A real estate license requires a certain amount of math knowledge. Specifically, real estate agents must have a basic understanding of addition, subtraction, multiplication, and division. They also need higher-level math knowledge, including algebra, to better understand real-world markets. Understanding the results of math calculations is critical to the job of a real estate agent, as they need to interpret them to help customers and colleagues.
The exam requires a certain level of math knowledge, but it’s not difficult. Even if you’ve never taken a math course, you’ll need a basic understanding of fractions, decimals, and amortization. The real estate exam weighs these areas heavily. Nevertheless, if you know the basics, you’ll pass the exam with flying colors. Moreover, you can study by reading books and reviewing sample real estate exam questions.
In order to become a real estate agent, you’ll need to pass a state-administered exam. The exam is generally composed of 75-150 multiple-choice questions covering the topics taught in the licensing course. Depending on the state, it can take a few days to a few weeks for the results to come. You can get your license online or in person, depending on the state. You can also find real estate licensing exams at local real estate offices.
Whether or not you’re planning to get a real estate license, you’ll need to know how to use a calculator. Throughout the entire process, you’ll be dealing with decimal points and fractions. The real estate exam requires you to convert between these three different units, and a simple math mistake can result in major problems. A calculator is a useful tool in solving percentage problems, but it’s far from perfect.
Learning area measurements is vital to becoming a real estate agent. There are a variety of units for measuring space, and a real estate agent must know the conversions to make them work. Area measurement formulas are a good reference to refresh your knowledge on these topics. Knowing volume measurements of a space is also essential. You should know how to convert between inches and chains. For example, a chain of 22 yards equals 66 feet, and an inch equals two yards.
The test for the real estate license in Massachusetts has two parts. There’s a national section (80 questions) and a Massachusetts real estate law section (40 questions). You must score 70 on both sections to pass the test. If you fail one of these parts, you have to retake the entire test, or just that section. Getting a real estate license takes two years, beginning the day you finish a 40-hour course.
While some states require agents to belong to associations, other brokerages encourage them to do so. Membership in these organizations provides an added level of credibility in the marketplace. Members of each association have access to networking opportunities and other benefits. Similarly, membership in an association can lead to discounts on software or services. However, you must remember to do your homework before you join an association. For example, it is important to learn about the various types of licenses.