will need to take two courses in real estate in order to become a licensed Arizona real estate agent. The first one, a 90-hour course, covers the basics of real estate law and general practices, as well as Arizona-specific laws. A six-hour course on contract writing principles will be required. Although you will be required to take both courses, passing the first one is not enough to pass the real estate exam. Students often have difficulty understanding the math principles during the 90-hour course. It's therefore imperative to spend time studying the material, so that you feel confident in your ability to pass the exam.
Pre-licensing education
Getting your Arizona real estate license requires 90 hours of pre-licensing education. This course includes lessons on real estate law and ethics. It is divided into 45 2-hour segments and requires a final exam that is proctored. The test must be passed with a minimum score of seventy five percent. The test takes place at a realty school or testing center. There you must make travel arrangements. A certificate of completion is awarded to those who successfully complete the course.
There are many online classes to choose from. PrepAgent is a popular option for Arizona pre-licensing. It includes a series e-books as well audio lessons and videos, practice tests, and video presentations. PrepAgent offers a 20% discount to Fit Small Business readers. You can either find a course at an accredited school or enroll online.
Exam
To become a licensed Arizona real estate agent, you will need to pass the state licensing exam. There are 150 multiple-choice questions. It should take at least three hours to complete. Afterwards, you must apply for your license and submit required documents to the ADRE. After passing the exam, the state requires you to obtain a fingerprint clearance card at the Arizona Department of Public Safety within one year.
There are many methods to prepare for the Arizona real-estate license exam. Pearson VUE is the official administrator of this exam. It is a great idea to take practice exams to determine which areas you should focus on. A practice test can be taken to get familiar with test questions. Many online video preparation courses can be helpful. This is the best way to study for the exam. Be sure to select a test prep class that covers the material you will need for the exam.
Fees
The Arizona Real Estate Commission requires that you have 24 hours of renewal credits. These must include 18 credit hours in six classes. You can take the remaining 24 hours in any class provided it has been approved by Arizona Real Estate Commission. You cannot duplicate the course number and type. Renewal is permitted 90 days prior to license expiration. It costs $50 to renew a license, and can be completed by completing all requirements.
Additional to the license fee you will need to pay membership dues to your state and local real property boards. Although these associations may be eligible for a tax deduction, they can also be expensive for many Realtors. It depends on the number of associations you belong too - it could be costly to join more than one. Arizona allows you to belong to multiple associations.
Evidence of residence
To apply for an Arizona real property license, applicants must provide proof of residency. This is typically immigration paperwork, a copy of a social security card, or proof of education. This step can be skipped by applicants from out of state, but they still must provide proof to support their claim and a fingerprint card. Fingerprint clearance cards can take eight to 10 weeks to receive, so applicants should allow ample time to complete this step.
A 96-hour course is required to earn an Arizona real estate license. It covers all aspects of Arizona's real property laws, policies, procedures, and policies. The course can be taken online, or in a class. The course may take one to three month. You must complete the course within one year to be eligible to apply for real estate sales. You must apply if you are 18 years or older. You may not be eligible to apply for a license in Arizona if you are a minor.
FAQ
What is the average time it takes to sell my house?
It depends on many different factors, including the condition of your home, the number of similar homes currently listed for sale, the overall demand for homes in your area, the local housing market conditions, etc. It may take 7 days to 90 or more depending on these factors.
What flood insurance do I need?
Flood Insurance protects against damage caused by flooding. Flood insurance protects your belongings and helps you to pay your mortgage. Find out more information on flood insurance.
What is a Reverse Mortgage?
A reverse mortgage allows you to borrow money from your house without having to sell any of the equity. This reverse mortgage allows you to take out funds from your home's equity and still live there. There are two types: conventional and government-insured (FHA). A conventional reverse mortgage requires that you repay the entire amount borrowed, plus an origination fee. FHA insurance will cover the repayment.
Should I rent or purchase a condo?
Renting may be a better option if you only plan to stay in your condo a few months. Renting lets you save on maintenance fees as well as other monthly fees. The condo you buy gives you the right to use the unit. The space can be used as you wish.
Can I buy a house without having a down payment?
Yes! There are programs available that allow people who don't have large amounts of cash to purchase a home. These programs include government-backed loans (FHA), VA loans, USDA loans, and conventional mortgages. For more information, visit our website.
How can I get rid of termites & other pests?
Your home will eventually be destroyed by termites or other pests. They can cause serious destruction to wooden structures like decks and furniture. To prevent this from happening, make sure to hire a professional pest control company to inspect your home regularly.
Statistics
- Over the past year, mortgage rates have hovered between 3.9 and 4.5 percent—a less significant increase. (fortunebuilders.com)
- It's possible to get approved for an FHA loan with a credit score as low as 580 and a down payment of 3.5% or a credit score as low as 500 and a 10% down payment.5 Specialty mortgage loans are loans that don't fit into the conventional or FHA loan categories. (investopedia.com)
- Based on your credit scores and other financial details, your lender offers you a 3.5% interest rate on loan. (investopedia.com)
- Private mortgage insurance may be required for conventional loans when the borrower puts less than 20% down.4 FHA loans are mortgage loans issued by private lenders and backed by the federal government. (investopedia.com)
- Some experts hypothesize that rates will hit five percent by the second half of 2018, but there has been no official confirmation one way or the other. (fortunebuilders.com)
External Links
How To
How do I find an apartment?
When moving to a new area, the first step is finding an apartment. This involves planning and research. It includes finding the right neighborhood, researching neighborhoods, reading reviews, and making phone calls. Although there are many ways to do it, some are easier than others. Before renting an apartment, it is important to consider the following.
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You can gather data offline as well as online to research your neighborhood. Websites such as Yelp. Zillow. Trulia.com and Realtor.com are some examples of online resources. Offline sources include local newspapers, real estate agents, landlords, friends, neighbors, and social media.
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Find out what other people think about the area. Review sites like Yelp, TripAdvisor, and Amazon have detailed reviews of apartments and houses. You might also be able to read local newspaper articles or visit your local library.
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Make phone calls to get additional information about the area and talk to people who have lived there. Ask them what they liked and didn't like about the place. Ask if they have any suggestions for great places to live.
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Check out the rent prices for the areas that interest you. Renting somewhere less expensive is a good option if you expect to spend most of your money eating out. If you are looking to spend a lot on entertainment, then consider moving to a more expensive area.
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Find out information about the apartment block you would like to move into. What size is it? What's the price? Is it pet-friendly? What amenities does it offer? Can you park near it or do you need to have parking? Are there any special rules for tenants?