What is on the real estate exam?
Each state has its own requirements for passing this exam to get a license. These are questions that are related to the subject of the real estate community, for example, market environment analysis, forms of ownership, drafting contracts, and so on. Looking specifically at California, the examination consists of the following topics: agency law, selling, contracts, property transferring, private and commercial real estate practice, and a number of other real estate license exam topics including even ethics experience, team work and opening your own business. In most cases, the examples of exam material questions in many states are similar; let’s focus on the most important ones.
Agency and fiduciary duty laws
These are exam material about how a person bears a fiduciary duty to another person (read more information on Linkedin). That is, the first person, as a fuduciary, must bring financial advantage to the second one (client) who names the beneficiary. Study this material. However, you must grasp the rights of the approach to clients, how to find out what real estate they want and make the ideal way for them. Prep-course guide has such a theme so that you can understand this in more detail.
Control and regulation of property ownership and land use
The agent or broker must know land use regulations taking in account at least 2 important laws limiting land use. Read pre-study materials from government agencies to deeper grasp the topic.
Financial analysis and property valuation
This will test your ability to analyze marketing content on the real estate market so that all parties benefit: the client is satisfied and the realtor brings benefits to the brokerage company. The exam items on the test will be about mortgages and its categories, investing service, renting areas, NOI, and DCF.
Transfer of ownership of property
Study and answer the license exam correctly about the most actual method of transferring property. Say what kind of act is this, does the property have encumbrances, quitclaim deed, guarantee documents (there are 2 basic types of such documents).
Financing
Considering the concepts of how to pass the real estate exam, you should explore every thing about the average asking price for similar properties. License exam include points about the approximate timing of the sale, forecasting the duration of the sales process, the impact of seasonality on real estate prices and much more.
Real estate practice and disclosure
Realtors must explore not only what the management means, but also all the right methods of real estate valuation in order to free and confidently work not only with curious buyer, but even with any stubborn seller. The examination has points on the ability to classify real estate objects, determine their legal and physical status, quality, and characteristics. Practice and learn more.
Contracts
Candidates for a license career must know what 4 elements are required to draw up contracts, what the password evidence rule is and be able to conclude such documents. The test also contains the executive contract, about full or partial execution of the contract. You will study it on the shortest prep-course.
Top helpful tips to pass the real estate exam
Your main goal is to pass such testing as successfully as possible. But for this you need to learn the real estate material well. But there are certain tips that will help you be less hectic, be prepared and pass the examination from the first step.
Use real estate practice exams
The primary tip is to find sample examples of such license tests so that you can understand a little more what to expect in the examination. There are real estate portals that offer previous year’s exam practice for specific states. For example, a test that was taken from the Test-Guide website.
Study your real estate terms and vocabulary
Before you’ve learned the exam, you should study a specific real estate vocabulary. Studying the question of how to pass the real estate test, learn all the terms carefully so as not to get confused and confident understand the essence of the licensing issue.
Practice your real estate math
Math is very important in real estate license exam so you should recognize what mathematical methods are used in real estate valuation. The practice test may contain questions about the simplest financial transactions (sales) performed in investment activities.
Create your own real estate cheat sheet
Here we are talking about flashcards that will help you with learning new terms and not a cheat sheet that you will take for the examination. Find terms in the online library. Write down particularly difficult real estate terms and take a cheat sheet bundle with you on a walk so that you could occasionally peek and study these words.
Ask estate agents or brokers for help
A perfect licensed real estate agent or broker will become a master for you who will give you a lot of useful advice and tell you various principles and nuances. Almost all candidates for a license career who studied how to pass the national real estate exam were searching for a specific person. Contact or read expert opinions on the Internet. There are trusted specialists who share their useful YouTube videos or leading blog about their story of how and why becoming professional or offer an expert’s support. Not the most in-depth prep-course can replace communication with understanding the real successful people. Ensure this when communicating.
Use a real estate exam preparation course
It is impossible to pass the practice exam without doing pre-license courses; it helps to study the real estate field more accurately and focus on the main points. Find effective real estate courses before exams in your state, get the materials you need, don’t skip classes, and you’ll be deeply prepared.
Tips the day before the test
Every student is fidgety all week before going to an examination, especially if their best future career and life depends on its results. But you need to postpone studying, calm down and follow these simple tips to have a good rest, getting strength and keep your mind focused as possible.
Relax and rest
First tip to begin is to get more rest and you will feel good to be better prepared for the exam. There is no need to be anxious and think about bad things; on the day of the real estate examination you should be calm. The key thing is to banish all thoughts about exams, listen to your favorite music, pay attention to relationships with your family, live home for a walk in the park, enjoy weekend, draw, watch video or read new, interesting book. Actually, your rest day is still today – a hard test-taking way will be tomorrow.
Get a good night’s sleep
There is nothing better than a good and deep sleep. If you can’t sleep, try to do it. Some people can’t sleep the whole night and the next day they’re completely shattered without a break, you don’t want that to be done.
Eat well
Eat healthy and tasty food high in protein and fiber: toast with honey, eggs, muesli (put different fruits and nuts) or oatmeal. Avoid fatty and unhealthy foods. If you’re a little fidgety and don’t want to eat too much, the good idea is to drink a big milkshake or eat two bananas.
Plan your morning
Your morning before the real estate exam date should be clearly planned so that you well-rested do not forget anything. You woke up, did some exercise to cheer yourself up, took a shower and make breakfast. Pack your bag from early evening with everything you need and go for real estate testing to arrive at the exam office center on time.
Stay positive
When thinking about how to pass the realtor exam, just remember that your psychological state in education is also important. Be optimistic because you definitely have many great chances to pass this practice examination. Even if not, you’ll have more ways for attempts later re-preparing again.
Tips for the real estate exam – the exam itself
The day to pass real estate exam comes and you are ready. It seems to you that the procedure would take a long time and you may forget something or get confused. This may be true, but we have some exam tips for you.
Read information carefully
Take your paper and start reading the first page question. If you urgently need to concentrate, read information in a whisper to better understand the task. Now, take your time, read the exam questions once otherwise you will get confused and make mistakes.
Read information carefully
After reading the question, focus on writing what you know. You are prepared and your thoughts are fresh, keep restraint inside to achieve success. Primarily thoughts being clearer than subsequent decisions, don’t change them.
Eliminate the wrong answers
This type of real estate examination is testing, that is, you will have answer options. If you are not sure of the correct answer, then exclude those incorrect points that you inquire for sure.
Eliminate the wrong answers
No distractions – it is a bad preparing sign. See the time and the quantity of questions remaining. You are well prepared and you will manage everything, continuing to think about confidence in your knowledge concepts. If students already start to get distracted, they will be wasting their time.
Review your answers
Finish the real estate test, go back through all the questions again and pay attention to those where you not answered. Perhaps, with reviewing, thought came to you and you remembered everything.
Guess
The last resort if some practice questions are left without the correct answer is simple guessing. Please, it is not a recommendation to pass real estate test, it is simple advice to stick to it. You can’t learn everything. It will be easy for you to guess where you have eliminated the wrong options.
Passing the real estate license exam
If you are 18 years old and have completed the pre-licensing courses, you might be allowed to pass the exam. Studying the educational prep-course information is not everything, choose common real estate tests on the online resources and try your hand. This will help to narrow down weak points and improve knowledge in that area.
Frequently asked questions about the real estate exam
How long should you study for the real estate exam?
In many states, a future agent needs almost 2 months to prepare well for the examination to get a high score. Find specialized studying courses and take them, read literature, meet with experts, search for information on the Internet.
How many times can you retake the real estate exam?
To become a realtor, you can retake the real estate exam as many times as necessary to obtain licensing. But this rule does not work in all states. Some of them offer a certain quantity of retakes (often 2 or 3). You don’t have plenty of attempts, for example, in New Jersey. Get more detailed info on The CE Shop website.
How hard is it to pass the real estate examination?
All examinations seem difficult if you have little knowledge even at school. If you have prepared well, then you do not need to worry, you will pass the real estate test.
How many questions are on the real estate examination?
Typically, the test lasts four hours and includes 150 questions (varies in some states). Passing is 70 percentage of the correct answer rate.
How much does It cost to retake the real estate exam?
Each state sets its own fee amount, usually from $39 to $210. The most inexpensive option is the real estate examination in Tennessee ($39). In Washington, this amount is 210 dollars. Get the real estate examination fees here.
