The most recent revision to the exam was in 2017, so there is now a slightly older version of the test. There have been several changes since it was first given in 2005. These include changing the order of the questions asked, adding new question types, and altering how some questions are structured.
The way that the ARA determines how many questions an individual will be exposed to during testing varies from state board to state board. Some boards only find out what number of questions an applicant has until after they take the test, which can sometimes lead to being placed into a higher level or lower level license depending on whether you were able to avoid too many of them.
Some states require a certain amount of time passing before applicants get their full licensing capacity, which could mean having to retake the test if you happen to miss a few questions. This is not ideal for anyone involved!
Fortunately, like with any career field, people make money by studying and practicing for exams. While it may feel difficult at times, there are plenty of resources available to help you prepare.
Communications skills
In addition to asking appropriate questions, being able to listen is an integral part of being a real estate agent. You will probably have to do some listening in your career, whether it’s to your clients, colleagues or both!
It sounds obvious, but many people forget how important it is to be able to pay close attention and understand what other people are saying. This can apply at home, at work and even while talking with friends.
If you’re someone who loves talking about yourself, then thinking about how to ask good questions helps. If you’re more introverted, practicing this skill could help you get into the habit of listening more.
People may not know they need to talk about themselves until they try, so don’t make assumptions unless you want to find out why they sometimes seem closed off. Listen, and if they bring up something that seems relevant, follow up by asking another question or giving them the chance to tell you more.
Commercial awareness
The other major topic area on the test is what we refer to as commercial awareness, or business expertise. This covers things like how to identify if a property’s use is prohibited under zoning laws, whether certain licenses are needed for someone conducting a business from their home, etc.
Some people may not realize it, but being able to identify such prohibitions can be very lucrative in terms of making money off of your real estate investments. For example, knowing that an office building you own is used exclusively for professional services means you cannot lease it out, which would potentially yield large profits. Or perhaps you know that there is no way to legally convert a house into a restaurant, so you pass on buying a restaurant franchise because you don’t want to be limited in where you can sell food.
This kind of knowledge really only comes with time and experience, though.
Financial responsibility
The other major requirement for becoming a real estate agent is having enough financial resources to run your business. This includes having sufficient cash to pay monthly rent or mortgage, license fees, utilities, etc., as well as an adequate amount of savings to cover emergencies that may arise.
Your chances of being successful in this career go up if you are aware of how much money you make per hour as a Realtor so you can compare yourself with others in the field.
It’s important to be honest when asking for a salary offer as some companies will try to take advantage of you by offering you a lower paying position than what you are worth.
They may even lie about their budget to seem more attractive to you. Never accept such offers!
Never become too dependent on your income as a realtor because at any moment it could disappear due to no fault of yours. You must prepare for such situations and have a backup plan.
Marketing and advertising
As I mentioned before, being familiar with marketing and advertising is a very important part of being a real estate agent. It is also one of the most difficult to learn, as there are so many ways that agents use advertisements and branding in their business.
That’s why it’s so hard to find someone who really knows how to do it well – you have to be trained on all different types of media marketing strategies, not just reading ads for a house once!
But learning about advertising isn’t only limited to reading articles and studying books, although those are great resources. There are many more ways to hone your skills outside of the classroom as well.
You can take courses at community colleges or private schools, join groups online where people share tips, or even create your own advertising by doing things like writing slogans or coming up with creative ideas.
Whatever route you choose to go, make sure to stay within legal guidelines, keep what is appropriate to a professional level, and try to experiment with new styles and techniques frequently.
Understanding of the law
The ability to identify what is and isn’t allowed under the laws governing real estate agents and brokers, as well as how to handle situations involving clients breaking those rules, are very important skills for anyone aspiring to become an agent or broker in this state.
There are several courses and certification programs that offer such training, usually with lots of costs involved. However, there are some websites that offer free quizzes to determine if someone has taken the necessary steps by offering “practice tests” to see whether or not they have learned the needed material.
Time management
The most difficult part of taking the real estate exam in Arizona is time management. You will be given 65 minutes to take the test, but you have to plan for at least 70 minutes to really focus on it.
The test writers will likely put out a lot of tricky questions very quickly, so they may go by too fast. They also like to use lots of figures, which can make things slow down as you try to find the right source for them.
Become familiar with the material! Take your time and do not worry about passing this day’s test. Just concentrate on learning and understanding the concepts well. When it comes time to take the test, you will know the content much better than if you were trying to rush through it.
Also, don’t underestimate the importance of having good sleep before the test. Research has shown that people who slept less than six hours prior to a test performed worse than those who had longer sleeps.
