Did you know that, according to FirstTuesdayJournal, the number of resale and new home transactions that closed escrow in the month of August 2021 was 48,100? This number was 15% higher than what it was a year earlier.
Considering how many homes are selling in California, you might be considering getting a real estate license in California online. After all, with all the opportunities in the real estate industry, this is a great way to start your career or switch to a new one.
However, you might not be sure where to get started. This can be stressful. How do you know how the process works?
Fortunately, in this article, we’ll review everything you need to know about how to get your California real estate license online.
Finally, you can take the classes and exams you need, starting an exciting new real estate career. Read on to learn more.
Prequalification Requirements for Getting a Real Estate License in California Online
Before you start looking at online courses for your California real estate license, you need to ensure that you meet the prequalification requirements. First of all, you need to be at least 18 years old. Both California residents and non-residents can get this license.
However, if you’re a non-resident, it’s important to understand that California doesn’t have reciprocity with other states that make it possible for them to allow a waiver for any requirements needed to obtain a license.
This said, for the real estate broker license, evidence of completion of the statutory courses for the certification in out-of-state institutions can be acceptable.
This is the case if these institutions have an accreditation from the Western Association of Schools and Colleges or a regional accrediting entity that is comparable.
Additionally, each course must have provided credits of four quarter-units or three semester-units.
Of course, if you’re just starting out and haven’t taken any courses out-of-state, you will simply have to meet the course requirements (which we’ll cover in just a moment).
Finally, to prequalify, you must be truthful and honest. If you’ve been convicted of a crime, this could result in a license denial. Additionally, if you don’t disclose any disciplinary action or criminal violation, this could also result in a license denial.
The Completion of 135 Hours of Pre-licensing Education
To begin your journey of getting certified and starting your own real estate practice, you need to complete 135 hours of Pre-licensing education. When choosing the right online real estate course, you should make sure it includes these hours and the following specific courses.
Real Estate Principles
All real estate agents in California have to take the Real Estate Principles course to get certified, which is a total of 45 hours. This course will cover real estate laws, economic aspects of real estate, and the basic principles of real estate.
You will gain knowledge of contracts, agencies, homesteads, liens, encumbrances, estates, legal descriptions, taxation, planning, urban economics, tenant and landlord relations, and leases.
You’ll also learn about title insurance, escrows, appraisals, the role of lenders, and financing.
Real Estate Practices
Whether you’re completing pre-licensing course requirements through an online continuing education provider or an online university, you’ll have to take a Real Estate Practices course. This course takes up 45 of the 135 required hours you have to complete.
This course will cover what it’s like to work day-to-day in brokerage practices and real estate sales. The emphasis will be on the selling and handling of real estate transactions from the moment they’re listed to closing.
You will gain knowledge of expediting escrow, closing the sale, financing, advertising, and how to qualify and secure prospects and listings.
You’ll also learn what it’s like to own and operate a real estate business. This will include developing community relations as well as maintaining them. It will also include managing office personnel and salespeople.
Real Estate Finance
Finally, when it comes to the education required for getting your California real estate license online, you need to take the 45-hour course Real Estate Finance. When you take this course, you’ll learn about the techniques of financing real estate.
This will cover both non-residential and residential real estate.
Additionally, you’ll learn to identify and analyze the variety of instruments one uses to achieve these purposes.
You will gain knowledge of the parameters, characteristics, and sources of mortgage capital.
You’ll also learn about government-assisted financing (like SBA, FHA, and VA), and how one holds a title, and what the real estate tax effects of this are.
The Pre-licensing Final Exam
Once you’ve taken the 135 hours of education courses required, you’ll take your pre-licensing final exam. A good online course will provide you with exam prep for this test so that you’re ready to take it. You must pass this exam with a minimum score of 70%.
Note that you have two attempts, so if you don’t pass the exam the first time, you’ll still have a chance to do so. Additionally, note that the state of California requires you to wait at least 18 days between the taking of final exams.
This is a multiple-choice exam with 100 questions. You have 180 minutes to complete it. It is an open book exam. There isn’t a proctor required for this exam.
When searching for online courses that prepare for your getting your real estate license online, make sure that they prepare you for this exam.
This way, you can be prepared to take it when you’ve finished covering real estate principles and other subjects in your required coursework.
The State Licensing Exam
After passing the final exams of your online course, you need to take and pass the California licensing exam with a score of at least 70%. This real estate license exam has a 3 hours and 15 minutes time limit and includes 150 questions that are multiple-choice.
When you’re choosing an online course, make sure that they cover this exam. That way, you’ll be prepared to take this exam and pass it so you can meet this requirement for receiving your license.
Final Steps
Once you’ve completed the coursework and passed the exams, you need to select a sponsoring broker. This broker must be active and in California. It’s important that you find one that’s the right fit, so you should ask questions such as:
“What is the broker’s reputation, nationally and locally?”
“Will it be possible for me to grow my career within this brokerage?”
“What is the commission structure at the brokerage?”
“Do they provide educational and training support for their new agents?”
Once you’ve chosen which brokerage you want to sponsor you, you have to complete your licensing application.
If you haven’t filed your License Combo Application, then, after you’ve successfully passed the state licensing exam, you’ll receive a Salesperson License Application (RE 202).
You must fill out this form and return it with the right fee within one year of having passed the examination.
Then, you need to ensure you meet the fingerprint requirements. Until this occurs, you won’t have your license.
To meet these requirements, you need to submit fingerprints that are classifiable and that the State Department of Justice considers to be acceptable.
You can learn more about this process on the DRE’s website.
Applying for Your License Online
The California Department of Real Estate makes it possible for you to apply for your license online now. To do this, go to the DRE’s eLicensing Online website. There, you’ll be guided on which steps to follow to complete your application online.
Once you’ve received your license, you can easily find it by going to the Department of Real Estate’s eLicensing Online website, too.
When choosing an online real estate license course provider, it can help to choose one that provides you with guidance on how to complete these final steps.
This way, you can start your professional development quickly and take the real estate express road to success.
Need More Information?
Now that you’ve learned about getting a real estate license in California online, you might need additional information. Maybe you want to learn more about what specific principles, practices, and finances are covered in the courses. Or maybe you want to take an online course.
Whatever information you need, we can help. At My Real Estate Practice, we’re experts when it comes to getting your California real estate license online.
To learn more about how we can help you, contact us now.
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