All That You Need To Know About the Real Estate Exam Prep in Georgia
All,
When it comes to a high-paying, satisfying career path, real estate is amongst the top popular choices.
According to job data and employee surveys, real estate professionals have agreed to be more satisfied with their employment status, as compared to many other professions.
Be it the ability to help people buy their dream home or the sheer number of opportunities to grow their income, a career in real estate is exciting and rewarding, to say the least.
It is no surprise that real estate has become a preferred profession for many first-time as well as middle-of-the-life professionals.
If you are interested in becoming a part of this growing, dynamic industry, now is a good time to get started. Especially for Georgia residents as the state is witnessing a rising demand for residential housing as well as luxury real estate.
Since the last few decades, Georgia has consistently proven itself as one of the most stable and steady markets for homebuyers and investors.
It ranks at 4th position in the country in terms of its population, making it a lucrative real estate market for aspiring agents and brokers.
Atlanta alone is a hotspot for homeowners, migrants, and real estate investors and that is not just all. Georgia is brimming with popular and emerging towns and neighborhoods including Augusta, Macon, and many others.
If becoming a real estate agent, broker or appraiser is on your career priority list, now is the time to give shape to your dreams, especially with the average annual salary of around $50K.
The economy is ripe for opportunities for earning and commissions, and you can easily make a lucrative and stable career path in Georgia’s real estate market.
For those wondering what is the best way to study for a real estate license, we are going to walk you through all the steps of the process.
Keep on reading till the end to find answers to your questions on how to prepare for and ace the Georgia real estate licensing exam.
An In-depth Review of the Licensing Test for Real Estate Agents in Georgia
According to the Georgia Real Estate Commission (GREC), every real estate agent, broker, appraiser, or realtor must be licensed to legally partake in the sale, purchase, appraisal, or renting of real estate.
To obtain a state-approved license, every candidate is required to take and complete the state licensing exam to obtain a real estate license.
The Georgia real estate exam is a test which is administered by the GREC to determine and evaluate the knowledge and skills of applicants.
Needless to say, without passing the exam, you will not be able to obtain a state-approved real estate license.
Why is the Exam Important?
The Georgia real estate licensing exam is a benchmark to evaluate applicants and students interested in becoming a licensed member of the state’s real estate market.
Passing the exam requires a bare minimum yet the maximum level of proficiency from a student.
To become a licensed real estate agent, broker, or appraiser, one must score at least 70% or above and pass the licensing exam.
The licensing exam is the most important step in your journey to become a licensed real estate professional.
Now that you have a starting idea about the exam and its importance, the next step is to dive deeper into the Georgia real estate exam practice tips.
Note that you will be required to pay a one-time examination fee of $119.
Types of Questions in the Georgia Real Estate Exam
Multiple Choice Questions
The Georgia Real Estate exam is an in-depth test designed to evaluate the knowledge and preparation of a student with a range of questions.
There are 152 multiple choice questions in total with each question having four options. The exam is divided into two major portions - national and state-specific portions.
You will get four hours in total to complete the exam.
Let us take a quick look at the sections which the national portion consists of:
- Agency relationship
- Contracts
- Real property
- Finance
- Property ownership/interest
- Marketing Regulations
- Real estate calculations
- Property management
Next comes the state-specific portion of the licensing exam. Under it, you can expect to see questions related to real estate laws, regulations, laws, and guidelines specific to Georgia.
These include the following for the real estate salesperson exam:
- State laws and regulations
- Fair housing laws
- Real estate education and research
- Commission organization
- Sales contracts
- Investigation and hearing
- Property management
- Fees and qualifications
However, if you are appearing for the real estate broker’s license exam in Georgia, then you can expect to tackle the following topics and questions in the state-specific portion:
- Georgia state laws and regulations
- Trust accounts
- Unfair real estate practices
- Qualification and fees
- Real estate practice
- Real estate education and research
- Required licensure
- Closing and calculations
Scenario-based Questions
During your Georgia state licensing exam, you will also have to face scenario-based questions that will test your situational awareness and response.
Based on whether you are appearing for a salesperson or a broker’s licensing exam, you can expect to tackle questions designed to simulate real-world scenarios:
- Agency relationships
- Property management
- Fair housing laws
- Money handling
- Supervision of licensees
- Freehold and leasehold
- Government regulations
- Valuation
How to Pass the Licensing Exam for Real Estate Agents in Georgia?
Let’s face it – first-time applicants can find the Georgia real estate exam coursework complex and intimidating. Many beginner students often fear appearing for the exam.
However, with practice and preparation, tackling and even passing the real estate licensing exam in Georgia is an achievable goal.
Here is how to go about working out a study strategy and some top tips for passing the real estate exam in Georgia.
Familiarize Yourself with the Exam Format
Be it any exam, if you want to pass it with confidence, you need to first get a good grasp of the exam’s format.
When it comes to the Georgia real estate licensing exam, you should start by looking at the type of questions asked and the language you can choose. Then comes the exam topics and curriculum which must be understood thoroughly.
To familiarize yourself, learn more about the key topics covered in the exam, including – the basics of real estate, property rights, state and national rules, and real estate terms.
Create a Study Plan and Stick to It
The best way to study for a real estate license is to have a dedicated, actionable schedule for your learning.
Having a plan means you can be consistent and when it comes to success, consistency is the most important ingredient.
Be it the weekdays or the weekends, you should have a set study plan to ensure you are committed to learning every day.
There are numerous topics and subjects to be covered as part of your real estate coursework, so make sure to give enough time to them all.
Utilize Georgia-Specific Resources
As you might have understood by now, the licensing exam consists of a lot of state-specific topics and questions.
Therefore, to ace your preparation, you should utilize Georgia-specific resources and study material.
This will help you gain a solid understanding of what topics to expect in the licensing exam. Plus, you will be better prepared to tackle Georgia-related questions with confidence.
Take Practice Exams and Review Your Answers
Your Georgia real estate exam prep is incomplete without taking practice tests that simulate the environment of the final licensing exam.
By taking practice exams, you can better equip yourself with what to expect during the actual exam.
Taking practice exams can help you develop speed and accuracy in answering questions. After all, you have 152 questions to tackle in a limited time of four hours.
Practice tests can help you test your readiness and review your answers. In many cases, practice tests allow you to connect the dots between the different topics you will encounter in the licensing exam.
Focus on Weak Areas and Seek Additional Help if Needed
The Georgia real estate licensing exam can be challenging and overwhelming but you should face it with confidence to succeed.
Amongst the many topics you will encounter during your coursework, some of them likely will be more difficult than others.
However, you should not ignore or dismiss difficult topics. Instead, you should work on improving your understanding by deliberately practicing it and clarifying your doubts.
Try working with a study buddy or seek assistance from a Georgia real estate prep course provider.
Every student has that one subject that seems complex to understand and tedious to memorize. If you feel the same, take it as a challenge to understand it better and master it.
Real Estate Practice Exam Georgia
Importance of Practicing with Sample Exams
Ask any successful real estate agent or broker for tips for passing a real estate exam in Georgia and they’ll point you towards sample tests.
Taking sample exams and mock tests is your best bet for preparing for the final exam by mimicking the experience.
Completing as many mock tests as possible is a proven way to improve your speed, accuracy, and confidence.
Try to incorporate sample tests in your study routine and make sure to assign a specific number of hours every week to practice them.
Where to Find Real Estate Practice Exams for Georgia
Looking to get your hands on practice exams and sample tests in Georgia? The best way is to enroll in a top-rated yet affordable pre-licensing online course that is approved by the GREC.
Numerous online and in-person college and course providers in Georgia can give you access to sample exams.
The easiest way is to enroll in an online course where you can grasp the concepts and use mock practice tests to experience the real-world scenarios you will face in the final exam.
Additionally, you can get guided help and assistance with practice questions to help you clarify your doubts and prepare for the exam topics.