So You Want to Be a Real Estate Agent How to Pass Your State License Exam.

Format:

Book

Author/Creator:

Group Inc, Atlantic Publishing.

Language:

English

Subjects (All):

Real estate agents.

Real estate business.

Physical Description:

1 online resource (254 pages)

Edition:

1st ed.

Place of Publication:

Ocala, FL : Atlantic Publishing Group, 2017.

Summary:

You decided you want to be a real estate agent, which seemed like the hard part. However, the state license exam might be a little harder. Teens that have taken interest in the real estate market can expand their interests through the information provided in this book. Confusing and seemingly dull definitions and concepts have been broken down and are explained easily for the young adult audience. Material such as real estate legal issues, encumbrances, real estate law, financing real estate purchases, leasing, escrow accounts, contracts, and legal documents are covered in the book, but in a fun and clear way. The book is full of examples and vibrant photography to make a complex subject interesting and easy to understand. At the end of the book, you will find sample tests, so that every reader will know what theyâe(tm)re getting into. Young adults that have decided the real estate market is for them can get a head start and can ensure that when the time comes, they will pass the license exam on the first try.

Contents:

Intro

INTRODUCTION

DO I WANT TO BE A REALTOR?

HOW DID THE REAL ESTATE PROFESSION START?

A profession is born

So, how did licensing of real estate agents begin?

READY TO MOVE FORWARD?

CHAPTER 1

PREPARING FOR YOUR EXAM

EXAMS

STATE QUESTIONS

TESTING FORMATS

REAL ESTATE AGENT VS. BROKER

WHAT IS A REALTOR®?

WHAT TO TAKE TO YOUR EXAM

GETTING READY FOR THE EXAM

HELP! I HAVE TEST ANXIETY!

TEST-TAKING STRATEGIES

ARRIVING AT THE EXAM

HOW TO DOMINATE AT THE REAL ESTATE EXAM

Food and water

Follow directions

Read every word

Keep moving

Use scrap paper to its full advantage

Don't rush

Learn the process of elimination

Don't overanalyze

Change answers

Be prepared for math questions

Cramming

CHAPTER 2

REAL ESTATE PRACTICES AND PRINCIPLES

REAL VS. PERSONAL PROPERTY

Real property's physical characteristics

Real property's economic characteristics

Property (or legal) rights

Land descriptions

CONTRACTS AND DEEDS

General contract classifications and elements

WHAT COULD STOP A CONTRACT FROM GOING THROUGH?

PURCHASE AND SALE AGREEMENTS

Other terms you need to know

DEEDS

Types of deeds

Main parts of a deed

Other important deed and title terms

LEASES AND PROPERTY MANAGEMENT

Freehold and non-freehold estates

Types of leasehold estates (or "tenancies")

Types of leases

What do lessors and lessees have to do?

Lease options

Assignment vs. sublease

Other lease terms and considerations

Property management basics

REAL ESTATE BROKERAGE

Broker-related terms and types of agencies

Agent's professional responsibilities and strategies

The Multiple Listing Service (MLS)

Marketing strategies and basics

Marketing with the MLS

Land development and building construction

Property income analysis.

CHAPTER 3

REAL ESTATE LAW

REAL ESTATE LAW AND REGULATIONS BY STATE

BASICS OF LICENSE LAW

Licensing requirements

Typical laws and statutes

CONTRACTS AND LEGAL DOCUMENTS

What happens if the property is destroyed between signing and closing?

FEDERAL FAIR HOUSING LAW

Important parts of the FHA you should know

Housing not covered by the FHA

Enforcement and fines of the FHA

TRUTH IN LENDING ACT ("REGULATION Z")

Early and final Regulation Z disclosure requirements

Disclosure requirements for ARM loans

Right of rescission

Advertising disclosure requirements

PROPERTY DISCLOSURES AND TRANSFERRING OWNERSHIP

CHAPTER 4

MORTGAGES

TAXES

REAL ESTATE SETTLEMENT AND PROCEDURES ACT (RESPA)

Controlled Business Arrangement (CBA)

Computerized Loan Origination (CLO)

HUD-1 - RESPA Uniform Settlement Statement

SPECIAL AGREEMENTS

Condos

Condotels

Half-shares or quarter-shares

REITS (Real Estate Investment Trusts)

Credit unions

State-specific housing authorities and home financing authorities

Mobile homes

Private lending

Bridge (blanket) loan

Land contracts

CHAPTER 5

APPRAISALS (AKA, HOW MUCH IS IT?)

WHEN DO I NEED AN APPRAISAL?

Loans and mortgages

Real estate taxes

Insurance

Estate settlement

Condemnation

Buying for a business

Exchanges

WHAT MAKES A PROPERTY GO UP IN VALUE?

INFLUENCES AND VARIABLES TO VALUE

THE APPRAISAL PROCESS

Market approach

Income approach

Cost approach

CHAPTER 6

MATH REVIEW FOR THE REAL ESTATE AGENT

DECIMALS

Addition of decimals

Subtraction of decimals

Multiplication of decimals

Division of decimals

FRACTIONS

Addition of fractions

Subtraction of fractions

Multiplication of fractions

Division of fractions

PERCENTAGES

Percent to decimal

Decimal to percent.

Percent to fraction

Fraction to percent

Decimal to fraction

Fraction to decimal

MEASUREMENT OF DISTANCE, AREA, AND VOLUME

Area

Acreage

Volume

Perimeter

FORMULAS AND FORMULA AIDS

OTHER MATH NOTES AND USEFUL TERMS

Interest

Amortization

Profit and loss

Investment

Net income

Rate of return

Taxation

Proration and settlement

Commissions

Depreciation

CHAPTER 6 ANSWER KEY:

CHAPTER 7

PRACTICE TEST AND ANSWER KEY

NATIONAL PRACTICE EXAM #1

ANSWER KEY FOR PRACTICE EXAM

CONCLUSION

GLOSSARY

APPENDIX A

STANDARDIZED TESTING COMPANIES

APPENDIX B

STATE-BY-STATE GUIDELINES FOR THE REAL ESTATE AGENT EXAM

APPENDIX C

STATE REAL ESTATE COMMISSIONS & BUREAUS

APPENDIX D

UNIFORM APPRAISAL REPORT

APPENDIX E

SAMPLE GOOD FAITH ESTIMATE

APPENDIX F

ACRONYMS

BIBLIOGRAPHY.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

9781620232125

162023212X

OCLC:

1004376552