You will need to take two courses in real estate in order to become a licensed Arizona real estate agent. The 90-hour first course covers basic real estate law, general practices, and Arizona-specific laws. You will also need six hours of contract writing principles training. The real estate exam will require you to take both the contract writing and math courses. Passing the first class is not enough. The math principles of the 90-hour course are often difficult for students. 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
To obtain an Arizona real estate license, you must complete 90 hours pre-licensing instruction. This course covers real estate law and ethics. The course is broken into 45 two-hour sections and has a proctored final exam. Passing the exam with a score of 75% or more is required. You will need to arrange travel for the test, which is usually held at a real-estate school or testing center. You will receive a certificate after you have completed the course.
There are many courses online to choose. Pre-licensing education is easy with the PrepAgent course. The course includes audio lessons, practice tests and videos. PrepAgent gives Fit Small Business readers a 20% discount. You can either find a course at an accredited school or enroll online.
Exam
If you want to become a licensed real estate agent in Arizona, you must pass the state real estate license exam. The exam consists of 150 multiple choice questions. It should take at least three hours to complete. After completing the exam, you will need to apply for your license. The state requires that you apply for your license and submit required documents to the ADRE within one calendar year of passing the exam.
There are many ways to prepare for the Arizona real estate license exam. Pearson VUE serves as the official administrator. Practice tests are a great way of determining what you should be focusing on. To familiarize yourself with the test questions, you can also take a practice exam. There are plenty of online video prep courses that can help you prepare. This is the best way for you to study for the exam. You should make sure you select a test prep course that covers the material you will be tested on.
Fees
Renewing an Arizona real estate license requires 24 hours of renewal credit, which must include 18 hours in 6 required classes. The Arizona Real Estate Commission will approve 24 hours of the remaining credit. You can't duplicate the course number or type. Renewals are allowed up to 90 days before expiration. It costs $50 to renew a license, and can be completed by completing all requirements.
To be eligible for the license fee, you'll also need to pay membership dues. Membership in these associations will likely qualify as a tax break, but can be a significant expense for many Realtors. It also depends on how many associations you belong to - if you're part of more than one, the cost can be substantial. You can join multiple associations in Arizona. This includes the state real estate boards.
Evidence of residence
In order to be eligible for an Arizona real-estate license, an applicant must prove residency. This typically includes documentation from immigration, a copy a social security card, and proof of education. A non-resident applicant can skip this step but must submit proof that they have been educated and a fingerprint clearance card. Because fingerprint clearance cards can take 8-10 weeks to arrive, applicants should allow ample time.
The 96-hour course covers Arizona's realty laws policies and procedures. The course can be taken online, or in a class. The course can take from one to three months. Once the course is completed, you must wait at most one year before you apply to sell real property. You must be at minimum 18 years to apply. If you are a minor, you may not be able to obtain a license in Arizona.
FAQ
What should I look for in a mortgage broker?
People who aren't eligible for traditional mortgages can be helped by a mortgage broker. They shop around for the best deal and compare rates from various lenders. Some brokers charge a fee for this service. Other brokers offer no-cost services.
How can I get rid of termites & 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. You can prevent this by hiring a professional pest control company that will inspect your home on a regular basis.
How much should I save before I buy a home?
It depends on how long you plan to live there. Save now if the goal is to stay for at most five years. However, if you're planning on moving within two years, you don’t need to worry.
What should you consider when investing in real estate?
It is important to ensure that you have enough money in order to invest your money in real estate. You can borrow money from a bank or financial institution if you don't have enough money. It is important to avoid getting into debt as you may not be able pay the loan back if you default.
Also, you need to be aware of how much you can invest in an investment property each month. This amount must be sufficient to cover all expenses, including mortgage payments and insurance.
You must also ensure that your investment property is secure. It would be best if you lived elsewhere while looking at properties.
Can I buy my house without a down payment
Yes! There are many programs that can help people who don’t have a lot of money to purchase a property. These programs include FHA, VA loans or USDA loans as well conventional mortgages. Check out our website for additional information.
What flood insurance do I need?
Flood Insurance covers flooding-related damages. Flood insurance protects your belongings and helps you to pay your mortgage. Learn more about flood coverage here.
How can I determine if my home is worth it?
If you have an asking price that's too low, it could be because your home isn't priced correctly. You may not get enough interest in the home if your asking price is lower than the market value. Get our free Home Value Report and learn more about the market.
Statistics
- 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)
- This seems to be a more popular trend as the U.S. Census Bureau reports the homeownership rate was around 65% last year. (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)
- 10 years ago, homeownership was nearly 70%. (fortunebuilders.com)
- The FHA sets its desirable debt-to-income ratio at 43%. (fortunebuilders.com)
External Links
How To
How to buy a mobile house
Mobile homes are houses built on wheels and towed behind one or more vehicles. They were first used by soldiers after they lost their homes during World War II. People today also choose to live outside the city with mobile homes. These houses come in many sizes and styles. Some houses are small, others can accommodate multiple families. Some are made for pets only!
There are two main types mobile homes. The first type is produced in factories and assembled by workers piece by piece. This process takes place before delivery to the customer. A second option is to build your own mobile house. First, you'll need to determine the size you would like and whether it should have electricity, plumbing or a stove. Next, ensure you have all necessary materials to build the house. Finally, you'll need to get permits to build your new home.
You should consider these three points when you are looking for a mobile residence. First, you may want to choose a model that has a higher floor space because you won't always have access to a garage. A model with more living space might be a better choice if you intend to move into your new home right away. Third, you'll probably want to check the condition of the trailer itself. You could have problems down the road if you damage any parts of the frame.
It is important to know your budget before buying a mobile house. It is important that you compare the prices between different manufacturers and models. Also, look at the condition of the trailers themselves. Many dealerships offer financing options but remember that interest rates vary greatly depending on the lender.
An alternative to buying a mobile residence is renting one. Renting allows you to test drive a particular model without making a commitment. Renting isn't cheap. Most renters pay around $300 per month.