What A Real Estate License Can Do For You
Becoming a professional real estate agent is a combination of investing time in pre-licensing education, passing the state requirements and national real estate licensing exam, and finding a broker and resources to help you kick start your real estate career. Note that each step in the way of getting your license may vary slightly by state, so it’s important to check your state’s requirements.
Can You Use A Calculator On The Real Estate Exam
Yes, you may use a calculator on the real estate test in most states. However, because these criteria differ based on your area, it’s critical to double-check the details ahead of time.
Some states allow you to bring graphing calculators, while others just allow basic calculators. Some states don’t allow you to bring your own calculators and will offer calculators to test takers when they arrive.
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Anyone who wants to legally represent a home seller or buyer in the process of buying or selling real estate must obtain a Real Estate License. And the very first step in holding your own Real Estate License is passing the Real Estate Exam. You definitely need to practice a lot in order to pass the test on the first go. That’s also our goal when making FREE REAL ESTATE PRACTICE EXAM – a free browser/web platform that helps you pass the Real Estate exam much easier!
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Everything you need to know to earn a Real Estate license!
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What Not To Bring
The testing center can provide you with a list of prohibited items. Generally speaking, you will not be allowed to have any electronic devices, books, reference material, or other personal items in the exam room while you are taking the test. A good rule of thumb is also that less is usually better. If it is not necessary, dont bring it. Some testing centers may have locked storage lockers for personal items, but others may not. You can check directly with the testing center before the day of your exam if you have questions about particular items.## Best Ways to Study for the Real Estate License Exam
What Is The Real Estate Exam Pass Rate By The State
While the pass rate differs by state and exam, all real estate exams have one thing in common: many examinees fail on their first attempt. The overall pass rate on the state’s real estate exams was only 58.94 percent in the past two years, according to the Texas Real Estate Commission . According to the Florida Department of Business and Professional Regulation , just 43% of real estate test candidates pass the exam statewide. California, like the rest of the country, has a pass rate of roughly 50%.
These states aren’t outliers in any way. The final line is that a significant number of people fail the real estate test. Is this to say that the real estate test is difficult? In some ways, it does, but it’s also a lot more difficult. The real estate exam is a test of your knowledge. It does not put candidates to the exam on facts that they will already know. To put it another way, you must study in order to pass this exam.
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Brokerage Responsibility And Agency Management
This section of the Real Estate License Exam makes up approximately 17% of the whole exam and covers knowledge of real estate trends and developments, fair practice laws, math calculations, and real estate forms. It also includes items specific to running a real estate agency, such as agency creation and closure, and commissions and fees.
Where Do I Take The Real Estate Exam
There will be authorized locations and testing facilities where you may take the real estate licensing exam depending on your state. Your local real estate commission will supply you with those specifics after you apply to take the exam.
Hope you find the above information about the real estate FAQs that we gathered helpful for you.
Georgia Real Estate Agent Exam
Need of a License: A real estate salesperson must be licensed by the state of Georgia to represent clients in the sale or purchase of real estate that is located in Georgia. Reciprocity licenses are also available for certain candidates who already possess a valid real estate license in another state.
Who Grants a License: Licenses are granted by the Georgia Real Estate Commission .
Qualifications to receive a License: A candidate must complete 75 clock hours of study at a GREC-approved real estate school . Search schools here. All candidates must pass a state exam, submit a full set of fingerprints, prove legal presence and pass a background check. Candidates are permitted to take the state exam at age 17, but all licensees must be at least 18. Candidates who possess a valid real estate license in another state may be eligible for a waiver for a portion of the education. For more information about qualifications, see the Real Estate Salespersons Requirements page on the GREC website.
The exam contains 100 national questions and 52 state specific questions. A candidate must correctly answer 109 questions to achieve a passing score. The national questions test the candidate’s knowledge of general real estate concepts, including the following subject areas:
Agency Relationships and Contracts
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Before you qualify to take the exam, you will be required to take a number of hours of pre-licensure classes.
This curriculum is meant to help prepare you for your state-specific exam, so make sure you keep these materials and continue to study them after the course has been completed. Beyond that, it is definitely necessary that you use the available free real estate practice exam and study resources available online.
What Is A Real Estate License
A real estate license, issued by state governments, enables agents and brokers to represent a home seller or buyer in the process of buying or selling real estate.
A real estate license gives realtors the legal ability to sell, broker, or rent real estate to prospective tenants and buyers on behalf of a real estate brokerage. Thus, in order to legally work in real estate, you definitely need to procure a real estate license in the states where you want to work, with the requirements varying from state to state.
Classes are available in person and online, but your courses and school must be approved by your state’s real estate licensing authority.
What Is On The Real Estate Exam
It depends on your state. Every state requires its own portion of real estate exam questions based on state laws and regulations. In addition to your state’s specific portion of the exam, you will also be tested on national real estate topics and real estate math.
To learn more about what to expect on your state’s real estate exam and the real estate license requirements, find your state in our Real Estate Exam Info.
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Incorrect answer. Please choose another answer. A homeowner has a mortgage with a fixed interest rate. Under what circumstances would her payments change? None the payment will not change over the life of the loan. The property taxes go up or down. The cost of homeowners insurance goes up or down. Either b or c. Here, the test question states that the homeowner has a mortgage with a fixed interest rate. Especially when interest rates are low, a mortgage with a fixed interest rate is appealing to borrowers because the interest rate and the amount of the monthly loan payment will not change over the entire term of the loan.
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Other Free Real Estate Exam Resources
There are many online resources available for those looking to prepare for the real estate exam. Many of these resources can be found absolutely free online, such as:
|Review these 90 terms to prepare for your real estate exam.||Quizlet|
|Review this in-depth study guide for your real estate exam.||Master Real Estate|
|Review 85+ flashcards on various real estate terms.||Study Stack|
|Review 650+ real estate terms from the glossary of a real estate text book.||Study Stack|
Georgia Real Estate Exam Practice Questions
Ready To Take Your Real Estate Exam
If you’re ready to take the real estate exam, but are looking for one last opportunity to study, PrepAgent offers Real Estate Crash Courses over the weekend. These 3-4 hour virtual cram sessions give you a live review of frequent real estate exam topics as well as interactive time with an experienced tutor.
Georgia Real Estate Exam Prep
- We filtered out the exact information you need to know for the state exam.
- You can jump between lessons as you wish.
- The course summarizes the key concepts you learned throughout the Georgia Real Estate License Online Course.
- The Georgia Real Estate Exam Prep course essentially acts as the “Cliff Notes” for the National and State exam.
- This course also includes 6 practice tests meant to serve as mock exams.
About The Real Estate License Exam
Becoming a real estate agent can be a rewarding and lucrative career move. While there are many steps to becoming a licensed real estate agent, one of the biggest hurdles is passing the Real Estate License Exam. This exam varies from state to state to reflect differences in the state laws related to real estate transactions and mortgage lending. However, there are many similarities no matter where you take the exam.
Prior to taking the exam, you must complete your required pre-licensure education requirements. The hours required may also vary from state to state, but generally range anywhere from 20 to 200. After this requirement has been met, you can register for the Real Estate License Exam in the state in which you intend to practice professionally. There are multiple testing companies that offer the exam, including Pearson-Vue, PSI, and AMP.
The exam itself is generally broken into two sections. The longer section covers information that would have been covered in your pre-licensure class this section is usually very similar across all states. The second section is shorter and covers real estate laws applicable to the state you will be serving. Otherwise, this exam is not divided into sections by topic, but we have divided our materials into six sections for study purposes.
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B is incorrect. In contrast to a special agency, a general agent typically has a number of duties to perform. This type of agency is usually used for ongoing businesses. The general agent does have a limited authority to bind the principal. One frequently-tested example of a general agency is a property manager with the authority to, for example, find and sign well-qualified tenants. C is incorrect. An implied agency can be created unintentionally or by accident. It may be created accidentally through the speech or actions of the agent e. This answer choice is incorrect because, here, both parties intended to enter into an agency relationship and formalized that intention in a written listing contract. D is incorrect. A dual agency occurs when the agent represents more than one party to the transaction e.
Property And Ownership Laws
When ownership is changing hands, it is a realtors responsibility to make sure everything is done by the book. The Property and Ownership Laws section accounts for 11-15% of the exam, and covers such concepts as property classes and characteristics, types of ownership, government and personal rights to land, water rights, and environmental hazards and regulation.
How Long Is The Real Estate Exam
The real estate test might range anywhere from 90 minutes to three hours, depending on where you reside.
Each state’s real estate test takes different amounts of time and has different criteria, so make sure to verify the length of your state’s exam ahead of time. The real estate test in Texas, for example, lasts 150 minutes, but the exam in New York lasts only 90 minutes.
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With an average real estate salary averaging $47,610 in Georgia, it is no wonder why real estate has become such a popular career choice. Depending on experience, real estate agents can make a salary of anywhere from $30,000 to over $100,000.
To become a real estate agent in Georgia and represent buyers and sellers in the real estate transaction process, a candidate must complete the following steps, including passing the Georgia Real Estate Exam.
Learn more about how to get a real estate license in Georgia.
Take Practice Tests For The Real Estate License Exam
The Real Estate License Exam is entirely multiple-choice, and it lends well to practice exams. Taking these practice exams will help you to become familiar with the exams subject matter and the types of questions you will encounter on your testing day. Taking practice tests is also a great way to help you identify areas where you should spend more time studying the material. This process can help you feel completely prepared to get a great score on testing day.
What Kind Of Questions Are On The Real Estate Exam
As you guys know, the real estate exam is broken up into a national section and a state section. The real estate exam practice exam questions below are for the national portion. For the state portion, do not trust ANY real estate exam prep website as these questions change all the time due to State laws.
What are the four kinds of real estate ownership?
Tenancy In Severalty
What are the 6 Fiduciary Duties of a Real Estate Agent?
The primary purpose of Truth in Lending is to:
Truth in Lending is intended to do away with deceptive financing tactics.
What is the difference between a Grantor and A Grantee?
The grantor gives, sells, or transfers the property to the grantee. The grantee receives the property.
What is the difference between a Mortgagor and a Mortgagee?
The mortgagor is the borrower. The mortgagee is the lender. The borrower gives a mortgage to the lender. The lender gives money to the borrower.
The above 5 questions are a sample of what you will see on your real estate exam. We interview over 500 test-takers per year so our company has a much better knowledge of what questions you will find on your real estate exam. Keep this in mind when you are practicing!
What Is On The Georgia Real Estate Exam
The Georgia Real Estate Salesperson Examination consists of 152 total questions. To pass, you need to answer 75% of the questions correctly.
The Exam is broken up into two distinct sections, the National Portion and the State-Specific portion. Students will need to pass each of these sections in order to pass the exam.