Real Estate 2018: What to ExpectAs we head into a new year, the most common question we receive is, â€śWhatâ€™s the outlook for real estate in 2018?â€ť Itâ€™s not just potential buyers and sellers
How To Get Your Texas Real Estate License
I'm asked all the time how do I get my Real Estate License - so here's a GREAT overview of the process! Always feel free to call me and I'll provide you with more guidance too! My Baylor degree took 4 years and over $30,000 (yes, it was a long time ago). It got me a job making $20,000 a year. My Real Estate License took 2 weeks and a couple of grand and it's made me millions..... I'd say it was a pretty good investment!
A great starting place is to come to one of our informative lunches or webinars - call me for the schedule - that way you can learn a lot about the business before you make the investment. My cell is 210-465-5275. You can also check out
www.ExplodeYourCareer.com for more information.
Once you've made the decision, here is the roadmap:
STEP 1: Education Requirement
Purchase the PDF pre-license certification package instead of an online course. There are tons of vendors and this is not the time to go with whoever is cheapest. Do NOT do 'online only courses'. If you're tempted to do so just know you'll regret it. I'm also not a fan of the Real Estate Schools - it just takes too long.
My current favorite is Allied Real Estate School This one has a 110% guaranteed you'll pass the exam. It's an extra $100 to get the books - it's worth it - you'll be able to do it WAY faster. This would probably be my choice. $698 if you order the books.Call Ryan 800-617-3513 - ext 8675. Tell him Traci Lewis sent you and ask for my discount. You'll have to call for the discount.
The PDF Advantage
Most online courses require you to set through hours of videos then take assessments where the PDF course allows you to move through the course at your own pace.
You can easily complete one course every other day and fulfill your 180 hour course requirement in 2 weeks instead of several months with online courses or classes.
You could easily one course every other day and fulfill your 180 hour course requirement in 2 weeks instead of several months.
Recommended 9 step strategy for accelerated completion:
Start with Principles of Real Estate 1
Review the glossary then do a quick once over (scan) of the pdf course file. Read the summary at the end of each lesson. A lot of the answers to the test are in the summaries..
Take the online test
If you score 70% or better, youâ€™ve just completed 30 hours of your required course work
If you score less than 70%, go through the review assessment, make a note of all the questions answered incorrectly, find the correct answers, then immediately retake the assessment.
Save the certificate in your real estate prep folder.
Move on to Principles of Real Estate 2 and follow the steps above.
Complete the remaining 4 courses in the same manner
Set a goal to complete a course, pass the assessment and obtain the â€ścertificate of completionâ€ť at least every other day 6 courses in 12 days. If you have a lot of free time, you might even go even faster.
Obtaining a certificate for each of the six courses will fulfill the TREC education requirement as shown below.
Principles of Real Estate [60 classroom hours]
Law of Agency (30 classroom hours)
Law of Contracts (30 classroom hours)
Promulgated Contracts Forms (30 classroom hours)
Real Estate Finance (30 classroom hours). (Related course credit may no longer be used to meet education requirements for a sales agents license).
Education course completion documents must be submitted when the application is filed.
STEP 2: File Your Application
After you have completed your education, you may file and pay for the Application for Inactive Sales Agent License. Evidence of successful completion of your education via credit transcript or certificate should be submitted with your application. DO NOT submit original transcripts or course completion documents. Keep the originals for your personal files and send photocopies to the Commission.
You can easily apply and pay online for your Inactive Sales Agent License. The information requested online is the same as on the paper application. If you are filing online, scan and send your education documents electronically to firstname.lastname@example.org or fax them to 512-936-3863 with a copy of your completed Online Payment Summary page.
If submitting your application by mail or in person, please note that an application received without the appropriate fees will be rejected and your check will be returned to you. The following fees should be submitted in ONE PERSONAL CHECK, CASHIERS CHECK OR MONEY ORDER payable to the Texas Real Estate Commission. Cash will not be accepted.
ALL FEES LISTED BELOW ARE NON-REFUNDABLE.
Background Check Fee - All license holders who have been fingerprinted for TREC must pay the $29.75 background check fee with each subsequent renewal or application.
Any paper document that is submitted for a transaction that is available online must include the required $20 paper processing fee.
STEP 3: Fingerprint Requirements
Pursuant to Â§1101.3521 of the Real Estate License Act, any person applying for or renewing a sales agent license must provide their fingerprints. Once the applicant has obtained a TREC entity number the FastPass form may be downloaded from our website at http://www.trec.state.tx.us/FASTPass/ and an appointment must be made through MorphoTrust or through Pearson VUE. A license will not issue if the background check has not been cleared.
A $29.75 background check fee must be included in the Original and Registration applications for applicants that already have fingerprints on file with TREC.
License examinations are administered by Pearson VUE, a testing service company. Once the complete application is received and processed and education is satisfied, the applicant will be notified of eligibility to sit for the examination. The exam eligibility notification will have instructions for contacting the exam administrator and obtaining a copy of the Candidate Handbook to register for the exam.
The Candidate Handbook contains information about the examination, study material, and instructions for making an exam reservation.
Two forms of current signature identification are required for admission to a testing site. The name on the identification must match the name on the application for a license. The applicant must pass the examination within one year after the date the application is filed with TREC.
Note about Exam Prep: The Premium PDF Prelicense Package you purchased also includes an Texas State exam prep that will help you get prepared in 3 easy steps.
Other things you should be aware of:
Investigation May be Needed
The filing of an application authorizes an investigation of the applicant's background. Information revealed in an investigation may be cause for disapproval of an application even though other requirements for a license are met. If an investigation is necessary, it may not be conducted until the applicant has passed the examination.
Texas Guaranteed Student Loan Repayment History Check
If the applicant has defaulted on a student loan with the Texas Guaranteed Student Loan Corporation (TG) and is not currently making payments under a repayment agreement, contact the Texas Guaranteed Student Loan Corporation, PRIOR to filing an application, at:
P.O. Box 83100
Round Rock, Texas 78683-3100
Telephone: (800) 252-9743
(in Austin, call 219-5700)
State law prohibits renewing a license after a license holder has defaulted on a student loan guaranteed by TG unless the license holder has entered into a repayment agreement with TG. A reinstatement application or renewal may be declined if TG has notified the agency that the applicant has defaulted on a student loan.
Before you can practice as a licensed sales agent you must arrange for a Texas real estate broker holding an active license to sponsor you as a sales agent. Applicants and inactive sales agents are not authorized to act as a real estate license holder.
While you are not required to have a sponsoring broker to file an application for a license, a Sales Agent Sponsorship Form is included with the application materials. If you wish, you may file the sponsorship request along with the application. Once all licensing requirements have been satisfied, TREC will send an active sales agent license to the broker, and you may act for the broker on receipt of the license.
You may also file the application and arrange for sponsorship after TREC notifies you that you have been issued an inactive license. Once a broker holding an active license has mailed a request to TREC to act as your sponsor, you may begin to act for the broker as a sales agent.
Don't Practice Prior to Licensure
You are not authorized to perform any act for which a real estate license is required until an ACTIVE Texas Real Estate Commission license is in the possession of your sponsoring broker.
As noted above in the Filing Your Application section, online applications travel through the system much faster than paper-based applications. The online application process could potentially save you weeks of waiting for a license, due to the delays of regular mail communication and other factors inherent in the paper-based process (such as data entry time and processing of checks).
As always, call me for guidance.
Traci and Scott Lewis
San Antonio Realtors with eXp
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