Two forms of identification with your name and signature should be brought to the Washington real estate licensing exam. You must also know that the results of the exam are valid for one year, so you must apply for your broker's license before the results expire. If you fail to pass the exam, you'll be provided with instructions on how you can retake it within six month. 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. The 90-hour course covers real estate principles, contracts and finance. The online courses provide access to multiple modules which cover different topics. The study guides and optional tests will help students 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 with the state's licensing test agency before they can take the exam. They must also provide evidence of course completion. They must pass the broker's exam, and answer legal background questions. They must also submit their fingerprints to a background check once every six years. 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. The questions on each portion are interspersed. About five to ten questions will be considered experimental and not scored. Both sections have multiple-choice question. Test takers have 3.5 hours to complete both. To pass, a scaled score of 70 is needed. The test content is extensive and covers all aspects the state's real-estate laws, contracts, procedures.
Pre-licensing courses cover many of the same topics that the exam. You will need to know the basics of real estate math and the formulas 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. Also, you should remember the math formulas and facts that were taught in your pre-licensing program.
Cost
The cost of wa real estate licensing varies from state to state, and varies with the type of business you run. A salesperson license can be more expensive than a brokerage license. The latter requires additional schooling, and the payment of state licensing fees. If you are starting from scratch, the costs of real estate licensing can be higher, but you can cut these costs by creating a business plan and identifying your target clients. There are numerous marketing options available such as social media campaigns, digital ads, and print ads.
The cost of prelicensing coursework varies depending on the place you choose. It can cost from $260 up to $500. After you complete the required course, your state licensing exam must be passed. MLS membership costs an additional $50-$60. The cost of MLS membership varies by region. To find the actual cost, you will need to check the fees in your area. Additionally, you'll likely need to pay a small amount to become an associate member of the National Association of Realtors.
Online options
It can be a good idea to choose an online school to fulfill your Washington real estate licensing requirements. Unlike classroom-based schools, online schools allow you to set your own pace and get the information you need, so you can complete your studies in as little time as possible. Online classes offer valuable exam preparation services and tutor support. You can also upgrade your course by purchasing Exam Preparation Plus. This includes a real estate dictionary and live exam cramer series. There is also a Q&A session with instructors.
Kaplan offers five WA prelicensing packages. You have the option to choose between Premium and Value packages, depending on your requirements. These packages offer three online courses with a total of nine credit hours. You can complete both packages at your own pace. If you have to, you can always go back to where you were. Kaplan's courses feature seasoned real-estate professionals who provide current and pertinent information.
FAQ
Is it possible to quickly sell a house?
If you have plans to move quickly, it might be possible for your house to be sold quickly. You should be aware of some things before you make this move. First, you will need to find a buyer. Second, you will need to negotiate a deal. The second step is to prepare your house for selling. Third, your property must be advertised. You should also be open to accepting offers.
How many times do I have to refinance my loan?
It all depends on whether your mortgage broker or another lender is involved in the refinance. In both cases, you can usually refinance every five years.
How can I determine if my home is worth it?
You may have an asking price too low because your home was not priced correctly. You may not get enough interest in the home if your asking price is lower than the market value. You can use our free Home Value Report to learn more about the current market conditions.
What are the downsides to a fixed-rate loan?
Fixed-rate mortgages have lower initial costs than adjustable rates. Additionally, if you decide not to sell your home by the end of the term you could lose a substantial amount due to the difference between your sale price and the outstanding balance.
What should I look out for in a mortgage broker
A mortgage broker assists people who aren’t eligible for traditional mortgages. They compare deals from different lenders in order to find the best deal for their clients. This service is offered by some brokers at a charge. Some brokers offer services for free.
Statistics
- Over the past year, mortgage rates have hovered between 3.9 and 4.5 percent—a less significant increase. (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)
- 10 years ago, homeownership was nearly 70%. (fortunebuilders.com)
- This means that all of your housing-related expenses each month do not exceed 43% of your monthly income. (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 real estate agents
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. A good real estate agent should have extensive knowledge in their field and excellent communication skills. Online reviews are a great way to find qualified professionals. You can also ask family and friends for recommendations. A local realtor may be able to help you with your needs.
Realtors work with both buyers and sellers of residential real estate. 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. However, some realtors don't charge a fee unless the transaction closes.
There are many types of realtors offered by the National Association of REALTORS (r) (NAR). NAR members must pass a licensing exam and pay fees. The course must be passed and the exam must be passed by certified realtors. NAR has established standards for accredited realtors.