You will need two forms of identification to pass the Washington real-estate licensing exam. One should have your name, signature and current photograph. The exam results are valid for one-year. You will need to apply for your broker's licence before they expire. You will be given instructions to retake the exam if you fail. Once you have passed, you can submit your formal application.
Pre-licensing education
Washington's state requires that all real estate agents must have completed at least 90 hours of education in order to pass their licensing exam. This 90-hour course includes courses on real estate principles, contracts, finance, and more. Online programs allow students to access the courses in multiple modules that cover a variety of 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 at the state's licensing agency to be eligible for the exam. They must also submit proof of completion. They must pass a broker's exam and answer legal background questions. They must also submit their fingerprints to a background check once every six years. This information can be used by applicants who have already completed pre-licensing studies in another country.
Exam content
The exam for WA real estate licensing consists of two parts: the national and the state-specific portion. 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. You must score 70 to pass. 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. Practice tests are a great way to improve your score. 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 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. You may have to pay more for real estate licensing if you are just starting out. However, this can be reduced by creating a business strategy and identifying your potential clients. There are many marketing tools available to you, such as digital ads, print ads, and social-media campaigns.
Pre-licensing courses cost between $260 and $500 depending on the location. After you have successfully completed the course, you will need to pass the state licensing exam. Additional fees for membership to the MLS are $50-60. Fees for MLS membership differ by region so it is important to compare the costs with your local fees. You will also likely have to pay a small fee in order to become a member of National Association of Realtors. This fee is separate.
Online options
A good decision is to make an online school your Washington license. 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. You will also receive valuable exam prep support and tutor support through instructors. 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 Pre-licensing Packages. You have two options: the Premium or Value package. These packages include three online courses that require fewer than nine credit hours each. These packages allow you to finish the coursework whenever it suits you best. You can even resume from where your last course was if you wish. Kaplan's courses were developed by experienced real estate professionals, who cover relevant and current topics.
FAQ
How much money do I need to save before buying a home?
It depends on how long you plan to live there. If you want to stay for at least five years, you must start saving now. However, if you're planning on moving within two years, you don’t need to worry.
Is it possible to sell a house fast?
You may be able to sell your house quickly if you intend to move out of the current residence in the next few weeks. There are some things to remember before you do this. First, you need to find a buyer and negotiate a contract. Second, prepare the house for sale. Third, you must advertise your property. Finally, you need to accept offers made to you.
What should I look for when choosing a mortgage broker
People who aren't eligible for traditional mortgages can be helped by a mortgage broker. They look through different lenders to find the best deal. This service may be charged by some brokers. Some brokers offer services for free.
Can I buy a house in my own money?
Yes! Yes! There are many programs that make it possible for people with low incomes to buy a house. These programs include conventional mortgages, VA loans, USDA loans and government-backed loans (FHA), VA loan, USDA loans, as well as conventional loans. Visit our website for more information.
Statistics
- Over the past year, mortgage rates have hovered between 3.9 and 4.5 percent—a less significant increase. (fortunebuilders.com)
- The FHA sets its desirable debt-to-income ratio at 43%. (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)
- 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)
- 10 years ago, homeownership was nearly 70%. (fortunebuilders.com)
External Links
How To
How to find real estate agents
The real estate agent plays a crucial role in the market. They help people find homes, manage their properties and provide legal advice. Experience in the field, knowledge of the area, and communication skills will make a great real estate agent. Look online reviews to find qualified professionals and ask family members for recommendations. Consider hiring a local agent who is experienced in your area.
Realtors work with buyers and sellers of residential properties. A realtor's job it to help clients purchase or sell their homes. Realtors assist clients in finding the perfect house. Most agents charge a commission fee based upon the sale price. Unless the transaction closes however, there are some realtors who don't charge a commission fee.
The National Association of REALTORS(r) (NAR) offers several different types of realtors. Licensed realtors must pass a test and pay fees to become members of NAR. Certified realtors are required to complete a course and pass an exam. Accredited realtors are professionals who meet certain standards set by NAR.