The most common question people ask is how many questions there are on the exam. Most individuals studying for the real estate agent certification test assume that there will be just like two or three per topic, at best.
In fact, there are only eight core topics in the whole examination! This means that of all the possible questions you could get asked, only about one third have been covered in the past few months that these professionals sat for their certifications!
The other important thing to note is that each of these eight topics can be broken down even more- which would bring the total number up close to ten!
This article will go into much greater detail than what I mentioned before, as we’ll be breaking down not only the individual parts of each topic, but also some additional points related to each one.
Understanding what is expected of you in terms of practical skills
As we mentioned before, being a real estate agent means more than just having a license. There are several other important tasks that must be done to ensure your success as an agent.
In this article, we will talk about some of these responsibilities. The term professional real estate agent usually includes three main components: sales agents, listing agents, and residential brokers.
All three positions require similar levels of expertise, professionalism, and responsibility, but they all have different styles and cliches of marketing.
Sales agents typically focus on closing deals while also producing qualified leads through direct outreach. Listing agents create listings that sell their homes, which can sometimes take many months. Residential brokerages find home buyers for sellers’ properties and get paid either per sale or by commission.
This article will discuss the differences between each position and how much experience needed to reach the level of proficiency.
Are there any special licenses I need?
As we mentioned before, being licensed is not required to work in real estate. But it is helpful if you want to be considered professional!
In fact, most Realtors are licensed! The National Association of Realtor’s (NAR) mandate is for every person working as a broker or agent to be certified. NAR offers both REALTOR® certification and Agent certification.
Agents must also hold at least one seller’s license, but most people don’t. That’s okay though because most sellers will hire anyone to sell their home!
As seen with our example before, even if you aren’t fully certifed yourself, you can still help others find homes by advertising your listings and offering your services as a listing agent or buying agent.
But what about when they ask you questions that require a licnese? You can always refer them to another re-seller or buyer who is, or to someone else within your organization like an Assistant Broker.
Do I need my own transportation?
Having your own vehicle is not a requirement for being a successful real estate agent. In fact, many large brokerages do not require their agents to have their own cars because they are given free use of an agency car or paid for one through work.
If you feel that you cannot afford to not have your own transport then try living without it for a month. You will be surprised at how much you can get done!
You should also consider whether having your own transport is necessary to achieve career success in real estate. If possible, most major brokerage firms offer trainee positions that don’t require you to have your own vehicle.
How should I prepare for the test?
The most common way to prepare for the exam is by studying past questions in-depth, under timed conditions. This is very helpful as you get the chance to practice using your notes and study materials from before.
There are two main reasons why this approach is good. First, it gives you more time to think about each question. You will not be rushed when taking the test because there’s no passing out early.
Second, practicing under time constraints can help you retain the information longer. If you have enough time, you can make sure that everything has left its impression on you.
Many students choose to use flash cards or other testing tools to do this.
What should I wear?
Even though there is no official dress code for real estate, most brokers will suggest that you put together some formal clothes to go through an exam with at least part time responsibility. This can be very expensive so make sure you are able to afford this!
If possible, try to pick up some test materials or courses at your local community college. There may even be free ones available via their website.
Another way to prepare without spending too much money would be looking into taking the internet-based practice exams found on sites like Vue, Testking and Princeton Review. You would want to do these as soon as possible before the exam date to get better insights on how they organize each question type.
And lastly, try to look more professional than wearing jeans with a casual shirt.
Is there any other documentation I need?
The hardest part of taking the real estate exam is knowing when you are done! There is no formal time limit for testing, but most brokerages give you around two hours to test everything. You should be aware that if your preparation is not up to par, you can lose valuable study time!
Most brokers will provide you with what’s called a book of forms. These are documents like warranties, licenses, etc. That way you don’t have to look them up or try to find them yourself.
Once again, unless you have been through this process before, it may be difficult to know when all of these things are completed.
The best advice we can offer is to just go at your own pace. If you get stuck, take some more time off until you feel ready.
What if I don’t have my license yet?
Even if you are not certified, there is still an easy way to prepare for the exam! The National Association of Realtors (NAR) offers certification preparation courses that can be completed either online or through a vendor location. There are two main types of courses available: preparatory courses and review courses.
A preparatory course will take you through all three chapters of the NAR Principles of Business & Property Book which was updated in 2017. This book contains information about ethics, marketing, finance, property law, and more. You can find these courses at narschools.org/realestatecertificationprep.
A review course goes over just one chapter per week of the book and is usually one month long. These courses are cost-effective and good opportunities to get some extra practice before taking the test. Your study materials can also be accessed from any device so you do not need to purchase them again once you are done studying.
Am I ready to sell my home?
The most common question sellers are asked is if they are “ready” to list their property. This can sometimes be confused with whether or not you have enough money to market your house.
Having enough money to promote your house is only part of being prepared to sell! It is very important to determine if you are truly ready to sell by asking yourself some key questions about real estate.
Does my house show well?
Are there signs that people do not want to buy in this area anymore? If so, would changing the location, price, or both help get it sold faster?
Is everything documented and accounted for?
Do I feel confident that I will receive the best possible value for my home?
In short, yes, you are ready when you feel like you are 100% sure that you will get top dollar for your home and no matter what changes you make, it will still bring you the highest return.