Study real estate license exam material?

Question

I'm a newcomer to real estate and was wondering... would you all suggest studying the RE license material and learning the content for the real estate exam just for the foundation of knowledge that it provides? It seems like it would be helpful, regardless of when or if one takes the exam. For me at least, the exam study book seems to be the place to look next, just to get some basic working knowledge and terminology as a newbie to real estate.

At what point do you all think the perks of having a license are worth the annual fees?

Thank you!

At what point do you all think the perks of having a license are worth the annual fees?

Thank you!

Micki M. · Answer

Account Closed The information you study to pass the real estate license exam doesn't have much practical bearing on the day to day of working as a real estate broker or investor (IMHO).  It certainly won't hurt to become more familiar with the laws and practices, but unless you have a reason for getting licensed your time could be better spent shadowing a mentor or doing actual deals.

Adrian Tilley · Answer

Account Closed I used The Authoritative Guide to Preparing for the PSI General Exam, found here: http://www.amazon.com/gp/product/0971194130/ref=oh_aui_search_detailpage?ie=UTF8&psc=1

Bill S. · Answer

Account Closed the RE Licensing is designed to protect the public and the content of the exam is to test for knowledge of the laws related to practicing as an agent. That is a small part of what it takes to be a successful broker and even smaller part of being an investor.

Jake Silcott · Answer

I'm fairly new to real estate and was on the fence about whether or not to get licensed for a while. I finally decided to go ahead with it after weighing the benefits/costs and discussing it with several other successful investors, who all are licensed and recommend it. For me, the benefits that make it worth it are...

1) Credibility with sellers, buyers etc.

2) MLS access

3) The option to list the occasional property if I want and earn extra cash through a comission

4) Not having to rely on a realtor for  realtor related tasks like gaining access to properties for sale. I work with a few great agents, but sometimes I can't get ahold of them immediately.  Denver is a very competitive market and often it essential to be able to move as quickly as possible.

5) Education and the ability to properly and knowledgably handle paperwork, contracts, etc. I'm about half way through the classes for the license and have already learned a  ton.

I'll also add that it's not that difficult to get a license, and the costs aren't really much. So, why not? It certainly doesn't hurt. If your serious about being in the RE game you might as well be equipped with all the tools.

Fred Heller · Answer

If you are going to do that, I would suggest actually taking real estate courses. Most states have an educational requirement before you can take the test, and you have to present certificates of completion. If you're going to study the materials you might as well get the credit for it.

San Olmos · Answer

Dude just get educated lots of stuff out there 10 hour work week is a good wholesale program. SEAN Terry . Steph Davis but locally in Denver look up John Fisher. I just attended his wholesale seminar great stuff there were 25 investors,wholesalers,brokers and mortgage loan originators like myself there he also does fix n flips- buy and hold and has practical how to seminars going on in Denver all the time first educate yourself and network with other investors

Jean Bolger · Answer

I have actually found some of the information in my real estate course very useful. I have a much better understanding of basic things like types of title, lease law, water rights, easements, contracts, foreclosure law, fair housing law (really important if you're doing buy and hold). A lot these are things I "kind of" knew/understood before, but now I have better grip on them. I wouldn't say it's all things that are necessary to know  to be a good investor, but there are things in there that could potentially keep you out of trouble in some situations

Kevin Walter · Answer

Hi Hans,

Welcome to Denver.  I'm 30 years old as well, and I got my license in 2010.  I'd say having a basic knowledge in RE (especially studying the material needed for the test in Colorado, since once is an associate broker upon passing in this state) would be very helpful, no matter what avenue you decide to go down.

Randomly, I still have all of the study material if you'd want to take a look.

If you want to get together and chit-chat sometime, lemme know.  I don't have all the answers (especially compared to some of the very knowledgeable people here), but I'm always open to talking real estate.

Where did you move from?

Brittany Moreland · Answer

The majority of what you learn in the real estate course isn't something you can apply to day to day dealings in real estate.  The courses are more to give you an overview and very basic understanding of real estate law.  If you are planning to work with a realtor then I wouldn't bother taking any course or studying the material, your realtor(granted they are a good one) will be a great way to learn all this information over time.  If you're not planning to work with a realtor I would suggest taking a course, even if you don't get your license, so you can have that basic understanding of real estate laws and terminology.  I would also take the course instead, which is taught primarily by real estate lawyers in my State, instead of just studying on your own.  Having somebody there to answer your questions is unbelievably helpful.  Last place you ever want to find yourself in is a legal situation that could have been easily avoided!!!  Congratulations on deciding to get into real estate, wishing you lots of success.

Study real estate license exam material?

Most Popular Reply