Here are 10 tips on how to study for the real estate exam:
— No matter how much or little you pay for a seminar, it’s all up to you. No diet works without exercise and discipline and no real estate investing technique works without your hard work. If you are just beginning, stay away from the expensive seminars until you are sure it is for you.
How long should I prepare for the real estate exam? As long as it takes for you to be able to pass the practice exams that are available. If you are good at test taking, it won’t take long — I probably did 12 hours for my first broker’s exam and then maybe 4 to 5 total for the others (in addition to the required course work of course.)
How Much Does Real Estate School Cost? On average, real estate school costs between $100 and $900, though your costs will vary by state and school. Online real estate courses are often priced a little differently than on-campus classes, and some are available in a video-only format, which can save you money on textbooks.
The real estate exam is the last step needed to get your real estate license and become an agent.
During study hours, stay focused. Clear your schedule and free yourself from any distractions. If this means switching off your phone or finding a nice quiet place to study, then do that!
Property Valuation and Financial Analysis (14% of Exam)
The reason why study schedules are so effective is that it’s a commitment to studying. Studying without a schedule will make you feel lost and it will make studying hard. When something is hard, we tend to procrastinate to avoid doing it.
If you study for long hours, you’re prone to fatigue and frustration. Once you overdo your study sessions, you may not be able to absorb all the information you’re reading.
In the state of California, there are 7 real estate categories that appear on the state exam. They are:
Studying alone has its benefits. You work at your own pace, you take your time, and you can focus on the material you want to focus on.
Education is for you, so make sure that you use all the resources available to you, to get the best learning experience, and to elevate yourself to the next level of success.
When you are taking online classes, the responsibility is on you to be successful. Here are a few tips to get the most out of online classes.
Close any other windows on your computer. Silence your phone. Make sure you are able to put your full attention on the course for your scheduled time. Phone calls can wait. Texts can wait. You can answer those things after your study time is complete. Make it a hands on experience.
When dealing in real estate, you’ll need to be very familiar with laws that affect property and ownership. There is a lot of “legalese” involved, so use this study guide to review the terms and requirements of legal property ownership before you take the Real Estate Exam.
The real estate business is mostly governed by the execution of and agreement to contracts. This study guide will provide you with some of the basic knowledge you’ll need to answer questions concerning contracts on the Real Estate Exam.
To make the most out of your study time it helps to set goals. This could be goals on how much material you want to work through in a certain session or even goals around how focused and attentive you’ll be when you’re at your workspace studying. At the end of your session, take a minute to review how well you did with your goals and set some new ones for your next study session. If you don’t monitor your progress it’ll be harder for you to know if you’re improving.
1. Use a flashcard app. If you’re short on time, a flashcard app on your phone can help you study on the go whenever you have small pockets of time. Use it during your commute (if you take the train), while you’re waiting in line or even when you catch yourself absentmindedly looking at your phone.
Studyblue: This app has a crowdsourced study library. You can make your own flashcards, share them, and search for flashcards others have made. The free version of the app, available for iPhone and Android, allows you to create your own quizzes and work without wifi.
You’ll want to start your journey to becoming a real estate agent with classes from an accredited real estate licensing school — which is the first thing to focus on when trying to determine “what are the classes I need?” To become a real estate agent, you must take the pre-licensing course no matter what state you live in.
Before you head to the testing center to take your licensing exam, many people find it helpful to take an exam preparation class. While the pre-licensing courses satisfy your state’s requirements, an exam preparation course will help you study specific material that will be on your test.
Some states require you to take additional classes within months of obtaining your license that will prepare you for your first license renewal. These courses typically help you understand new laws and regulations in real estate and assist with your business planning.
Each state has different rules about the amount of continuing education classes required for reach real estate agent, but it’s important to know that you’ll most likely have to factor in some continuing education each year.
Before taking a real estate exam prep course, you must finish your state-mandated pre-licensure classes. Some schools offer package discounts to purchase pre-licensure classes and an exam prep course.
The average Florida real estate exam pass rate is only 47% for first-time test takers. 1 Typically, you have two years from the time you finish your pre-licensure classes to take the real estate exam.
If you don’t pass your salesperson or broker exam the first time you will get a full refund. They’re ideal for the student on a budget who has already taken the pre-licensure courses and just needs to take the exam prep course before the real estate exam.
Real Estate Express is an online-only school offering exam prep courses, post-licensing classes, and continuing education classes. All classes are completed at your own pace with instructor support available for questions. Their online platform can be accessed 24/7, is easy to use, and has FAQ videos, all of which contribute to making Real Estate Express our choice for the most accessible exam prep course.
Exam Scholar focuses solely on exam prep courses and doesn’t offer continuing education or pre-licensure courses. Its exam prep courses are good for six months but can be completed in a weekend or spread out over the course of weeks or months depending upon what your schedule allows. The courses are self-paced, online-only, and include more than 25 practice exams, flashcards, exam hints and secrets, and easily downloadable content. They use what they call "Immersion Technology" to simulate a real exam environment to prepare you for the big day.
Exam prep courses are designed to help people prepare for their tests and can boost pass rates to over 95%. 2 The best courses are effective (helping most students pass their tests), accessible (with materials they can refer back to), and have great reviews, without being overly costly.
Mbition, under its former name, has positive reviews, and students like the flexibility, affordability, and that the courses are good career preparation. 7 The exam prep courses are all self-paced and can be completed over a weekend, or the more in-depth prep may take a week or more to complete, depending on your schedule.
As you study finance, you learn the basics of economics, financial reporting and more. You discover how to predict future market trends and what investments are worth making. You can calculate your spending and predict how much profit you will generate in the following months.
An accounting degree is another wise choice if you are serious about entering the world of real estate. Your accounting classes teach you how to review and manage ledgers. You will discover how to process debit and credit card transactions in addition to other payment methods. While you study your class material, you will learn different account codes and what they mean. Accounting degree programs show you how to manage petty cash and regulate a company’s budget.
Getting a degree in psychology is a great step in the right direction when you want to make yourself stand out as a real estate agent. You learn the basics of human behavior and why people do the things they do.
Depending on your state, you must complete between 60 and 90 hours of real estate training to begin. Most real estate classes cover soft skills, such as time management. You also learn real estate basics and discover how to list, price and sell properties. Qualified courses go over the laws related to real estate so that you don’t find yourself on the wrong side of a legal dispute. If you would like to become a real estate broker, most states require you to have several years of experience as an agent and to pass an additional exam.
When the seller accepts an offer, you review the contract and ensure that everything is in order. Not only do you help sellers close deals, but you also draft and review contracts for those looking to rent their property to someone else. Once you begin working in this field, you oversee almost every aspect of property sales and rentals. Some people go on to become real estate brokers for an income boost.
When you study computer science, you learn how computers operate and the most likely problems they will encounter. You learn how to set up and manage printers and the other devices required to keep any real estate office running at its best. Computer science programs show you how to set up and maintain local area networks and wide area networks. You can then make sure you and your team have the required tools to keep your real estate operation online, and you safeguard your profitability along the way.
As a real estate agent, you meet with clients looking to sell their homes or find renters for their property. Based on the condition and location of the property, you help set a price depending on the local real estate market. Some of your clients might disagree with the price you recommend and want to name their own price. You can tell them why you came to your conclusion, but the client has the final say in the selling price.