If you are looking for more information on real estate investing, then you have come to the right article. Many people choose to invest in properties to ensure a solid income for years to come. What it takes to be a pro is to make only wise business decisions that yield great results. Keep reading for some insightful tips!
Before you begin investing, take stock of the market and do your research on properties. Check out anywhere from 50 to 100 properties in your desired location, and take notes in a spreadsheet. You should take into account things like repairs, rental potential, and desirability of location. This will allow you to target the right properties.
Never give up if you ever experience a setback with your plan and strategy. The real estate market is filled with many great and bad times, so make sure to stay strong if you hit a lull in your search. Persistence is the key to success when dealing with real estate.
Careful not to overextend in terms of buying property. Real estate investing is very exciting, and sometimes it can get the better of you. You may bite off more than you can fiscally chew. Know your numbers and your budgets and stick with them. Even if it seems like an easy flip, don’t go past your budget!
Always be on time when you set up a meeting with a potential client. This will indicate that you mean business and will show no disrespect to your potential customer. Coming to a meeting late shows that you are unorganized and do not care about your customers, which will cause you to lose them.
The state of Georgia is one of the most populous states in the U.S., with large urban real estate markets like Atlanta and traditional communities like Savannah.
Georgia has some rules for those who want to become real estate sales agents and connect buyers and sellers with the diversity of properties available within the state.
Those who want to sign up to become Georgia real estate agents should understand these requirements and processes for successfully getting a Georgia real estate license.
Examine Eligibility Requirements
In the state of Georgia, the Georgia Real Estate Commission has created specific pre-licensing education requirements that apply to all salesperson applicants.
Applicants must successfully complete 75 hours of pre-licensing coursework approved by the GREC.
The state also accepts two alternatives noted in a guide book from PSI, the company responsible for administering the test.
One alternative is successfully completing 24 or six semester hours of coursework related to real estate from an accredited U.S. or Canadian college or university or some other equivalent coursework.
Certifying officials will need to look at your school transcript if you are utilizing this option.
Another option provides that salesperson applicants can show 75 hours of pre-licensure coursework done in another state or any Canadian province.
Applicants also need to be 18 years of age or older and have graduated from high school.
Finding a Real Estate School
One critical step is to find the right online real estate school or other real estate training option for pre-licensing coursework.
As mentioned, this GREC maintains a list of approved vendors.
Beyond that, it’s important to evaluate schools according to how they help students to prepare for a specific state exam.
In the state of Georgia, the salesperson exam will consist of 152 multiple-choice questions governing the general areas of recall, application, and analysis.
Topics to be covered include agency relationships and contracts, real property ownership and interests, finance, real property, marketing regulations, property management, and real estate calculations.
Like other state exams, Georgia’s will touch fundamentally on two areas of real estate knowledge – real estate principles, or the guiding laws and regulations involved, and real estate practice, practical hands-on issues that salespersons will encounter in the field.
It’s important to understand some of the basic topics covered in the Georgia salesperson exam.
These include fair housing laws, the organization of the state commission, substantial regulations, and unfair practices.
In terms of real estate practice in Georgia, there’s the attention paid to sales contracts, listings and agency work, property management, and community association management.
It’s important to note that in the state of Georgia, Community Association Managers take their own exam with 25 hours of pre-licensing coursework required or some college or university equivalent.
Evaluating State Exams by Looking at Practice Answers
As with other state real estate exams, it’s helpful to drill down and look at the kind of content you’ll encounter on the test before going in to complete the exam.
Completing the Background Check
In order to take the test to become a real estate sales agent in Georgia, you need to complete a background check.
The GREC requires applicants to get a Georgia Crime Information Center (GCIC) report that would detail any criminal history on their record.
This report is available from any Sheriff’s office or other local law enforcement department.
It is good for 60 days from the date that you get it, and you should bring this document to the PSI testing center in order to get it on record.
Pay All Applicable Fees
The background check may cost up to $25.
In addition, there is a typical charge of $121 to take the salesperson exam.
Complete Lawful Presence Verification
Another key verifying step is to take your lawful presence verification notarized affidavit with you to the exam as further proof that you have met licensing requirements.
- How long does it take to become a real estate agent in GA?
You must successfully complete 75 hours of Georgia Real Estate Commission-approved real estate education. Complete the 75-hour requirement with our commission-approved education. Select the course that’s right for you on the Georgia Salesperson Licensing Course page.
- How hard is the Georgia real estate exam?
The national portion of the Georgia Real Estate salesperson exam is comprised of 100 questions. In order to pass the test, an examinee must answer 75 out of the 100 questions correctly (75% correct). … An examinee must answer 39 questions correctly to pass (75% correct).
- Is getting your real estate license worth it?
Getting licensed takes both time and money – not something every new investor has. If you can use your real estate license for deals, networking or to save or earn more money, it is worth the investment. Of course, you can always work with licensed people, but sometimes having your own avoids a lot of hassle.