[PonchoV8]

Hey Ponjon or anyone else, how difficult was the testing for the real estate license in your state? I know John got his license to retain the 6% commision on his properties. I'm thinking about doing the same thing. I've got a couple I wil sell one day and I will buy a few more as soon as I can over the next few years.
Thanks much, Doug.

[YVEYANT]

It is not that difficult honestly if you study hard and don't miss any classes, I mean any.
I highly recommend taking the course for a short time period so you retain all the info and take the state test right after that if you can manage. My schedule was
Oct. 19th to Oct. 26th Monday to Friday from 9 to 4:30 (1 Hour lunch) after that class was over I had to take a 100 question test in class which was very pressuring because if I failed that one more than twice I believe I would have to take the whole course over again. Thank God I passed it on my first shot. After the class, I studied for a few days till the state exam. State exam was on Novemeber 2nd. All my info was still fresh in my head. I waited for almost two weeks then I got the letter in the mail saying I passed. That is the way I did it and past on my first shot. The state exam beilieve it or not is not as pressuring as the class test because you can fail that one a million times and not have to repeat anything.
Just so you know, you can take the state exam first if you just want to see how you do. I didn't know that until I got to class. If by some miracle you pass it, that is one less pressure on you while you are taking the class, that part will be done already.
My Dad took his class over a period of two or three months and failed because he forgot everything he learned being that it was spread out plus he did not read every answer option being that he was a REALTOR years ago and thought he could just fly throught the test, wrong. Read every answer option before you make your decision, they are tricky. He passed on the second shot after I reviewed with him and realized he was answering the questions before I was even done giving him all the answer choices. Everything I learned was still fresh in my head and it took me a little less than an hour.
I also recommmend having the sample test in the back memorized. In the back of the book you will have a 100 question test sample. I had every question/answer memorized and that really helped me.
Along with the book, your current course facility usually will offer a quick study guide for about $30 which summarizes that entire book and makes for a lot less reading to review. I highly recommend that as it goes through every chapter in a few pages.
I bought the big book in advance and used to read only each chapters summary (one page each) while on the throne as it was the only place I could be alone.
It helped when I got in class. I had an idea what they were talking about and had a jump on the material.
If there is anything else I can do to help, let me know.

[PonchoV8]

Thanks. My aunt is a licensed realtor working for a multi-family specialist. I would've asked her, but her IQ was tested at 168--so I was concerned that it might be easier for her, bookwise anyway. I don't your intelligence, but I know I'm not at 168. I'll assume you're above average, know how to study and were determined to do it right the first time.
I'll see if she still has the books and materials.

Thanks much!

[YVEYANT]

Just came across this post didn't realize you posted.
Try not to concern yourself with a person's IQ in terms of measuring what one is capable of. I feel everyone has a genius within, it just has to be harnessed and discovered what your genius is. In my opinion, emotions such as low self esteem, fear, anger, the need to be right and bitterness is what holds a person's full potential back.

As I mentioned above, if you apply yourself, do not miss any classes and practice the test in the back of the book along with the handbook, you should pass on the first shot. Very important, again as mentioned, if you can work it into your schedule to take the course that is not spread out any longer than a week or two, you will find it much easier to retain the info.

[PonchoV8]

I haven't checked the scheduling of classes yet. I did yrs back and it was only offered during the day 5 days a week. They also had Saturday classes, but obviously that's pretty intensive--which is probably fine.

Thanks.

[Kurt Zimmerman]

Doug,

I could introduce you to a few of the agents around here, then your confidence level would be sky-high when you went for the test.

Good luck on it.

Kurt

[PonchoV8]

If they grade on a curve, I'm in good shape.

[JLHarper]

Doug,
Having held a NC RE License, I would suggest you take a weekend "study" course OR buy the study guide depending on how old you are or whats going on with your schedule.
I was worried my study habits were rusty, so signed up.

They pretty much lay out the test formatt and might even have real questions peppered throughout the guide, at least in NC.

Once you register for the actual test you might get these in the mail from outside study programs (NC did sell list) but not sure of TN rules.

I did this and received the "big envelope" a few weeks later (license).

[Dan Linebarger]

When I took my Brokers exam, the teacher overseeing the exam told the class to not feel bad if we failed. Because, the State was looking at a minimum 70% fail rate. Anything less would result in the test being reconfigured to be more difficult.
I know the educational requirements and continuing education classes are extensive.

[lust4speed]

Pass your test and draw a big target on your chest. Selling your own property is a terrible reason for obtaining a license. A real estate licensee is held to a much higher standard and is open game for anything that goes wrong with their property after the close of escrow. You should also be aware that those big fees for E&O insurance agents pay do not cover their own sales. I owned a Century 21 franchise for 21 years and have been a broker for 30 years with an average of three dozen agents under the business at any time. We never lost a suit, but my legal counsel probably paid off a couple of vacation homes with what he earned representing us over the years. Granted, this was in sue happy California. People can sue for any reason, and if you hold a license and sell your own property you are exposed.

I've seen agents over the years that I was surprised they could find their way to work - and they somehow passed the test. The problem with any state's real estate testing is that it works as a culling procedure rather than a knowledge test. I witnessed people with a two year certificate in real estate fail the test time after time. The commercial real estate schools pay really good money to have questions and answers "very similar" to what is asked on state tests. If you really want to pass any state real estate test, pay a reputable school and let them quiz you with their bank of practice tests. But don't obtain a license unless you actually want to work in real estate.

Also take that 6% and immediately cut it in half between selling and buying agencies. they take out the cut for the brokerage, then deduct fees for E&O and whatever other fees you have contracted for. What you save by selling your own property won't pay for the initial consultation time with the firms attorney.

["Me"]

I agree with Mick above. I bought and sold a lot of property here in Michigan and looked into it. I took the class and passed the test just to do it but never actually sold real estate. Just wanted to know if someone was bs'ing me.

Some states have a loophole if you are a licensed builder you can sell your own propertys, but all of the same legal issues remain. Michigan has such a law. Its designed more for the big tract builders than the small ones like me.

What kind of propertys are you selling down there?

Larry

[PonchoV8]

Thanks, I'll probably just sell by owner or use my aunt and her company. Me, I'm not selling any property right now.

[blackcreekgroup]

Real estate exams can be challenging because they cover property laws, contracts, financing, ethics, regulations, and market practices. Success requires strong preparation, industry knowledge, and understanding of legal terminology. A professional real estate developer in Canada often values licensed agents and qualified professionals who can navigate complex transactions and evolving real estate market requirements effectively.