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. If you fail to pass the exam, you'll be provided with instructions on how you can retake it within six month. You can submit your official application once you have passed the exam.
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 covers finance, contract principles, real estate principles, and much more. Each module covers a different topic and the courses are delivered online. 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 each applicant to pass background checks before they can take the realty exam. Candidates must register with the state's licensing test agency before they can take the exam. They must also prove that they have completed the course. 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 is available to applicants who have received pre-licensing education from another state.
Exam content
The WA exam for real estate licenses consists two parts: the national portion and the state-specific section. Each portion has interspersed questions. The experimental questions, which range from five to ten in number, will not be scored. Both parts have multiple-choice questions. It takes 3.5 hours to complete each. You must score 70 to pass. The test content covers all aspects of state real estate laws, contracts and procedures.
A pre-licensing course covers many of the same topics as the exam. Real estate math basics and formulas to solve common real estate calculations will be required. It is important to practice the test frequently as subjects are constantly changing. You may also want to take practice tests to ensure you understand the format and make note of your weak areas. You should also memorize a few facts and math formulas that you've learned in your pre-licensing course.
Prices
The cost of wa realty licensing varies from one state to another and depends on the type of business that you have. A salesperson license is less expensive than a broker license, as the latter requires additional schooling and state licensing fees. Although licensing real estate can be expensive, starting from scratch can save you money. You can create a business plan and identify your target clients to reduce the cost. 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. The fees for MLS membership vary from one region to the next. You'll need to verify your local fees to find out the exact cost. 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
Online schools can be a great option for Washington real estate license requirements. Online schools are more flexible than traditional schools. You can work at your own pace and access the information you need. This will allow you to complete your education in as little as possible. You will also receive valuable exam prep support and tutor support through instructors. Additionally, you can upgrade your course by purchasing Exam Preparation Plus, which includes a real estate dictionary, live exam cramer series, and a Q&A session with instructors.
Kaplan offers five WA-pre-licensing programs. You have two options: the Premium or Value package. These packages consist of three online courses each that take less than nine hours. The two packages let you complete the coursework at your convenience. You can also resume where you left off, if necessary. Kaplan's courses were developed by experienced real estate professionals, who cover relevant and current topics.
FAQ
What should I look out for in a mortgage broker
A mortgage broker helps people who don't qualify for traditional mortgages. They work with a variety of lenders to find the best deal. This service may be charged by some brokers. Other brokers offer no-cost services.
Can I buy my house without a down payment
Yes! Yes. These programs include FHA loans, VA loans. USDA loans and conventional mortgages. Check out our website for additional information.
How do I get rid termites & other pests from my home?
Your home will be destroyed by termites and other pests over time. They can cause serious damage to wood structures like decks or furniture. This can be prevented by having a professional pest controller inspect your home.
Statistics
- 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)
- The FHA sets its desirable debt-to-income ratio at 43%. (fortunebuilders.com)
- Based on your credit scores and other financial details, your lender offers you a 3.5% interest rate on loan. (investopedia.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)
External Links
How To
How to become an agent in real estate
An introductory course is the first step towards becoming a professional real estate agent. This will teach you everything you need to know about the industry.
Next you must pass a qualifying exam to test your knowledge. This means that you will need to study at least 2 hours per week for 3 months.
You are now ready to take your final exam. To be a licensed real estate agent, you must achieve a minimum score of 80%.
You are now eligible to work as a real-estate agent if you have passed all of these exams!