Getting your real estate license is a great way to grow your real estate career. Whether you want to invest in homes yourself or you want to help others grow their real estate portfolio, having your real estate license helps increase your income and real estate capabilities.
Just how hard is it to get your license? We dive into the process below.
What Are The Requirements?
All applicants must meet the basic requirements:
- Be of age, typically 18 – 21 years old depending on the state
- Pass a background check and fingerprinting
- Meet all specific state requirements (you’ll need a reciprocity agreement if you switch states)
- Get the required education
- Pass the real estate exam
What Education Is Required?
Each state has different education requirements. Most states offer in-person and online courses. If you need a more self-paced course if you’re working full-time, the online option is best for many people, but make sure your state offers it.
Pay close attention to the number of educational hours required. States like New Mexico require 30 hours while Texas requires 200 hours. Most states fall somewhere in between these two.
How Long Should You Study For The Real Estate Exam?
In addition to the classroom education and quizzes within the course, you must pass the real estate exam. The number of questions, the passing grade, and requirements vary by state. Your studies throughout the required courses prepare you for the exam, but set aside plenty of study time yourself to ensure you pass the exam.
Each state has different requirements regarding how many times you may take the test if you don’t pass the first time. Some states allow two retakes, while others allow up to four. Of course, everyone wants to pass it the first time to get their career going.
Is The Real Estate Exam Difficult?
The real estate exam is an in-depth exam. You must demonstrate you fully understand real estate, financing, and how homeownership affects the individuals you’ll be helping. This is one of the largest investments most people make and one that can make or break their financial well being.
Preparing for the exam is important and should include:
- A concrete study plan – Don’t just assume you’ll study enough, plan it. If you can’t manage your own study time, purchase a test preparation kit so you have a tried-and-true plan to follow.
- Study what’s important – Check your state’s outline of the real estate exam so you know which sections have the most questions so you focus your time where it counts.
- Not procrastinating – This isn’t college where you can cram for an exam the night before. With a 70 percent pass rate, you can see that people fail the real estate exam. Prepare steadily and avoid cramming to get a thorough understanding.
How Long Is The Real Estate Exam?
Each state differs, but on average you’ll have 3 hours and 15 minutes to complete the exam. Most states’ exams contain 60 – 100 questions and have a pass rate requirement of 70 percent on average.
How To Get Help To Pass The Exam And Get Your Real Estate License
Your course instructor should provide support to help you prepare for the real estate exam, but sometimes we need more.
A few common resources applicants use include:
- Talking with existing agents – Getting help from those with experience and that have taken the test is invaluable. They can show you where they struggled and/or succeeded so you can create a plan that works for you.
- Create or find a study group – Thousands of others are likely taking the exam around the same time as you. Start with the students in your course or look up local groups on social media to find people that you can study with and help each other succeed.
- Take practice exams – Ask your instructor if they offer practice exams. If not, there are many options online, just make sure you take one for your state.
Is it hard to get your real estate license? That depends. If you love studying and taking courses, it can be fun, especially if you have a passion for real estate. It does require hard work, perseverance, and planning, so make sure you prepare yourself for what lies ahead and you too can become a successful real estate agent.