When you go for the Washington real estate licensing exam, you should bring two forms of ID with your name, signature, and current photograph. Also, the exam's results are only valid for one year. This means that you will have to apply for your broker’s license before they expire. You will be given instructions to retake the exam if you fail. After passing the exam, you will be able to submit your official application.
Pre-licensing education requirements
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 topics such as contracts, finance, real estate principles and other important subjects. Online programs allow students to access the courses in multiple modules that cover a variety of topics. 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 each applicant to pass background checks before they can take the realty exam. To take the exam, candidates must register with the state's licensing testing agency. They must also provide evidence of course completion. They must pass a broker's exam and answer legal background questions. The applicant must also submit their fingerprints every six months for a background screening. This information will also be available for applicants who have previously completed pre-licensing training in another state.
Exam content
The WA Real Estate License Exam consists of two sections: one national, and one state-specific. Questions from both sections are interspersed. Between five and ten questions are considered experimental. These questions will not be scored. Both sections are multiple-choice and take 3.5 hours. To pass, a scaled score of 70 is needed. The test content is generally comprehensive and covers all aspects state's real property laws, contracts, as well as procedures.
The pre-licensing course covers many the same topics as that of the exam. Understanding the basics of realty math and the formulas that can be used to solve common realty calculations is essential. It is important to practice the test frequently as subjects are constantly changing. To ensure that you are familiar with the test format and to identify any weak areas, practice tests may be useful. A few math formulas and facts from your pre-licensing course should be memorized.
Cost
The cost of wa real estate licensing varies from state to state, and varies with the type of business you run. A broker license costs more than a salesperson, which requires additional schooling. Although licensing real estate can be expensive, starting from scratch can save you money. You can create a business plan and identify your target clients to reduce the cost. There are many marketing tools available to you, such as digital ads, print ads, and social-media campaigns.
The cost of prelicensing coursework varies depending on the place you choose. It can cost from $260 up to $500. Once you've completed the required course you must pass the state licensing exam. MLS membership costs an additional $50-$60. 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. A separate fee will be required to become a National Association of Realtors member.
Online options
Choosing an online school for your Washington real estate licensing requirements can be an advantageous decision. Online schools can be more convenient than classroom-based schools. They allow you to work at your own pace while you study and provide the information that you need. 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 packages. Depending on your needs, you can choose between the Value and Premium packages. These packages offer three online courses with a total of nine credit hours. Both packages allow for flexibility in how you work and can be resumed from where you left off. Kaplan's courses feature seasoned real-estate professionals who provide current and pertinent information.
FAQ
Do I need a mortgage broker?
If you are looking for a competitive rate, consider using a mortgage broker. Brokers are able to work with multiple lenders and help you negotiate the best rate. However, some brokers take a commission from the lenders. Before signing up for any broker, it is important to verify the fees.
How can I determine if my home is worth it?
If your asking price is too low, it may be because you aren't pricing your home correctly. You may not get enough interest in the home if your asking price is lower than the market value. Get our free Home Value Report and learn more about the market.
Should I rent or purchase a condo?
Renting could be a good choice if you intend to rent your condo for a shorter period. Renting can help you avoid monthly maintenance fees. However, purchasing a condo grants you ownership rights to the unit. The space is yours to use as you please.
How can I get rid Termites & Other Pests?
Your home will be destroyed by termites and other pests over time. They can cause damage to wooden structures such as furniture and decks. You can prevent this by hiring a professional pest control company that will inspect your home on a regular basis.
Is it possible sell a house quickly?
It may be possible to quickly sell your house if you are moving out of your current home in the next few months. There are some things to remember before you do this. First, you will need to find a buyer. Second, you will need to negotiate a deal. Second, you need to prepare your house for sale. Third, your property must be advertised. 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)
- 10 years ago, homeownership was nearly 70%. (fortunebuilders.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)
- 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)
- Over the past year, mortgage rates have hovered between 3.9 and 4.5 percent—a less significant increase. (fortunebuilders.com)
External Links
How To
How to become a real estate broker
Attending an introductory course is the first step to becoming a real-estate agent.
Next, you will need to pass a qualifying exam which tests your knowledge about the subject. This involves studying for at least 2 hours per day over a period of 3 months.
Once this is complete, you are ready to take the final exam. In order to become a real estate agent, your score must be at least 80%.
All these exams must be passed before you can become a licensed real estate agent.