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FAQ

What is the fastest way to pass the Colorado real estate license?
Almost every state requires you actually attend a certain amount of hours in a certified class/school that teaches about real estate law and to pass out with a certain exam score. After that the fastest way is to take your state, national, and broker simulations exams soon after you pass school so it’s still fresh in your mind. Study hard?
I'm moving to Colorado springs Colorado and want to get my real estate license. Do you know the best way for me to proceed or anything to look out for?
You’ll need to complete your real estate classes, just like any other state. If you’ve already passed your national exam in another state, then you should be able to skip it here in Colorado.Getting your Colorado real estate agent’s license (here in Colorado, the official title is “associate broker”) is harder than other states when it comes to passing the state exam.I had my license in Arizona (which provides agents a lot of legal power, which requires a lot of understanding about AZ real estate law) and Texas (where closings require real estate attorneys to review and approve paperwork, so there was less legal demands on agents) - and both states‡ exam content and requirements were definitely easier.Based on the latest passing rates (May 2019), only 63% of the people taking the exam the first time passed it. And that’s an increase from past years, where it was somewhere around 50%. That’s an intimidating passing rate for aspiring “associate brokers”, which means that many of them weren’t ready for the exam.The moral of the story is this: do your homework and find one of the best real estate school in Colorado to do your prep work. Don’t fall into the trap of “hey, I can save a couple of bucks, so I’ll go with the cheapest school” strategy.Go with a school that is up-to-date on current laws and requirements and requires a lot from their students. Otherwise, you will be rudely surprised when you take the exam and see questions on material that were either not covered enough in your classes, or, worse yet, not covered at all.(Yes, I speak from experience, although I did pass the exam the first time - only because I had a solid knowledge from other states and of real estate law and principles in general.)The Colorado Division of Real Estate provides a great resource - they prthe stats on where students went to school and then their total passing rates on the first try of taking the exam.Check out this page: Real Estate Broker Steps for Initial Licensure and selectReal Estate Broker Course Provider First Time Exam Pass RateAdditionally, there is a book you can purchase: Principles of Real Estate Practice Textbook. It’s definitely worth the money, especially when you’re preparing for the exam. That book ultimately saved me from getting close to failing the exam as it covered areas that my classes neglected to cover.Lastly, there are people in Colorado who do tutoring and exam prep classes that are not associated with a particular school. I would definitely recommend one of these people and their services - especially when it comes to the point where you need to choose which broker you want to work with.Be aware that the expenses of getting and maintaining your real estate agent’s license in Colorado is higher than other states. State fees, class fees, mandatory E&O insurance, CE fees, etc. all add up for over $1500 to start. And that doesn’t include what your broker will require you to pay in office fees, technology fees, etc.When it comes to brokers, that’s an even more important conversation . . . your choice depends on how committed you are, how much money you have in starting your career here, how much mentorship you need, and what services you want. And with the highly competitive sellers‡ market in Colorado, it’s extremely critical to have a powerful marketing plan in place once you get started. Otherwise, it will be a painful, expensive business venture.
Do I need a real estate license to rent out someone else's property on Airbnb?
To add to the other answer, you’ll need the permission of the owner. Also, remember to check that your listing is actually allowed as there are many rules and regulations pertaining to Airbnb listings.So, if everything checks out and you’re ready to become an Airbnb host, I strongly suggest that you get Airbnb automation software like AirGMS that will help you to automate many of your daily tasks like guest communication and cleaning.Good luck?
How much can I expect to make starting out in real estate as an 18 year old who just got their real estate license?
Ok very simple thing to understand about selling real estate.Worry about the business, worry about the brand.IF, for a minute you will worry about the dollars in your first year of real estate you are wasting your time and should spend more on fast food and franchising.Your business is your clients and your repeat business, and from that the reputation you put out and the feeder chain that eventuates from that.In the first year of real estate unless you had family in the business that last part of the equation will amount to a big fat ZERO.Simple because you don’t have that loopback of people who you know, and people who will recommend you for your services.But take heart, that last bit happens exponentially so it builds into big bucks from the other side.You put yourself out there, you hand out cards, you buy billboards, you punch out leaflets you go to networking functions.That’s your first year effort.Train yourself to negotiate better, train yourself to sell better, train yourself to read body language so you know before the client what the actions are going to be.Keep pumping yourself out there as a valued commodity, and eventually if you’ve worked yourself up with extra training and on the job experience, your blurb may approach reality.But for the first year?Hard work.Expect it. Work with it. Work through it. Learn from it.And don’t even think about a cash return until those numbers start feeding back on themselves.You’ll be working by the skin of your teeth and 2 minute noodles, you’ll hate it (but you NEVER show it) and then sometimes when it pays off you’ll love it.But most of the time your first year you will harden, learn to accept NOs and value YESs, and learn to place yourself within the crowd of other agents.After that, you’ll learn where you can differentiate, specialise, extend the services and make money.Get your groundwork underway first.
How do I obtain a real estate license?
The level of difficulty is something like getting ordained to perform wedding ceremonies or becoming a notary public.After a few frustrating real estate transactions, I decided to get my license. I found parts of the course interesting, but did not find the material challenging. Mainly you learn about state and federal real estate law and how to limit your liability.The worst part was that the state requires a certain number of hours in the classroom, even if the instructor completes the material. Here we are watching the Andy Griffin Show to fill time in order to meet state requirements.Here are links to getting a license in your state:California: Requirements to Apply for a Real Estate Salesperson LicenseNew York: NYS Division of Licensing ServicesTexas: How to Become a Real Estate Sales AgentFlorida: The Real Estate SchoolMassachusetts: How to Become a Real Estate Agent in Massachusetts: A Step-by-Step GuideOregon: Oregon Real Estate AgencyWashington: How to get your real estate broker’s licenseDC: District of Columbia - Real Estate CommissionPennsylvania: Commission HomeIllinois: Get Your Real Estate License
What are the approximate (minimum) costs required to keep a real estate broker license in dormant/inactive state (Please see details)?
Keeping a broker's license is easy, getting one is not. In most states, the costs of obtaining and maintaining a broker's license are nominal, involving a few hundred dollars in annual license fees and continuing education costs. Refer to your state's licensing authority for their rates and fees.Most states require that you first obtain a real estate salesperson license before you can get a broker's license, which generally requires a certain amount of experience as a licensed salesperson working under the authority of a broker. A person with a salesperson license can only use that license while working for a broker. So this license status will not help you reduce your costs when you buy a property, since you would have to be working with a broker who holds your license.
How to obtain a real estate license in Toronto?
Obtaining a license in Toronto is pretty straight forward: You can signup for classes here: orea.com (This is the Ontario Real Estate Associations Website)The thing is...."Getting your license" is the easy part.These are somethings you should know before you get into the business.1) It's a businessI just got this email yesterday:And I get emails like this almost everyday.Starting your real estate 'career' is the biggest misknowmer of all. You are starting a business. And you get all the fame, glory, pain, and struggles that come with this.I'd recommend reading this: The 6 Things All Million Dollar Agents Do:And this: Becoming A Real Estate Agent - Learn From The Top ExpertsBefore starting... 2) You're in the lead generation businessEven people that understand it's a 'business' don't quite get what type of business real estate is.Here's a great quote that helps explain this thought:McDonald's is worth what it is today partially because of all the wealth that exists in their real estate holdings.  The same goes for Walmart and other giants.Real Estate is the business of lead generation.You need to BUILD lead generation funnels that lead to you every month in this business.Middle producers have 4-8 funnels that lead to them. ::::Pausing for a moment... if you don't know what funnels are read these quora posts ---What is the best real estate website design company for generating agent leads?How do I promote real estate property in Facebook?What is the best way to secure the listing at a preview appointment?What systems do need in place to gross $500k in real estate sales commissions?What are the biggest challenges in using social media for real estate marketing?What are some keyword suggestions for finding motivated property sellers on Craigslist?::::::These lead generation funnels need to be in place? You need to be able to find people that are interested in buying & selling through you. And want to do that because you offer a unique/competitive advantage?All this being said, real estate is a very rewarding career. Best of luck with it? Build your business and you'll be successful?