How to prepare for the real estate exam?
Edraw Content Team
Want to know more about how to study?
EdrawMind helps move ideas forward, faster and better. Check out this guide to know how to study for real estate exam and how mind maps can help. Try EdrawMind free now!
Preparing for a real estate exam is one of the most crucial steps that helps you to get a real estate license and become an agent. If you are wondering how to prepare for the real estate exam, then in this guide, you will find all of your answers, including how to study for a real estate exam and how EdrawMind lets you create some amazing mind maps that will come in handy when you set out to create your study plan for your prospective exams.
The real estate exam is usually state-specific; however, most cover the same topics. If we talk about the California state of the United States, the exam will be divided into seven parts.
- Property Ownership & Land Use Control and Regulations
This section of the real estate exam covers the major aspects of property ownership, the designations of different kinds of property, and how they impact real estate sales.
- Laws of Agency and Fiduciary Duties
This section on the Laws of Agency and Fiduciary Duties tests your understanding of the responsibilities of a licensed real estate agent.
- Property Valuation and Financial Analysis
The section on Property Valuation and Financial Analysis tests your ability to analyze the value and method of estimating the property's value.
This section covers all the aspects of real estate transactions, options of financing, types of loans, Finance laws, loan brokerage, and types of loan originators.
- Transfer of Property
The transfer of property section covers all the elements associated with the property, including title insurance, deeds, escrow, tax aspects, and types of vesting.
- Practice of Real Estate and Disclosures
This is one of the lengthy sections of the exam that covers your professional expertise as a licensed real estate agent, including Agency Supervision, General ethics, Property management, etc.
This section covers your understanding of different types of contracts. This includes general agreements, listing agreements, Purchase contracts, Buyer Broker Agreements, etc.
Studying these topics in detail will help you prepare for the test and ensure you cover all the important areas of the real estate exam. If such topics and methods look too complex, you can create a mind map that sorts out your preparation.
The real estate exam is an important step to getting a real estate license. There are several steps through which you can prepare yourself for this exam. These include consulting a real estate friend who has already attempted an exam or finding the right study material. Let us dive into each method in detail.
1 Create a schedule
Setting up a study schedule is the first step to starting your real estate exam preparation. If you are thinking about preparing for the real estate exam, you can create a proper schedule where you divide your day into multiple segments. Remember to include breaks between your studies, as it will help you refresh and study with a clear mindset.
2 Practice mock tests
Only browsing or reading the study material will not assure you the success in the exam. The real estate exam is of a multiple-choice format, and therefore it is always beneficial to practice previously asked questions every day to increase your success rate. You can take practice exams from trusted sources to prepare for your real estate exam. You can then analyze your results and see in which areas you are currently lacking and then make extra efforts to improve your overall performance.
3 Diversify the Study Material
Diversifying or mixing up your study material will help you cover most of the topics and retain more information. You do not get tunnel vision in a certain category while changing the study material. By diversifying, you will ensure that you have maintained your interest level, as you will not be repeating the information you have learned the day before.
4 Use Acronyms
Using acronyms is the tried and tested method of studying to prepare for real estate or other competitive exams. It helps you remember bulks of information easily. You can create a short, fun word or a phrase to remind you of a big information section. This way, you will be able to store more information in your mind. A simple Google search will help you find the best acronyms that every student follows who appears for the real estate exam.
5 Consult an Expert
Finding a friend or an expert, who is preparing for the same exam or has already appeared in recent months, will help you prepare for the exam more effectively. Studying with a friend with a common goal will help you cover more material and create an atmosphere of accountability. Talking to a friend who has already passed the exam will help you understand the areas to focus on while focusing on your current study materials.
6 Read Each Word Carefully
Whether you are attempting a practice test or a real exam, read every word carefully. You may find this tip obvious; however, missing or misleading one word or a sentence can greatly impact your score. Take the time to read each question carefully and choose the answer accordingly.
If you are still worried about how to study for a real estate license, then mind mapping will help you to prepare for this. Since in a mind map, we provide information in visual formats, creating a mind map will help you organize, visualize, and outline the work you need to complete.
1 Develop Your Real Estate Exam Study Plan
Even if you are already organized, you will have sufficient time to study for your real estate exam if you develop some organizing skills. Planning your study hours will help you allocate enough time to each topic and work towards your desired scores. EdrawMind is the perfect tool that lets you visualize your study plan and allocate your time in the best way. This mind map software will help guide you through the final days of preparation for your real estate exam.
2 Reorganize Your Real Estate Exam Knowledge
You must have developed a library of different study materials to prepare for the exam; however, it can get hard to sort through all of them while revising during your final exam week. By creating a structured mind map for your real estate exam, you can logically organize your notes and study material to prepare you for the exam day.
Mind Mapping has always been considered the tried and tested method to get ready for a real estate exam. With EdrawMind, you can draw the mind map for your study plan and exam materials. EdrawMind not only offers free templates that let you create a real estate exam mind map in just a couple of minutes, but it also lets you share your design on multiple social media platforms. You will keep everyone in the loop by sharing your real estate exam planning with your friends or team members.