To become a licensed real estate agent in Arizona, you will need to complete two real estate courses. The first, a 90 hour course, covers real estate law basics and general practices. It also includes Arizona-specific laws. Additionally, you will need a six-hour class on contract writing principles. Both courses will be required, but passing only one course will not guarantee you pass the real estate exam. Students often struggle with the math principles in the 90-hour course. It's therefore imperative to spend time studying the material, so that you feel confident in your ability to pass the exam.
Pre-licensing education
The 90-hour pre-licensing training required to obtain your Arizona realty license is necessary. This course teaches real estate law, ethics, and other topics. It's divided into 45 2-hour parts and requires a proctored final examination. The test must be passed with a minimum score of seventy five percent. You will need to arrange travel for the test, which is usually held at a real-estate school or testing center. After passing the course, you will be awarded a certificate of completion.
There are many online programs to choose. Pre-licensing education is easy with the PrepAgent course. It contains e-books, audio lessons, practice tests, and videos. PrepAgent offers a 20% discount to Fit Small Business readers. You can find a course at any traditional school or you can take an online course.
Exam
The state real-estate license exam is required to become licensed in Arizona. The 150 multiple-choice question portion of the exam is required. It takes approximately three hours to complete. After completing the exam, you will need to apply for your license. Within one year of passing the exam, you must apply for a Arizona Department of Public Safety fingerprint clearance card.
There are many methods to prepare for the Arizona real-estate license exam. Pearson VUE is the official administrator for this exam. To find out which areas of the exam you need to concentrate on, practice tests can be helpful. A practice test can be taken to get familiar with test questions. There are many online video training courses that can help prepare. This is the best and most efficient way to prepare for the exam. It is important to choose a test preparation course that covers the material on which you will be tested.
Fees
For renewal of an Arizona real-estate license, 24 hours must be spent on renewal credit. That includes 18 hours in 6 classes. As long as the Arizona Real Estate Commission approves, the 24 remaining hours can be taken in another class. The course number and type cannot be duplicated. 90 days notice is required to renew a license. The renewal of a license is $50 and can be done by meeting all requirements.
You must also pay the licensing fee and membership fees to the state or local real estate boards. Membership in these associations will likely qualify as a tax break, but can be a significant expense for many Realtors. It all depends on how many organizations you belong to. If you are a member of several, it can add up quickly. Arizona allows you to belong to multiple associations.
Proof of residence
To be eligible to apply for an Arizona license as a real estate agent, an applicant must show proof that they are a resident of Arizona. This usually includes proof of residency, copy of a social safety card or immigration paperwork. An out-of-state applicant can skip this step, but they must still submit proof of education and fingerprint clearance card. This step can take from eight to ten to receive fingerprint clearance cards so applicants need to allow plenty of time.
You must complete a 96-hour course covering Arizona's real estate laws and policies in order to obtain a license. This course can either be taken online or in person. The course may take one to three month. The course must be completed within one year. After that, you can apply to buy real estate. You must be at least 18 years old to apply. Arizona may not grant licenses to minors.
FAQ
Can I get another mortgage?
Yes. However it is best to seek the advice of a professional to determine if you should apply. A second mortgage can be used to consolidate debts or for home improvements.
What are the downsides to a fixed-rate loan?
Fixed-rate mortgages have lower initial costs than adjustable rates. 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.
Should I buy or rent a condo in the city?
Renting is a great option if you are only planning to live in your condo for a short time. Renting can help you avoid monthly maintenance fees. You can also buy a condo to own the unit. You have the freedom to use the space however you like.
How do I eliminate termites and other pests?
Over time, termites and other pests can take over your home. They can cause serious damage and destruction to wood structures, like furniture or decks. It is important to have your home inspected by a professional pest control firm to prevent this.
Statistics
- 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)
- 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)
- Based on your credit scores and other financial details, your lender offers you a 3.5% interest rate on loan. (investopedia.com)
- This means that all of your housing-related expenses each month do not exceed 43% of your monthly income. (fortunebuilders.com)
External Links
How To
How to Locate Real Estate Agents
The real estate market is dominated by agents. They sell homes and properties, provide property management services, and offer legal advice. The best real estate agent will have experience in the field, knowledge of your area, and good communication skills. To find a qualified professional, you should look at online reviews and ask friends and family for recommendations. Local realtors may also be an option.
Realtors work with both buyers and sellers of residential real estate. A realtor helps clients to buy or sell their homes. Apart from helping clients find the perfect house to call their own, realtors help manage inspections, negotiate contracts and coordinate closing costs. Most realtors charge commission fees based on property sale price. Some realtors do not charge fees if the transaction is closed.
The National Association of Realtors(r) (NAR), offers many different types of real estate agents. NAR requires licensed realtors to pass a test. Certified realtors are required to complete a course and pass an exam. Accredited realtors are professionals who meet certain standards set by NAR.