There are many steps to follow if you want to be a licensed Arizona real estate agent. Depending on your qualifications, it may take you six months or more to complete all of the steps and receive your license.
Step 1: Get ready to take the exam
Attending an approved school for the state licensing examination is the first step to becoming a licensed agent in real estate. There are many options. Online schools, classroom-based courses and even online programs. The curriculum should cover the basics of Arizona law and ethics.
You should ensure that you select a school which has a high passing rate and offers study materials and practice tests. There are also online and weekend cram programs offered by some schools.
Arizona Pre-Licensing School
Arizona requires that you have a high-school diploma or GED certificate in order to take the exam. You also need to meet certain prerequisites. These include being at least 18 years old and having a residence in the state.
Step 2: Get Fingerprint Clearance Card
Before taking the Arizona real estate exam, you must complete a background check. Arizona Department of Real Estate (ADRE), will review your criminal records and other records to determine if or not you are qualified for a license. In the meantime, you will need to obtain a fingerprint clearance card issued by the Arizona Department of Public Safety.
Once you have obtained your fingerprints, it is possible to visit a secure location to have them processed. The process can take eight weeks. Therefore, it's important to start the application process soon after you have passed your exam.
You can also register for a background search at the ADRE Website. The background check provides information about your criminal records and any disciplinary actions.
Step 3: Become Affiliated with a Broker
After passing the exam and passing the education requirements, you will need to be associated with a brokerage. This is often referred to as a "sponsoring brokerage." They will guide you through the industry, mentor you and help you find clients.
Being a real-estate agent is a rewarding and challenging career. However it does require dedication and hard work. You must know your market and how to market yourself.
Arizona Pre-Licensing Schools
You must complete 90 hours of education in an accredited and state-approved professional school to earn your real estate license. The Arizona Department of Real Estate website has information on costs and classes.
While the cost of a school for real estate will vary by person, it is possible to compare prices at various schools and find a fair price. Some schools even offer free trials so you can feel the quality of their education before making your final choice.
FAQ
What should you look out for when investing in real-estate?
First, ensure that you have enough cash to invest in real property. If you don't have any money saved up for this purpose, you need to borrow from a bank or other financial institution. You also need to ensure you are not going into debt because you cannot afford to pay back what you owe if you default on the loan.
You also need to make sure that you know how much you can spend on an investment property each month. This amount should include mortgage payments, taxes, insurance and maintenance costs.
You must also ensure that your investment property is secure. It would be a good idea to live somewhere else while looking for properties.
Can I get another mortgage?
Yes, but it's advisable to consult a professional when deciding whether or not to obtain one. A second mortgage is usually used to consolidate existing debts and to finance home improvements.
How much money will I get for my home?
It all depends on several factors, including the condition of your home as well as how long it has been listed on the market. According to Zillow.com, the average home selling price in the US is $203,000 This
Statistics
- Over the past year, mortgage rates have hovered between 3.9 and 4.5 percent—a less significant increase. (fortunebuilders.com)
- The FHA sets its desirable debt-to-income ratio at 43%. (fortunebuilders.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)
- 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)
- 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)
External Links
How To
How to find an apartment?
When moving to a new area, the first step is finding an apartment. This involves planning and research. This involves researching neighborhoods, looking at reviews and calling people. There are many ways to do this, but some are easier than others. The following steps should be considered before renting an apartment.
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Data can be collected offline or online for research into neighborhoods. 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.
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Find out what other people think about the area. Yelp. TripAdvisor. Amazon.com all have detailed reviews on houses and apartments. You can also check out the local library and read articles in local newspapers.
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Call the local residents to find out more about the area. Talk to those who have lived there. Ask them what the best and worst things about the area. Ask them if they have any recommendations on good places to live.
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Check out the rent prices for the areas that interest you. If you think you'll spend most of your money on food, consider renting somewhere cheaper. However, if you intend to spend a lot of money on entertainment then it might be worth considering living in a more costly location.
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Learn more about the apartment community you are interested in. It's size, for example. How much is it worth? Is the facility pet-friendly? What amenities does it have? Is it possible to park close by? Are there any special rules for tenants?