You will need to take two courses in real estate in order to become a licensed Arizona real estate agent. The first, a 90 hour course, covers real estate law basics and general practices. It also includes Arizona-specific laws. Additionally, you will need a six-hour class on contract writing principles. Although you will be required to take both courses, passing the first one is not enough to pass the real estate exam. Many students struggle with math concepts in the 90-hour course. You should spend enough time studying the material to feel confident that you will pass the exam.
Pre-licensing Education
You will need to complete 90 hours of education before you can get your Arizona real-estate license. This course includes lessons in real estate law as well as ethics. It is divided into 45 2-hour sessions and requires a proctored exam. Passing the exam with a score of 75% or more is required. The test is held at a real estate school or a testing center where you are required to make travel arrangements. After passing the course you will be given a certificate of completion.
There are many online programs to choose. Pre-licensing education is easy with the PrepAgent course. The course includes audio lessons, practice tests and videos. PrepAgent offers a 20% discount for Fit Small Business subscribers. You can also find a course at a traditional school or take a course online.
Exam
The state real-estate license exam is required to become licensed in Arizona. There are 150 multiple-choice questions. The entire process takes at most three hours. You will then need to apply and provide the required documentation to the ADRE for your license. 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 ways you can prepare for the Arizona realty license exam. Pearson VUE is the official administrator of this exam. You can take practice tests to help you identify the areas that need your attention. You can also take a practice test to familiarize yourself with test questions. You can prepare for the exam by taking online video courses. This is the best method to prepare for the exam. You should make sure you select a test prep course that covers the material you will be tested on.
Fees
To renew an Arizona real estate license, you will need 24 hours of renewal credit. This must include 18 hours in six required classes. As long as the Arizona Real Estate Commission approves, the 24 remaining hours can be taken in another class. The course number, type, and duration cannot be duplicated. Renewal is permitted 90 days prior to license expiration. You can renew your license for $50 by fulfilling all requirements.
In addition to the license fee, you must pay membership dues to the state and local real estate boards. These associations are likely to qualify for a tax break but can be costly for many Realtors. It also depends on how many associations you belong to - if you're part of more than one, the cost can be substantial. Arizona allows you to be a member or multiple associations.
Documentation proving residence
To be eligible to apply for an Arizona license as a real estate agent, an applicant must show proof that they are a resident of Arizona. This can be either immigration paperwork, a photo of a Social Security card or proof that you are a resident of Arizona. Although an out-of-state applicant may skip this step, they must still provide proof of education and a fingerprint clearance certificate. Fingerprint clearance cards can take eight to 10 weeks to receive, so applicants should allow ample time to complete this step.
The 96-hour course covers Arizona's realty laws policies and procedures. You can take this course online or in a classroom. The course can take from one to three months. The course must be completed within one year. After that, you can apply to buy real estate. You must be at minimum 18 years to apply. Arizona licenses may not be available to minors.
FAQ
What is the maximum number of times I can refinance my mortgage?
This will depend on whether you are refinancing through another lender or a mortgage broker. You can typically refinance once every five year in either case.
What should I do if I want to use a mortgage broker
If you are looking for a competitive rate, consider using a mortgage broker. A broker works with multiple lenders to negotiate your behalf. Some brokers do take a commission from lenders. Before you sign up for a broker, make sure to check all fees.
What are the three most important things to consider when purchasing a house
The three most important things when buying any kind of home are size, price, or location. Location is the location you choose to live. Price refers the amount that you are willing and able to pay for the property. Size refers how much space you require.
How long does it take to get a mortgage approved?
It depends on several factors such as credit score, income level, type of loan, etc. Generally speaking, it takes around 30 days to get a mortgage approved.
Statistics
- Based on your credit scores and other financial details, your lender offers you a 3.5% interest rate on loan. (investopedia.com)
- 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)
- Over the past year, mortgage rates have hovered between 3.9 and 4.5 percent—a less significant increase. (fortunebuilders.com)
- When it came to buying a home in 2015, experts predicted that mortgage rates would surpass five percent, yet interest rates remained below four percent. (fortunebuilders.com)
External Links
How To
How to Find a Real Estate Agent
Agents play an important role in the real-estate market. They can sell properties and homes as well as provide property management and legal advice. You will find the best real estate agents with experience, knowledge and communication skills. Online reviews are a great way to find qualified professionals. You can also ask family and friends for recommendations. You may also want to consider hiring a local realtor who specializes in your specific needs.
Realtors work with homeowners and property sellers. A realtor helps clients to buy or sell their homes. Apart from helping clients find the perfect house to call their own, realtors help manage inspections, negotiate contracts and coordinate closing costs. A majority of realtors charge a commission fee depending on the property's sale price. Unless the transaction is completed, however some realtors may not charge any fees.
There are many types of realtors offered by the National Association of REALTORS (r) (NAR). To become a member of NAR, licensed realtors must pass a test. The course must be passed and the exam must be passed by certified realtors. NAR recognizes professionals as accredited realtors who have met certain standards.