Real estate is a booming business these days. According to the U.S. Bureau of Labor Statistics, there were about 477,200 real estate agents in the United States, and the job market was predicted to grow by about 2% in the next ten years. However, to get into the industry you do have to pass the accrediting Real Estate exam.
Like any other exam, the real estate exam can be hard. A lot of people struggle with it, especially if they have had to do their learning online without teacher support. But that doesn’t have to be you! I’m going to run you through eight steps that will help you pass the real estate exam THE FIRST TIME, no problem.
The Eight Steps For Exam Success
Step One – Take A Practice Exam
The more you practice something, the easier it is to remember it. According to a study by Washington University in St. Louis, testing shortly after studying significantly improves long-term retention. It’s not so much about reading and rereading information–it’s about testing your memory and challenging yourself to remember the right answers. The more you test and retest, the better you’ll remember.
Don’t worry if you fail. It happens to all of us–it’s sure to happen to you at some point. But you’ll definitely want to fail on a practice test rather than on the real deal. There are tons of places to get practice exams, but two of the best out there are Real Estate Express and Prep Agent. Not only will they help you get the basic information, they will help you devote your focus to the most important aspects you need to know to pass in your state and real estate niche. And if you don’t pass, you’ll get a full refund from either one.
Step Two – Read The Vocabulary Glossary
It’s important that you know your game inside out. Do a read-through of the important vocabulary and terms to get a sense of what they mean. Then, do it again. You don’t have to memorize these, but you should ensure that they make sense when you hear them. This is a good way to exercise your muscles and make sure that your brain understands all the information it’s been taking in.
Before you jump into a specific course, make sure you are familiar with the main terms, as you’ll quickly see that they support each other. By the time you reach the end, you’ll have a solid understanding of exactly what you’re studying and be able to talk about it with all the proper verbiage.
Step Three – Read The Material
You can’t get by without it. Even if you only read it once, you’re going to need to have taken in all the material provided to you. Again, the best way to retain is to test your memory repeatedly and shortly after reading, so you should take advantage of any quizzes that your school offers. Read, quiz, read, and quiz again. By the end, you’ll have a comprehensive view of everything you need to know to pass the real estate exam.
When it comes to the quiz aspect, it’s important to have a good school. My personal favorite is Real Estate Express. It provides extensive quizzes all along the way, plus the practice tests already mentioned. It’s got a great program for testing and retesting your knowledge until you get it right. You can take the quizzes anytime you want to make sure you can score 100%.
Step Four – Take Quizzes 3-5 Times
In a good program, you can take a quiz multiple times with different variants of each question. That way, you know you’re getting the gold and understanding everything behind the question, not just remembering the wording and picking the right choice. Try each quiz as many times as you can take it until you know you won’t forget.
Step Five – Speak To A Realtor
About halfway through your course, you should talk to a realtor who uses all this knowledge you’re getting in hands-on experiences. There are questions that you just won’t find answers to in your courses, questions such as:
- What information are you not allowed to share with your clients?
- What is a typical purchase process?
- What do you wish you would have known before the test?
- What math questions do I need to know?
A good agent will provide you with the reasons behind their practices and how they succeed in their business so you can start building on that foundation.
When you do this, make sure you talk to a GOOD agent, someone with an honest reputation and a high rate of success. Don’t pick someone who doesn’t really know what they’re doing but will try to lead you anyway. You need someone who can apply what you learn to real situations and help you decide if real estate is right for you and how you can do it well. If you need help finding someone like this, contact me and I can help. I know brokers across the country in various states and would love to introduce you personally to any of them.
Step Six – Read Executive Summaries of Modules
In addition to quizzes, you’ll likely find succinct summaries of the information provided in each module/course. When you see these, read them. This will help you focus on the main points and translate your in-depth knowledge into a real-world explanation. You should probably read them at least twice to really absorb that information.
Step Seven – Retake The Practice Exam
As soon as you have finished your coursework in its entirety, immediately take a practice exam. That way, you’ll be imprinting the freshly learned information into your mind by testing to see what you remember. When you come into the testing place on the official day, you’ll have confidence that you already answered most of these questions and can easily do it again.
Step Eight – FINALLY, Take The Exam
Don’t wait for the months allotted by your school. It’s best to take that exam while the information is fresh in your mind. Schedule as soon as possible, go into the test, and answer the questions.
If you can, go straight through. Although some tests allow you to save a question and come back to it later, it’s not as easy with electronic questions as with paper exams. Plus, I recommend you just go with your first instinct. If you’ve studied the material, you know it. Once you’ve finished the test, submit it with confidence, knowing you did your best. If you’ve followed all these steps, you’re almost certain to pass the real estate exam!
What Now?
Now that you’ve passed your exam, you need somewhere to hang your license and start your life as a real estate agent. There are lots of options out there, but I would suggest you take a serious look at eXp Realty. I’ve written several articles on why this brokerage is a terrific option for any realtor. Plus, if you join with me, I will provide you all the lead generation services you need for FREE. So, take a look, and if you’re interested, reach out to me so I can help you build the successful real estate business you deserve.