Arkansas has the licensing requirements to allow you to become a professional real estate agent. While the process may seem daunting, it is not impossible if one follows the right steps and works hard.
60 hours education must be completed from an accredited provider to earn your license. This can be done in-person or online, but it's important to choose the right school for your needs.
There are several schools in Arkansas that can provide you with the pre-license course and exam prep you need to be successful. Some schools offer livestream courses which let you interact with students online. Other schools teach in person, making them ideal for people who prefer to be surrounded by others.
For your Arkansas Real Estate Commission-approved Pre-License Course, you must complete 60 hours. There are many options available and most offer flexible scheduling. Some allow you to finish your coursework in just weeks, others may take several months or even years.
After you have completed the pre-license course, your Arkansas Real Estate Salesperson Examination will be required. You must score 70% or higher on the 110-question exam.
Pearson VUE is the official state exam administrator in Arkansas. The Arkansas Real Estate Commission has partnered up with Pearson VUE. You can either register online or at one of their five testing sites across the state to take the test. Registration is required to pay the $75 fee.
Once you pass the exam, you must submit your license application. The average process takes 5-10 days. However, if you're diligent about studying well, you might be able get your license in a shorter time.
StateRequirement also offers a state-specific practice exam that will help you understand the topics on which you will be tested. This resource is constantly updated so you can be prepared for your exam.
It can be overwhelming to take your license exam. However, there are many resources available that can make the process more manageable. StateRequirement's Guide to How to Pass Real Estate Exam. This comprehensive guide works in tandem to your pre-license course and will prepare you for your exam.
You have many benefits when you get your real estate license. For example, you can sell properties and earn a commission. It can also be a lucrative career and a good way to support your family.
Anyone who wants to work for themselves and be their boss is well-suited for brokering. Those who pursue this path can also keep 100% of the commission they make from their own sales, which can be an incredible bonus for those looking to increase their income.
FAQ
How long does it take to get a mortgage approved?
It depends on several factors such as credit score, income level, type of loan, etc. It typically takes 30 days for a mortgage to be approved.
What are some of the disadvantages of a fixed mortgage rate?
Fixed-rate loans have higher initial fees than adjustable-rate ones. A steep loss could also occur if you sell your home before the term ends due to the difference in the sale price and outstanding balance.
How many times can my mortgage be refinanced?
This depends on whether you are refinancing with another lender or using a mortgage broker. In both cases, you can usually refinance every five years.
Is it better buy or rent?
Renting is usually cheaper than buying a house. However, renting is usually cheaper than purchasing a home. Buying a home has its advantages too. You'll have greater control over your living environment.
How can I eliminate termites & other insects?
Your home will be destroyed by termites and other pests over time. They can cause serious damage to wood structures like decks or furniture. To prevent this from happening, make sure to hire a professional pest control company to inspect your home regularly.
How can you tell if your house is worth selling?
You may have an asking price too low because your home was not priced correctly. You may not get enough interest in the home if your asking price is lower than the market value. For more information on current market conditions, download our Home Value Report.
Statistics
- Over the past year, mortgage rates have hovered between 3.9 and 4.5 percent—a less significant increase. (fortunebuilders.com)
- 10 years ago, homeownership was nearly 70%. (fortunebuilders.com)
- The FHA sets its desirable debt-to-income ratio at 43%. (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)
- 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)
External Links
How To
How to find real estate agents
A vital part of the real estate industry is played by real estate agents. They sell homes and properties, provide property management services, and offer legal advice. Experience in the field, knowledge about your area and great communication skills are all necessary for a top-rated real estate agent. To find a qualified professional, you should look at online reviews and ask friends and family for recommendations. Consider hiring a local agent who is experienced in your area.
Realtors work with buyers and sellers of residential properties. It is the job of a realtor to help clients sell or buy their home. Apart from helping clients find the perfect house to call their own, realtors help manage inspections, negotiate contracts and coordinate closing costs. Most agents charge a commission fee based upon the sale price. Some realtors do not charge fees if the transaction is closed.
The National Association of Realtors(r), (NAR), has several types of licensed realtors. NAR requires licensed realtors to pass a test. The course must be passed and the exam must be passed by certified realtors. NAR recognizes professionals as accredited realtors who have met certain standards.