When you go for the Washington real estate licensing exam, you should bring two forms of ID with your name, signature, and current photograph. It is important to know that the exam results are valid for a year. Therefore, you need to apply for your broker license before they expire. You will receive instructions for how to take the exam again if you fail it. Once you have passed, you can submit your formal application.
Pre-licensing education requirements
Washington law requires that real estate agents who wish to become licensed must complete at least 90 hours in pre-licensing education before they can take their exam. This 90-hour course includes courses in real estate contracts, principles, finance, and many other topics. The online courses provide access to multiple modules which cover different 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 every applicant to pass a background screening before they are allowed to take the real estate exam. The state licensing testing agency must be registered before the candidates can take the exam. They will also need to provide proof of course completion. They must pass a broker’s exam and answer questions about legal background. The applicant must also submit their fingerprints every six months for a background screening. Applicants who have completed pre-licensing education in another state will be able to use this information.
Exam content
The WA Real Estate License Exam consists of two sections: one national, and one state-specific. Questions from both sections are interspersed. Five to ten questions from each section will be considered experimental. They are not scored. Both portions have multiple-choice questions, and the test taker has 3.5 hours to finish both parts. Passing the exam requires a score of 70. In general, the test content is comprehensive, covering all aspects of the state's real estate laws, contracts, and procedures.
The pre-licensing course covers many the same topics as that of the exam. It is important to understand the fundamentals of real estate math as well as the formulas used for solving common real-estate calculations. You can improve your score by taking practice tests. You may also want to take practice tests to ensure you understand the format and make note of your weak areas. It is important to remember some math formulas and facts you have learned in your prelicensing class.
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. The cost of real estate licensing may be more costly if you're starting from scratch. But, it is possible to cut costs by creating a business plan, identifying your clients, and creating a business plan. You have many marketing options, including print ads, digital ads and social media campaigns.
Pre-licensing coursework can cost anywhere from $260 to $500 depending on where you take it. After you have successfully completed the course, you will need to pass the state licensing exam. Additional fees of $50-60 are required for MLS membership. The cost of MLS membership varies from region to region. It is best to consult your local fees to see the exact cost. To become a member of National Association of Realtors, you will need to pay an additional fee.
Online options
It can be a good idea to choose an online school to fulfill your Washington real estate licensing requirements. Online schools offer a way to study at your own pace, and you can access all the information you need in a fraction of the time it takes for classroom-based schools. Online classes offer valuable exam preparation services and tutor support. 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 prelicensing options. You have two options: the Premium or Value package. These packages include three online courses that each require less than nine credits. 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
Should I rent or purchase a condo?
If you plan to stay in your condo for only a short period of time, renting might be a good option. Renting allows you to avoid paying maintenance fees and other monthly charges. However, purchasing a condo grants you ownership rights to the unit. The space can be used as you wish.
What is the average time it takes to sell my house?
It all depends on several factors such as the condition of your house, the number and availability of comparable homes for sale in your area, the demand for your type of home, local housing market conditions, and so forth. It can take from 7 days up to 90 days depending on these variables.
What are the three most important factors when buying a house?
The three main factors in any home purchase are location, price, size. Location refers the area you desire to live. The price refers to the amount you are willing to pay for the property. Size refers to how much space you need.
How much should I save before I buy a home?
It depends on how long you plan to live there. You should start saving now if you plan to stay at least five years. But, if your goal is to move within the next two-years, you don’t have to be too concerned.
What's the time frame to get a loan 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.
What can I do to fix my roof?
Roofs can become leaky due to wear and tear, weather conditions, or improper maintenance. For minor repairs and replacements, roofing contractors are available. Get in touch with us to learn more.
Is it better for me to rent or buy?
Renting is often cheaper than buying property. However, you should understand that rent is more affordable than buying a house. The benefits of buying a house are not only obvious but also numerous. You will have greater control of your living arrangements.
Statistics
- 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)
- 10 years ago, homeownership was nearly 70%. (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)
- 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)
- 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 locate an apartment
When you move to a city, finding an apartment is the first thing that you should do. This involves planning and research. It includes finding the right neighborhood, researching neighborhoods, reading reviews, and making phone calls. You have many options. Some are more difficult than others. Before renting an apartment, it is important to consider the following.
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Data can be collected offline or online for research into neighborhoods. Online resources include websites such as Yelp, Zillow, Trulia, Realtor.com, etc. Local newspapers, landlords or friends of neighbors are some other offline sources.
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You can read reviews about the neighborhood you'd like to live. Review sites like Yelp, TripAdvisor, and Amazon have detailed reviews of apartments and houses. You may also read local newspaper articles and check out your local library.
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You can make phone calls to obtain more information and speak to residents who have lived there. Ask them what the best and worst things about the area. Ask them if they have any recommendations on good places to live.
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Check out the rent prices for the areas that interest you. You might consider renting somewhere more affordable if you anticipate spending most of your money on food. 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. For example, how big is it? What is the cost of it? Is it pet-friendly What amenities is it equipped with? Are you able to park in the vicinity? Do you have any special rules applicable to tenants?