Studying for your real estate exam can be an exhausting and exciting ordeal. After you have passed all of your prerequisite material and are finally studying for your exam, you will realize that there is a lot of material that can be included. This leaves you with an immense amount of subject matter to absorb before exam day.
While it is never certain what will be on your exam, there are a few common real estate exam prep guidelines that passing students have followed. Before drinking 10 cups of coffee and cramming all night for your exam, follow these real estate study tips that are sometimes forgotten as they’re too simple, and trust me you shouldn’t miss them if you want to pass.
1. Study Big Concepts
There is a national portion included in every exam. There are over 100 questions that may be asked during this time and each state will have their own set number of questions asked. By ensuring you cover the big concepts, you will boost your chances of passing the exam the first time. These concepts will include:
- Marketing regulations
These are the big 5 and they will encompass the vast majority of the national part of your exam. Concentrate on these areas first.
2. Read over the Question
One of the most important and basic real estate study tips is to read over the question multiple times before answering. Oftentimes, wording can cause confusion and lead to a wrong answer being given.
Before marking a final answer, ensure that you fully understand the question. If you do not have an adequate answer, move on to the next question and come back later. This will allow you time to try and determine what the appropriate answer to the question is.
3. Know Your Vocabulary
Real estate jargon or vocabulary is very important. You will not have time to go over basic vocabulary during your exam, so ensure that you have all of the basic vocabularies down before test time. This will include terms such as chain of title, escrow, examination of title, and dozens of other phrases that pertain to the real estate industry. The Dictionary of Real Estate Terms is a great resource for learning all of the necessary terms before your exam.
4. Use the Process of Elimination
Perhaps the most basic real estate study tip is to use the process of elimination. If you do not know an answer, eliminate all of the answers that you know are not correct. This will raise the chances of you guessing the right answer. This should only be done on questions you truly do not know.
5. Take Exam Prep Courses
There are exam prep courses online or at local schools. These courses are often paid and will be a great way to practice for the exam.
Included in these real estate courses will be all of the topics needed to pass your state exam as well as all of the extra material that you might not consider studying. The best part is that these prep courses are backed by years of experience and professors that are responsible for others passing the test. If you choose a reputable prep course, you will increase your odds of passing greatly.
6. Schedule Your Exam Quickly
It doesn’t make sense to take all of your required courses and wait to take your exam. By waiting, you will likely forget some of the most pertinent information included. Instead, you will want to schedule the exam as quickly as possible after your classes are complete. This will ensure that all of the information is still fresh in your mind and will result in less overall studying.
7. Double-Check Your Math
One of the biggest errors that a person can make is to assume that his or her math is right the first time. Questions are presented that contain answers that are purposely there to confuse you. Instead, ensure that any math that is given or that you have done yourself is correct. Most people that fail the state exam make errors on the easiest of math problems.
Real estate exam preparation should not be taken lightly. You must allow enough time to study the material and try to focus on the most important material first. By allowing yourself at least 5 weeks of studying, you will greatly increase your chances of passing your licensing exam.