When you go for the Washington real estate licensing exam, you should bring two forms of ID with your name, signature, and current photograph. Remember that the results of this exam are only valid for a year. So you must apply to get your broker's license. If you fail the exam, you will be given instructions on how to retake it within six months. Once you have passed, you can submit your formal application.
Pre-licensing education
The state of Washington requires that all aspiring real estate agents complete at least 90 hours of pre-licensing education prior to taking their exam. This 90-hour course covers finance, contract principles, real estate principles, and much more. These courses can be divided into modules and each module covers a different topic. They are offered through online programs. Students will receive study guides and optional exams that will help them prepare for the real estate exam.
Washington State Department of Licensing and Regulation requires that all applicants pass a background check before they can take the real estate exam. Candidates must register at the state's licensing agency to be eligible for the exam. They must also prove that they have completed the course. They must pass a broker’s exam and answer questions about legal background. A background check must be conducted every six years. This information is available to applicants who have received pre-licensing education from another state.
Exam content
The WA Real Estate License Exam consists of two sections: one national, and one state-specific. The questions on each portion are interspersed. About five to ten questions will be considered experimental and not scored. Each portion has multiple-choice questions. The test taker has 3.5 hours for each part. A scaled score of 70 or more is required to pass the test. The test content covers all aspects of state real estate laws, contracts and procedures.
A pre-licensing course covers many of the same topics as the exam. The basics of real estate math are required. Practice tests are a great way to improve your score. You may also want to take practice tests to ensure you understand the format and make note of your weak areas. Remember to memorize the facts and formulas you learned in your prelicensing course.
Cost
The cost for real estate licensing in each state varies, as does the type and size of your business. A salesperson license can be more expensive than a brokerage license. The latter requires additional schooling, and the payment of state licensing fees. Real estate licensing costs can be more expensive if you start from scratch. However, you can reduce these costs by creating your business plan and identifying potential clients. There are many marketing tools available to you, such as digital ads, print ads, and social-media campaigns.
The cost of pre-licensing coursework will range from $260 to $500, depending on where you choose to take it. Once you've completed the required course you must pass the state licensing exam. Additional $50-60 is required to become a member of the MLS. The fees for MLS membership vary from one region to the next. You'll need to verify your local fees to find out the exact cost. In addition, you will likely need to pay a small fee to become a member of the National Association of Realtors, which requires a separate fee.
Online options
A good decision is to make an online school your Washington license. Online schools are more flexible than traditional schools. You can work at your own pace and access the information you need. This will allow you to complete your education in as little as possible. Additionally, instructors will provide tutor support and exam prep assistance. Exam Preparation Plus can be purchased to upgrade your course. It includes a real-estate dictionary, live examcramer series, and Q&A sessions with instructors.
Kaplan offers five WA-pre-licensing programs. Depending on your needs, you can choose between the Value and Premium packages. These packages include three online courses that require fewer than nine credit hours each. Both packages allow for flexibility in how you work and can be resumed from where you left off. Kaplan's courses were developed by experienced real estate professionals, who cover relevant and current topics.
FAQ
What should I look out for in a mortgage broker
A mortgage broker helps people who don't qualify for traditional mortgages. They look through different lenders to find the best deal. There are some brokers that charge a fee to provide this service. Other brokers offer no-cost services.
How long does it take for a mortgage to be approved?
It depends on several factors including credit score, income and type of loan. It usually takes between 30 and 60 days to get approved for a mortgage.
Do I need to rent or buy a condo?
Renting is a great option if you are only planning to live in your condo for a short time. Renting can help you avoid monthly maintenance fees. On the other hand, buying a condo gives you ownership rights to the unit. The space can be used as you wish.
Is it possible to sell a house fast?
If you have plans to move quickly, it might be possible for your house to be sold quickly. Before you sell your house, however, there are a few things that you should remember. First, you need to find a buyer and negotiate a contract. Second, prepare the house for sale. Third, it is important to market your property. You should also be open to accepting offers.
Statistics
- This means that all of your housing-related expenses each month do not exceed 43% of your monthly income. (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)
- This seems to be a more popular trend as the U.S. Census Bureau reports the homeownership rate was around 65% last year. (fortunebuilders.com)
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How To
How to become an agent in real estate
Attending an introductory course is the first step to becoming a real-estate agent.
The next step is to pass a qualifying examination that tests your knowledge. This requires that you study for at most 2 hours per days over 3 months.
You are now ready to take your final exam. In order to become a real estate agent, your score must be at least 80%.
These exams are passed and you can now work as an agent in real estate.