Real estate agents are a unique breed. They’re the only people who get their licenses to run a business, buy and sell for themselves, then convince customers that they can do a better job for them than somebody else.
Most of them work very long hours under great stress – often earning far less than they’d like. But it’s still an exciting field with opportunities for rapid advancement, especially if you happen to be good at sales – and sales are what it’s all about.
Some people seem to find the right career fit twenty years into their lives. Others start early, choosing professions that suit their personality and abilities. Yet others spend years trying different things before they finally find “the one.”
Passing the real estate exams has become a requirement for anyone to become an agent. This licensing exam will test your knowledge, experience, and skills in real estate. But how hard is the real estate exam?
Most of the time, these exams are difficult for anyone to pass because they contain so much information to remember.
Many aspirants tend to take this exam once or twice before they finally pass, which is not only unnecessary but also a waste of money. They would rather spend their time studying instead of retaking the same exam over and over again.
To help you out, here are some tips you can practice to pass the real estate exams on your first or next take.
10 Best Tips To Pass the Real Estate Exams
Tip 1: Take all your pre-requisites before classes begin
This is very important since most schools require you to show proof that you’ve passed one or more courses related to real estate prior to matriculation. Afterwards, make sure you follow up with your school to make sure they received the proof. Make sure that you have copies of your transcripts in case you are asked for them.
Tip 2: Check and verify your exam schedules ahead of time
Find out if your state allows you to take all exams at one time or if you’re required to break it up into parts
Most states require students to pass all exams within a certain amount of time, usually around 6 months. However, there are some times when students are allowed to spread the exam over a longer period of time.
You should check with your state agency because this could possibly allow you faster passage without having to sit for the same exam three separate times which can be costly.
Tip 3: Register early and schedule your exams around your test dates
The earlier you register, the less time there will be between now and your test date. This way it’s easier to study for these exams because they are all scheduled in one block of days rather than spread out over several weeks or months.
Waiting until the last minute can make studying feel like an insurmountable task. But don’t worry, if practice makes perfect then just keep on truckin’. The key is finding balance between putting forth enough effort during preparation versus not getting overwhelmed with stress when the exam day arrives.
Tip 4: Study at least 20 hours a week and take daily 15 minutes quizzes
Most people study in chunks of time. For your day-to-day schedule, have a set schedule that you can follow. For example: Monday from 9 AM – 1 PM.
You should spend those three hours studying and then take a 15-minute quiz at the end of every section (residential contracting, personal property, etc.)
With three hours per day and five days a week, you will be able to study 100+ hours per month. Remember it doesn’t matter if you know everything; what matters is how well you can apply what you know.
Tip 5: Use flashcards to memorize key terms and definitions
This one is very easy. Instead of writing down notes on paper use a notepad or a software program to write down all the key terms and definitions from your lessons. You should have an index at the beginning of each lesson where you can list all the important terms and everything you need to know about them.
The reason why a flashcard program is better than just writing it down in paper is that they are easier to carry around, there’s no need to search for paper when you want to study and lastly they allow you to examine your knowledge by giving yourself quick quizzes.
As a bonus, they also help train your memory since this kind of memorizing uses both sides of the brain.
Tip 6: Don't skimp out on things that don't require tests
This is one of the common mistakes many agents make when taking the exams. They spend so much time studying for tests and neglect to learn real estate principles such as how to improve your business, manage deals, etc.
People who fail these courses generally do so because of a lack of business knowledge, not knowing how to finance, or even managing a deal from A-Z. So don’t skimp out on those sections unless you’re absolutely sure that they don’t require an exam.
Tip 7: Take tests under timed conditions
It’s crucial to spend time on the questions that you find hardest because this will help improve your score. If a question seems too easy or difficult, don’t over study for it – just move onto another topic and come back later when you have more free hours.
For example, if you’re doing a multiple-choice read every question within 10 seconds and then decide on what you think is the correct answer. When it comes to essay exams, just write down your thoughts as best as possible without caring about spelling errors or grammar mistakes (you can always go back later and fix those types of mistakes).
The key here is speed – which means that the more times that you take these tests will help you get faster and better at answering questions with little to no time.
Tip 8: Don't take more than one test at a time unless you have to
It can be tempting to want to take more than one exam at a time but the main reason why people fail is that they start taking several licenses or courses at once.
They feel that they are “on a roll” so they continue studying for other exams without realizing that everything has already piled upon them.
If you are considering doing this, I would strongly advise against it since if you fail one of your exams – then all your money and time will be wasted.
If there’s absolutely no way around it then make sure you give yourself enough time between tests to effectively study for each one independently (at least 15 days).
Tip 9: Find a good study partner
It’s a lot easier to study with others and it‘s also a great way to share ideas and thoughts. My first suggestion would be to find someone who has comparable experience as yourself (i.e. don’t take test-prep classes from people who have been out of school for 30 years since you won’t learn as much). Once you’ve found your partners then decide how many hours everyone will study each day or week and set up regular meetings where you can discuss the material that needs more clarification. It may not seem like much but just having another person there helps alleviate some stress.
Tip 10: Study your weakest areas first
Finally, when studying for any test try to focus on the sections that you’ve had the most problems with in the past because while spending time going over every small detail may feel good – it’s not too efficient and you’ll just end up wasting a lot of time.
Spend about 80% of your time studying what you’re already familiar with and then 20% towards understanding new material. Questions will always be asked about things that you don’t know so knowing how to find answers is extremely important.
If possible try and use practice exams as a way to judge where you stand and how well prepared you are. This will also help prevent anxiety since you’ll know exactly what you need to work on and give an indication of how long it will take you to finish studying.
Bottom Line
As you can see, the keys to passing the real estate exams are speed and efficiency. You can’t spend too much time on any one topic or question so you should know how to prioritize quickly and move onto other sections as soon as possible.
Make sure that you thoroughly understand first and don’t worry about making mistakes – because nobody’s perfect.
