You will need two forms of identification to pass the Washington real-estate licensing exam. One should have your name, signature and current photograph. It is important to know that the exam results are valid for a year. Therefore, you need to apply for your broker license before they expire. If you fail the exam, you will be given instructions on how to retake it within six months. 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 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. 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 every applicant to pass a background screening before they are allowed to take the real estate exam. The state licensing testing agency must be registered before the candidates can take the exam. They must also prove that they have completed the course. They must pass a broker exam and answer legal background question. Additionally, applicants must submit fingerprints for background checks every six-years. This information can be used by applicants who have already completed pre-licensing studies in another country.
Exam content
The WA licensing exam in real estate includes two parts. One is the national section and one is the state-specific. Interspersed are the questions from each section. About five to ten questions will be considered experimental and not scored. Both parts have multiple-choice questions. It takes 3.5 hours to complete each. To pass, you will need a scaled score between 70 and 80. The test content is generally comprehensive and covers all aspects state's real property laws, contracts, as well as procedures.
A pre-licensing course covers many of the same topics as the exam. The basics of real estate math are required. The subjects covered on the test are not constantly changing, and taking practice tests is essential to improving your score. Practice tests can also be used to review the format and highlight your weak areas. A few math formulas and facts from your pre-licensing course should be memorized.
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. 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 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. Once you've completed the required course you must pass the state licensing exam. An additional $50-60 cost to join the MLS. MLS membership fees vary by region, so you'll have to check your local fees to determine the actual cost. To become a member of National Association of Realtors, you will need to pay an additional fee.
Online options
An online school can help you fulfill Washington's 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. Exam Preparation Plus is available to enhance your course. This includes a realestate dictionary, live examcramer series and a Q&A with instructors.
Kaplan offers five WA pre-licensing packages. You can choose between the Premium and Value packages depending upon your needs. These packages contain three online courses, each requiring less than nine credit hours. 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 feature seasoned real-estate professionals who provide current and pertinent information.
FAQ
Is it cheaper to rent than to buy?
Renting is generally less expensive than buying a home. But, it's important to understand that you'll have to pay for additional expenses like utilities, repairs, and maintenance. A home purchase has many advantages. You'll have greater control over your living environment.
What are the downsides to a fixed-rate loan?
Fixed-rate loans have higher initial fees than adjustable-rate ones. If you decide to sell your house before the term ends, the difference between the sale price of your home and the outstanding balance could result in a significant loss.
What should I look out for in 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 is offered by some brokers at a charge. Others provide free services.
Statistics
- 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)
- 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)
- 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)
External Links
How To
How to buy a mobile house
Mobile homes can be described as houses on wheels that are towed behind one or several vehicles. They have been popular since World War II, when they were used by soldiers who had lost their homes during the war. People today also choose to live outside the city with mobile homes. Mobile homes come in many styles and sizes. Some are small, while others are large enough to hold several families. You can even find some that are just for pets!
There are two main types mobile homes. The first is made in factories, where workers build them one by one. This happens before the product can be delivered to the customer. The other option is to construct your own mobile home. The first thing you need to do is decide on the size of your mobile home and whether or not it should have plumbing, electricity, or a kitchen stove. Next, ensure you have all necessary materials to build the house. To build your new home, you will need permits.
If you plan to purchase a mobile home, there are three things you should keep in mind. You may prefer a larger floor space as you won't always have access garage. A model with more living space might be a better choice if you intend to move into your new home right away. Third, you'll probably want to check the condition of the trailer itself. It could lead to problems in the future if any of the frames is damaged.
You need to determine your financial capabilities before purchasing a mobile residence. It is important to compare the prices of different models and manufacturers. Also, consider the condition the trailers. Many dealerships offer financing options but remember that interest rates vary greatly depending on the lender.
Instead of purchasing a mobile home, you can rent one. Renting allows you the opportunity to test drive a model before making a purchase. However, renting isn't cheap. Renters typically pay $300 per month.