To become a licensed Washington real estate agent, residents must pass the State Exam. But, Pre-licensing education is required before you can sit for the Exam. AgentAdvice offers free courses.
Pre-licensing Education
There are many choices when it comes to pre-licensing in Washington. You can take some of these courses online while others require that you attend a classroom in person. No matter which one you choose to take, it is essential that it be approved by Washington Real Estate Commission. While many students prefer to attend live classes, online courses are ideal for those who want to take the course at their own pace. One of the major advantages of online courses is that students can complete a 90-hour course in less than one week.
OnlineEd offers Washington Real Estate Training Courses that include helpful videos, practice tests and simulated exams. Course materials can be downloaded, and the school is one of the few schools that offers course materials in e-pub format, which is perfect for people with e-readers. OnlineEd offers one prelicensing course package in addition to providing comprehensive training courses. The Washington Real Estate Pre-Licensing Training Package includes an online course, study schedule, digital flashcards, and a test simulator.
Exam requirements
There are many subjects covered in the Exam requirements for Wa real-estate licensing. The exam can be challenging, so you must prepare thoroughly. Study materials can be found online. Also, practice exams are an excellent way to learn the format of the exam. You can also study with a group. Studying alongside a buddy can help to motivate and keep you on track. You can even quiz each other on flashcards to make study sessions more effective.
Registering with PSI (the national testing vendor) is the first step. To create an account at PSI, you will need to upload proof of completion from an accredited education provider. You will then be given access to PSI's scheduling portal.
Background check
First, you need to do a background search if you want to become a Washington real-estate broker. While it may seem daunting, the process is actually quite simple. Washington requires that all applicants take a 90-hour course. Then, they must pass a test that covers both the national and state portions. The exam is multiple choice with 130 questions. One hundred thirty of the questions are nationally oriented, and two are state-specific. Passing the test will require a score of 70% and higher.
The background check will reveal whether the applicant has a history of any criminal activity. All documents are required to confirm identity. Many applications fail simply because the applicants fail to provide all the required documents or answers. This is why a background check won't be valid without documents.
Cost
You must complete a 90-hour course before you can be licensed to become a real-estate agent. This course can run between $260-$500. The state exam is $138. Once you pass the test, you can begin your licensing process. A $43 background check is also included in the licensing fees. Although the fee for membership to the MLS is not included in your license, it is mandatory. You must also pay an additional $168 for a NAR membership, which is required for practicing real estate in Washington.
The state of Washington requires all licensed agents to take at least 30 hours of continuing education every two years. For each license type, the requirements for continuing education are different. However, continuing education is an important part of acquiring a Washington real estate license.
FAQ
Should I rent or own a condo?
Renting is a great option if you are only planning to live in your condo for a short time. Renting allows you to avoid paying maintenance fees and other monthly charges. However, purchasing a condo grants you ownership rights to the unit. You are free to make use of the space as you wish.
How can I repair my roof?
Roofs can burst due to weather, age, wear and neglect. For minor repairs and replacements, roofing contractors are available. Contact us to find out more.
How many times can I refinance my mortgage?
This will depend on whether you are refinancing through another lender or a mortgage broker. Refinances are usually allowed once every five years in both cases.
Should I use a broker to help me with my mortgage?
If you are looking for a competitive rate, consider using a mortgage broker. A broker works with multiple lenders to negotiate your behalf. Some brokers do take a commission from lenders. Before signing up for any broker, it is important to verify the fees.
What flood insurance do I need?
Flood Insurance covers flood damage. Flood insurance helps protect your belongings and your mortgage payments. Learn more about flood coverage here.
What is the average time it takes to sell my house?
It all depends upon many factors. These include the condition of the home, whether there are any similar homes on the market, the general demand for homes in the area, and the conditions of the local housing markets. It may take up to 7 days, 90 days or more depending upon these factors.
Statistics
- 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)
- 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)
- The FHA sets its desirable debt-to-income ratio at 43%. (fortunebuilders.com)
- 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)
External Links
How To
How to Find an Apartment
Moving to a new place is only the beginning. This process requires research and planning. This involves researching and planning for the best neighborhood. This can be done in many ways, but some are more straightforward than others. Before renting an apartment, you should consider the following steps.
-
Researching neighborhoods involves gathering data online and offline. Online resources include Yelp. Zillow. Trulia. Realtor.com. Other sources of information include local newspapers, landlords, agents in real estate, friends, neighbors and social media.
-
See reviews about the place you are interested in moving to. Yelp, TripAdvisor and Amazon provide detailed reviews of houses and apartments. You can also find local newspapers and visit your local library.
-
Make phone calls to get additional information about the area and talk to people who have lived there. Ask them about what they liked or didn't like about the area. Ask for their recommendations for places to live.
-
Consider the rent prices in the areas you're interested in. Renting somewhere less expensive is a good option if you expect to spend most of your money eating out. On the other hand, if you plan on spending a lot of money on entertainment, consider living in a more expensive location.
-
Learn more about the apartment community you are interested in. For example, how big is it? What's the price? Is the facility pet-friendly? What amenities are there? Is it possible to park close by? Do you have any special rules applicable to tenants?