Frequently Asked
Questions

IS REAL ESTATE THE RIGHT CAREER FOR ME?

Real Estate is an amazing career that allows you to have freedom and flexibility, but it is not for everyone. Contact us for more information and find out if real estate is the right fit for you.

WHAT ARE THE REQUIREMENTS FOR GETTING A REAL ESTATE LICENSE?

  • You must take 75 hours of education. We offer both of these courses, Fundamentals and Practice.
  • 18 or older
  • High school diploma or equivielent.
  • Pass the state exam

HOW MUCH DO THE CLASSES COST TO GET MY LICENSE?

Fundamentals is 30 hours and $222

Practice is 45 hours and $333

Required text book is $50.

WHAT IS THE CE REQUIREMENT?

You are required to take 14 hours of CE for the current cycle. The deadline is May 31, 2022. The Commission requires 3.5 hours of Fair Housing and the remaining 10.5 are elective.

IS THERE A REFUND POLICY?

You are entitled to a full refund up until one hour before the start of the second class*

 

*this does not apply for CE or non credit courses.

What is the difference between a buyer's agent and a seller's agent?

A buyer‘s agent is a real estate agent who works exclusively with buyers to help them find the best property for their needs and negotiate a favourable purchase price. A seller‘s agent, on the other hand, works exclusively with sellers to help them market, list, and sell their property for the highest possible price.

What are the benefits of using a real estate agent?

1. Guidance: A real estate agent can provide knowledgeable advice and guidance throughout the entire home buying or selling process.

2. Market Knowledge: Real estate agents have a deep understanding of the local market, including what homes are worth and what other homes have sold for.

3. Negotiation Skills: Agents are skilled negotiators and can help buyers and sellers get the best deal possible.

4. Networking: Agents have access to a wide network of professionals, such as lenders, home inspectors, contractors, and others who can help make the home buying or selling process smoother.

5. Time-Saving: Agents handle all of the paperwork and administrative tasks associated with buying or selling a home, so buyers and sellers don’t have to worry about it.

6. Expertise: Agents are experts in the home buying and selling process and can answer any questions buyers or sellers have.

What are closing costs?

Closing costs are fees associated with the purchase or refinance of a home, such as appraisal fees, title insurance, and recording fees. They are paid at the closing of a real estate transaction and can range from 25% of the purchase price.

What are the different types of mortgages?

1. Fixed-Rate Mortgage: This type of mortgage has an interest rate that does not change for the entire term of the loan.

2. Adjustable-Rate Mortgage (ARM): This type of mortgage has an interest rate that can change over time.

3. Jumbo Mortgage: This type of mortgage is for high-value properties and typically requires a higher credit score and down payment than other types of mortgages.

4. FHA Mortgage: This type of mortgage is insured by the Federal Housing Administration (FHA) and is available to those who may not qualify for other types of mortgages.

5. VA Mortgage: This type of mortgage is available to veterans and some active-duty military personnel, and is backed by the U.S. Department of Veterans Affairs.

6. Interest-Only Mortgage: This type of mortgage requires the borrower to make interest payments only during the loan term, with the principal balance due at the end of the loan term.

7. Reverse Mortgage: This type of mortgage allows homeowners age 62 and older to convert a portion of their home equity into cash.

What is a title insurance policy?

Title insurance is a type of insurance that protects the insured party against any losses that may result from defects in the title to a property. It covers the insured against loss from title defects, liens or other matters that are not known at the time of purchase. It also pays for the legal defense of the insured in case of a lawsuit or other legal action that may arise due to a title defect. Title insurance is a one-time premium that is paid at the time of closing and is generally required for all real estate transactions.

EDUCATION

Real Estate Classes

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