Arkansas requires you to complete a 60 hour real estate course and pass a state licensing exam. Once you are affiliated with a brokerage, you can become a licensed real estate agent. Although this can seem daunting, it is possible to make a successful career in real estate once you have your license.
Steps to get your Arkansas real estate license
The first step towards getting your real estate license is completing a 60-hour course from an accredited provider. It can be done online or in a classroom, depending on your preference and needs. The online option allows you to be more flexible with your time and also helps you gain a better knowledge of the industry.
Once you've completed your pre-licensing education, you will need to submit an application for the real estate licensing exam with the Arkansas Real Estate Commission (AREC). This is a lengthy process that involves background checks and fingerprinting. After you have satisfied all requirements, AREC will issue you the Certificate of Examination Equiligibility.
You will then need to register for and pay for the state exam, which is administered by global testing company Pearson VUE. You can find additional information about the exam at the AREC site and on Pearson VUE's official website.
The next step is to submit your application and any other forms to AREC together with your fees. After you have submitted the forms, the AREC will issue you a copy of you Certificate of Examination Eligibility. You can then schedule your exam on the official website of Pearson VUE and pay for it using a credit card, debit card, electronic check, or voucher.
Additionally, you will be required to show a photocopy or your identification. A fingerprint card can be submitted by you. This is provided by AREC.
If you want to save time and money, you can consider taking your real estate license prep courses online. Many schools offer classes online and in-person. It's easy to fit your schedule.
One of the best options for online real estate classes in Arkansas is National School of Real Estate, located in Little Rock. These classes have been praised by students who said that the instructors were enthusiastic and helpful. You can also choose from livestream or self-paced courses.
Arkansas Real Estate School is another popular option. They offer both self-paced and livestream courses. The classes are for students who are looking to get advice from industry professionals and gain knowledge about the industry.
These classes are ideal for people who don't have the time or desire to learn quickly. They're affordable and are backed by great customer service.
The final step is to take the real estate licensing exam. The exam is held at various locations throughout the state, including in Little Rock and Springdale. Pearson VUE, a global testing company administers the real estate license exam. The official Pearson VUE website allows you to schedule your test and you will receive a Candidate Fact sheet with all the details you need.
FAQ
Should I rent or buy a condominium?
Renting could be a good choice if you intend to rent your condo for a shorter period. Renting will allow you to avoid the monthly maintenance fees and other charges. A condo purchase gives you full ownership of the unit. You have the freedom to use the space however you like.
Do I need a mortgage broker?
If you are looking for a competitive rate, consider using a mortgage broker. A broker works with multiple lenders to negotiate your behalf. Some brokers earn a commission from the lender. You should check out all the fees associated with a particular broker before signing up.
Is it possible to sell a house fast?
If you have plans to move quickly, it might be possible for your house to be sold quickly. But there are some important things you need to know before selling your house. You must first find a buyer to negotiate a contract. Second, prepare the house for sale. Third, you must advertise your property. Finally, you should accept any offers made to your property.
Statistics
- It's possible to get approved for an FHA loan with a credit score as low as 580 and a down payment of 3.5% or a credit score as low as 500 and a 10% down payment.5 Specialty mortgage loans are loans that don't fit into the conventional or FHA loan categories. (investopedia.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)
- The FHA sets its desirable debt-to-income ratio at 43%. (fortunebuilders.com)
- Private mortgage insurance may be required for conventional loans when the borrower puts less than 20% down.4 FHA loans are mortgage loans issued by private lenders and backed by the federal government. (investopedia.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)
External Links
How To
How do I find an apartment?
Moving to a new place is only the beginning. Planning and research are necessary for this process. It involves research and planning, as well as researching neighborhoods and reading reviews. Although there are many ways to do it, some are easier than others. Before renting an apartment, it is important to consider the following.
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Data can be collected offline or online for research into neighborhoods. Online resources include websites such as Yelp, Zillow, Trulia, Realtor.com, etc. Online sources include local newspapers and real estate agents as well as landlords and friends.
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Review the area where you would like to live. Yelp. TripAdvisor. Amazon.com all have detailed reviews on houses and apartments. You may also read local newspaper articles and check out your local library.
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You can make phone calls to obtain more information and speak to residents who have lived there. Ask them what the best and worst things about the area. Ask them if they have any recommendations on good places to live.
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Take into account the rent prices in areas you are interested in. If you think you'll spend most of your money on food, consider renting somewhere cheaper. However, if you intend to spend a lot of money on entertainment then it might be worth considering living in a more costly location.
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Find out more information about the apartment building you want to live in. How big is the apartment complex? What's the price? Is it pet friendly What amenities does it have? Are there parking restrictions? Are there any rules for tenants?