Wednesday, October 31, 2018

In North Carolina Real Estate, What is Difference Between Post License and Continuing Education?

When a real estate license applicant goes to real estate school and gets a real estate license in North Carolina, that applicant becomes a "provisional broker" We do not have real estate salespersons in North Carolina.

If a person graduated from First Real Estate School and passed the North Carolina real estate exam, that person would be provisional broker until that person has passed three real estate post license classes.   These post license classes are thirty hours each. 
Post license class is fun at First Real Estate School.  

These thirty hour post license real estate  classes are taught by most real estate schools.  A new real estate licensee can take these classes slowly or quickly.  The slow method would have the new licensee take their first post license thirty hour class BEFORE the first anniversary of passing the North Carolina real estate exam.  Before the second anniversary of getting their North Carolina real estate license, the new provisional broker would be required by the North Carolina Real Estate Commission  to take a second thirty hour  post license course.  Before that provisional broker celebrated his third anniversary of getting his real estate license, he would need to take a third thirty hour post license class.  That is as slow as a new licensee can go through that process. 

If a new real estate provisional broker wanted to go through this process as fast as possible, that new provisional broker could take these three post license classes very soon after getting their real estate license.  Why would a new real estate broker want to do that? 

When that new provisional broker finishes his third post license real estate class, he becomes a full broker.  He could open his own office if he wanted to. 

Simultaneously, once that provisional broker passes the North Carolina real estate exam, another clock begins to tick, the expiration clock that requires CONTINUING EDUCATION.  Every real estate broker, old or new, in North Carolina is required by the North Carolina Real Estate Commission to take eight hours of continuing education every year in addition to the post license requirement required of new provisional brokers.  Yes, I said in addition.  I did not say in lieu of. 

Every real estate broker's license in North Carolina expires on June 30 every year.  Every real estate broker in North Carolina has to take eight hours of continuing education every year.  At least four hours of that education has to be in a classroom with an instructor.  The first time that a provisional broker renews their real estate license, no continuing education is required.  Starting with a provisional broker's second June 30th, eight hours of  continuing education is required to renew that real estate broker's license. 

New real estate provisional brokers need post license AND continuing education.  Old real estate brokers only need continuing education. 

If you live anywhere near Hendersonville, First Real Estate School at 404 S. Main street.  would be happy to help with these educational requirements.  Check our website.  Join us for postlicense education or continuing education.  


Friday, October 19, 2018

Pass Fail Rate for North Carolina Real Estate Exam for September 2018

Last month, September 2018, four hundred and fifty two real estate license applicants took the North Carolina real estate exam.  All of these real estate license applicants had already passed a test at an accredited real estate school in North Carolina.  Two hundred and fifty eight of the real estate license applicants passed.  That is a 57% pass rate.  The North Carolina real estate exam is no joke. 

If you are soon taking the North Carolina real estate exam.  please do not underestimate this exam like 43% of the real estate license candidates did last month.  This is a $164 mistake.  That is what it costs every time you take the North carolina real estate exam.  Pass it the first time. 

Here is the problem.  Most test candidates study like they want to baaaaaarely pass.  Their goal is to make a seventy two out of a hundred on the national portion and twenty nine out of forty on the North carolina portion.  At $164 per opportunity, you need to study like you want to make 100% on both parts of the exam. 

Read the textbook.  There are lots of students that go take the state test without having read the textbook.  Many students go take the exam without answering the questions at the end of the chapter.  Many students go spend their $164 when they have not done the practice test in the back of the textbook.  Is $164 a lot of money at your house?  What about $164 x 5 ?  Is that a lot of money at your house? 

Last month, one hundred and fifty two repeat test takers took the North Carolina real estate exam.  These real estate license applicants knew how tough this test is.  They have already taken it once or twice or five times.  Twenty three of those repeat  test takers passed.  That is a fifteen per cent pass rate.  If you are going back for an encore performance, may I suggest a few study tips for you? 

Watch ALL of my North Carolina real estate math videos on You Tube.   This is free.  It is reasonably easy.  There is no math on the North Carolina real estate exam that I do not have a video for.  The North Carolina real estate exam is fifteen per cent math.  Why would you go take a test that is 15% math when you know there is math on it that you do not know how to do?  Learn to do the math before you go. Read the syllabus for the course that you have already passed.  It tells you exactly what math is on the North Carolina real estate test.  How much money have you budgeted to spend taking this test? 

First Real Estate School in Hendersonville, N.C.
Here is another study tip.  Read the "Comments", Appendix A in the textbook. Seventy five per cent of the questions on the North Carolina portion of the test come straight out of the "Comments"  Read the "Comments" ten times.  If you just can not read this BORING material, I have it posted on You Tube.  I will read it to you.  This will take six videos.  More students fail the North Carolina portion of the test than the national portion.  Read the "Comments".  Last month, fifty two per cent of repeat test takers taking only the North Carolina portion of the exam (at $164 per try) passed.  Forty eight per cent will be back one more time spending $164 at the PSI test center.  You can not pass the North Carolina portion of the test if you don't know what is in the "Comments". 

Have you tried my free practice test right here on this blog?  If not, try it before you try thr PSI test at $164 per try.  Have you taken my practice test at  ?  There are two of them, one for the national and one for the state .  Take them both. 

Have you made flashcards? 

Have you taken a state exam review class? 

Are you getting together with your classmates?  Studying together is a fun and effective. 

Please do not underestimate the North Carolina real estate exam.  It is tough by any definition.  The pass rate is dismal.  It is expensive to fail. 

If you live anywhere near Hendersonville in western North Carolina, please accept my invitation to come interview with us at Keller Williams Realty on Main Street.  It is a perfect place to start your new career.  Call me at 828 755 6996. 

Tuesday, October 2, 2018

Are You Sure You Want To Wait Until Next Year to Buy Real Estate

The older Realtors get, the more they like to tell stories.  Let me tell you the story about the first house I ever sold. 

It was 1974. I was a Realtor in Orlando.  I was showing houses to Terry, a cab driver and Mary, his wife, a waitress.  They felt like the largest payment they could possibly afford was $190 per month.  We found a house in a neighborhood called "Monterey Homes".  The price was $18,900.  The payments would be $195 per month.  We found another house in the same neighborhood that they liked better.  The payments on this house would be $205 per month.  They decided to go for the nicer, $205 per month house.  They bought it.  It was my first sale.

Twelve years later, I was walking through the Fashion Square Shopping Mall in Orlando.  A lady runs up to me, hugs me and says, 'You are Ron Climer You are our family's hero.  I pray for you all the time."  I replied, "Who are you?".  She said,  " I am Mary.  My husband Terry and I bought our first house from you in 1974.  You talked us into paying more payments than we thought we could possibly pay."  We sold that house last year.  We made $38,000.  That is more money than we could ever have saved in a hundred years.  We have bought a bigger nicer house You made it happen by getting us to buy that first house and make those sooooooooo big payments.".

If you are considering waiting or not buying a house to live in because you can not afford those big $1500 per month payments, change your mind.  If the mortgage company says you can afford it, you can afford it.  Watch this video if you do not understand how the bank knows what you can afford. 

Please do not stay in that rental.  You don't own it.  The rent will go up.  Your house payment will never go up.  Tell the Terry and Mary story to your parents.  I am confident that they have a similar story.  Everyone has a story about how they thought their first house payment was impossible.  A few years later, no problem. 

As long as we use paper money, we will have inflation.  There is no better protection against inflation than owning a home to live in with a fixed payment that seemed large when you started fifteen years ago.  It usually seems OK today. 

Interest rates will go up soon.  One per cent of $100,000 is $1000.  Divide that by twelve months.  That is $83 per month.  If you wait until next year to buy that $200,000 house, that is $166 per month more that you are paying for waiting. 

MAAAAAAYBE the same house will cost more money.  Add that to higher interest.  House have been appreciating since 1492.  When Terry and Mary bought their house, an average house in Orlando was $33,000.  Today it is closer to $233,000.  It is the same house.  Watch this video that I posted in 2012.  Time flies! 

Prices go up.  House payments stay the same. 

If you live anywhere near Hendersonville, N.C. ,  call me if you want to become a homeowner.  828 755 6996