Anyone who wishes to help their neighbors buy, rent and sell property is well-suited for becoming a real estate agent. Although getting your Arizona realtor license can seem daunting, once you have the right tools, you can be on your own way to a new job in no time.
How to Become a Real Estate Agent in Arizona
To become a licensed Arizona real estate agent, you must first complete the 90-hour prelicensing and 6-hour contract writing courses with an approved school. This course will help you pass your state exam in no time and earn your real estate licence.
You will also need to associate with a realtor before you can apply and become a licensed sales representative. It is important to choose the right realty brokerage for you.
Approved AZ Real Estate Schools
There are many schools that offer real estate education in Arizona. Some schools only offer online courses, but others offer classes in person. It is a good idea to search for a Arizona real estate school that offers both online and in-person courses. This will help you save time and money.
American Realty Academy
This top-rated real estate school is an excellent choice for anyone interested in obtaining their Arizona license. This school is unique in its class format and provides top-notch support to ensure that you are able to learn the material quickly.
You will find a lot of audio lectures and videos, with written transcripts breaking down the information into individual lessons. This is a great way to ensure that you fully understand each concept and definition before taking the exam.
You can also find a range of additional materials, such as a trust fund administration course that is approved by Arizona Department of Real Estate. This course will cover the requirements for trust funds handling, storage and record keeping as well as disciplinary actions.
What to Expect when you take the AZ Real Estate License Exam
The Arizona realty license exam is broken into two parts. One section covers general realty knowledge and state-specific laws, while the state portion focuses on Arizona laws. The first part will be administered in a testing center while the second is via computer.
Arizona's realty license exam will have you answering 180 multiple choice questions. Each question will take approximately 300 minutes. You'll receive either a pass or fail result.
On the day of your exam, you will need to bring two forms valid identification. For the exam, you will need to bring a calculator as well as any other documents.
FAQ
What is a reverse loan?
A reverse mortgage allows you to borrow money from your house without having to sell any of the equity. It allows you access to your home equity and allow you to live there while drawing down money. There are two types: conventional and government-insured (FHA). You must repay the amount borrowed and pay an origination fee for a conventional reverse loan. If you choose FHA insurance, the repayment is covered by the federal government.
How do I eliminate termites and other pests?
Termites and many other pests can cause serious damage to your home. They can cause damage to wooden structures such as furniture and decks. This can be prevented by having a professional pest controller inspect your home.
How much will my home cost?
This can vary greatly depending on many factors like the condition of your house and how long it's been on the market. Zillow.com shows that the average home sells for $203,000 in the US. This
Statistics
- 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)
- 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)
- Based on your credit scores and other financial details, your lender offers you a 3.5% interest rate on loan. (investopedia.com)
- 10 years ago, homeownership was nearly 70%. (fortunebuilders.com)
- Private mortgage insurance may be required for conventional loans when the borrower puts less than 20% down.4 FHA loans are mortgage loans issued by private lenders and backed by the federal government. (investopedia.com)
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How To
How to become real estate broker
To become a real estate agent, the first step is to take an introductory class. Here you will learn everything about the industry.
Next, pass a qualifying test that will assess your knowledge of the subject. This requires studying for at minimum 2 hours per night over a 3 month period.
You are now ready to take your final exam. To be a licensed real estate agent, you must achieve a minimum score of 80%.
All these exams must be passed before you can become a licensed real estate agent.