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. You will be given instructions to retake the exam if you fail. Once you have passed the exam, you can submit your official application.
Pre-licensing education
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. The courses are divided into several modules, each covering a different topic, and are provided through online programs. Students will receive study materials and optional exams to help them prepare for their real estate exam.
Washington State Department of Licensing and Regulation requires applicants to undergo a background investigation before taking 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. Additionally, applicants must submit fingerprints for background checks every six-years. This information is available to applicants who have received pre-licensing education from another state.
Exam content
The WA Real Estate License Exam consists of two sections: one national, and one state-specific. Interspersed are the questions from each section. Five to ten questions from each section will be considered experimental. They are not scored. Both portions have multiple-choice questions, and the test taker has 3.5 hours to finish both parts. 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.
Many of the same topics are covered in a pre-licensing program as the exam. The basics of real estate math are required. Practice tests are a great way to improve your score. Practice tests can also be used to review the format and highlight your weak areas. You should also memorize a few facts and math formulas that you've learned in your pre-licensing course.
Prices
Costs of wa realty licenses vary from state-to-state and depend on the type 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. You also have numerous marketing resources, such digital ads, social media campaigns, and print ads.
The cost of pre-licensing coursework will range from $260 to $500, depending on where you choose to take it. Once you have completed the course, the state licensing exam will be taken. MLS membership costs an additional $50-$60. MLS membership fees vary by region, so you'll have to check your local fees to determine the actual cost. A separate fee will be required to become a National Association of Realtors member.
Online options
Choosing an online school for your Washington real estate licensing requirements can be an advantageous decision. 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. The online classes also include tutor support and exam prep services. Exam Preparation Plus allows you to purchase an upgrade for your course. This includes a real e-book, live exam cramer series and Q&A sessions.
Kaplan offers five WA-pre-licensing programs. You can choose between the Premium and Value packages depending upon your needs. These packages offer three online courses with a total of nine credit hours. Both packages allow for flexibility in how you work and can be resumed from where you left off. Kaplan's courses feature seasoned real-estate professionals who provide current and pertinent information.
FAQ
Is it possible fast to sell your house?
You may be able to sell your house quickly if you intend to move out of the current residence in the next few weeks. Before you sell your house, however, there are a few things that you should remember. You must first find a buyer to negotiate a contract. Second, prepare your property for sale. Third, you must advertise your property. Lastly, you must accept any offers you receive.
What are the downsides to a fixed-rate loan?
Fixed-rate loans are more expensive than adjustable-rate mortgages because they have higher initial costs. Also, if you decide to sell your home before the end of the term, you may face a steep loss due to the difference between the sale price and the outstanding balance.
How much should I save before I buy a home?
It all depends on how many years you plan to remain there. Start saving now if your goal is to remain there for at least five more years. You don't have too much to worry about if you plan on moving in the next two years.
What are the pros and cons of a fixed-rate loan?
Fixed-rate mortgages guarantee that the interest rate will remain the same for the duration of the loan. This means that you won't have to worry about rising rates. Fixed-rate loans offer lower payments due to the fact that they're locked for a fixed term.
How can I calculate my interest rate
Market conditions can affect how interest rates change each day. The average interest rates for the last week were 4.39%. Multiply the length of the loan by the interest rate to calculate the interest rate. Example: You finance $200,000 in 20 years, at 5% per month, and your interest rate is 0.05 x 20.1%. This equals ten bases points.
Statistics
- 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)
- This means that all of your housing-related expenses each month do not exceed 43% of your monthly income. (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)
- This seems to be a more popular trend as the U.S. Census Bureau reports the homeownership rate was around 65% last year. (fortunebuilders.com)
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How To
How to find houses to rent
For people looking to move, finding houses to rent is a common task. However, finding the right house may take some time. When you are looking for a home, many factors will affect your decision-making process. These factors include location, size and number of rooms as well as amenities and price range.
We recommend you begin looking for properties as soon as possible to ensure you get the best deal. Also, ask your friends, family, landlords, real-estate agents, and property mangers for recommendations. This will give you a lot of options.