06 Jun Real Estate Exam :: Free Practice Test
Once you have passed the real estate exam from your licensing school, you’ll need to register for the real estate exam that’s required by the state.
Sometimes you’ll need to wait a while before you can get an appointment set to take your real estate exam. The states have a limited number of testing slots for all of the professions they regulate, and there is high demand for the real estate exam slots right now. When the market is hot, many people flock to the real estate industry. (Plus, I’m betting those silly reality shows have created some demand as well. Pro tip: Real estate does not work the way you see it on TV.)
The real estate exam itself will cover a variety of topics about the state laws and regulations, in addition to the national laws and regulations.
There is no “standard” real estate exam, although some topics will certainly be covered no matter where you live and where you want to get licensed. The topics that are (unfortunately) ALWAYS an issue are topics around fair housing laws, the handling of escrow funds and dual agency. Some states don’t allow dual agency or have a different terminology for it, but you can bet that the agency relationships that are created during a real estate transaction will be covered.
How do the states decide what to put on the real estate exam? Aside from the basic knowledge each real estate licensee needs in order to legally do their jobs, the states will update their real estate tests on a regular basis to reflect the consumer complaints and lawsuits that they are seeing in their states at the time.
For example, many states were ill-prepared for the creativity of all the scammers who came out of the woodworks when the foreclosure crisis hit the US in 2008. There were ALL SORTS of scams that even the most creative real estate regulators could not have anticipated. The state tests were updated to reflect the new laws that were introduced to combat the scams.
The best blanket advice for passing the real estate exam is to know the material. It might seem obvious, but it’s worth noting. It’s common for questions on the exam to be worded in strange ways to test your understanding of the material (and the English language). As a student of proper grammar, I cringe at some of the phrasing. Double negatives, triple negatives and vague descriptions are common. It’s not too bad as long as you understand the underlying concepts and principles.
Also, TAKE YOUR TIME. There’s no prize for finishing first. The time allotted is usually MUCH more than you’ll need, so don’t race.
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We’ve also compiled a list of frequently asked questions from new agents.