Virginia Real Estate License Guide

If you live in Virginia, and have an interest in the real estate market, one thing you are probably considering is getting a Virginia real estate license. And rightly so. Having a real estate license will give you such a competitive edge over other real estate investors in your area. And with a little effort, you could make it a full time income. So let’s look at a few of the benefits of having your license, and some of the costs.

First and foremost, when you are a real estate agent, you have the opportunity of being able to access the MLS (multiple listing service). This is usually an online service, and will allow you to be able to survey the entire local market, list your own properties or client properties, and see what is available for sale by other agents/brokers. Not only that, but you’ll be able to analyze past data to see what other similar properties have sold for in the past.

This kind of information is priceless. Knowing what you can sell a property for before you even buy it is the real key to success in real estate investing.

Aside from the MLS, you’ll also be able to save the commission (at least part of it) on any deal that you do yourself. With the typical real estate agent fee being about 6%, that is quite a savings…

Let’s look at a quick example, let’s say that you sell your own house for $200,00. If you hired an agent, you would be looking at paying them a whopping $12,000. So if you could put that money in your own pocket, or use it in your negotiations with the buyer, wouldn’t that be great?

I sure thought so, that’s one of the reasons I got my own real estate license!

Now, let’s look at some of the costs. You are going to have to take some pre-qualified Virginia real estate courses in order to qualify for your license. At less than $200, this isn’t too bad. Next, you’ll have to fill out an application and pay a state fee of $170. Lastly is the test, and getting setup under a local broker. All in all, you get the whole thing done for about $400.

And taking our example above, and subtracting out these costs, you are looking a net gain of $11,600, on your very first deal!!

Sound good to you?

That’s exactly what I think, and now I’m a licensed real estate agent, making money!

So here’s the real meat of this guide. I want to walk you through, step by step, exactly what the Virginia real estate license requirements are. Compared to some other states, the Virginia requirements really aren’t that bad. Alright, enough chatting, let’s get into the requirements…

Now I’m not an attorney (you can read the state’s law here), but here’s the gist of what the requirements are:

1. Be honest.
2. Pass all of Virginia’s required real estate education courses.
3. Not had previous disciplinary action or revocation of license in any area.
4. Report all past felony convictions. Report all misdemeanor convictions involving moral turpitude, sexual offense, drug distribution or physical injury within five years of the date of the application.
5. Be at least 18 years old.
6. Have a high school diploma or equivalent.
7. Submit a completed application.
8. Pass the state approved exam within 12 months of submitting a completed application.
9. Follow all exam procedures.

If you don’t meet all these requirements, you may still be able to get your license, but you’ll need to get special approval from Virginia’s Real Estate Board.

As I have talked about before, there is a fee involved to file your application, and it is currently $170. The coursework can be done online at a cost of less than $200. So all together you can get your license for about $400 or less. This may sound like a lot, but it really isn’t when compared to other states. Texas, for example, has a lot more required coursework, and generally and applicant will pay around $500 at least (and that is with some college credit counting toward their education) just to do the required coursework.

So it isn’t real bad in Virginia. So if you are on the fence about this, I’ll encourage you to go for it!

Since I got my license, I have saved and made a lot of money in real estate.

And I only do it part time!

If you are looking for a complete and quick Virginia real estate license course, then I have exactly what you need. You see, since getting my real estate license, I come to understand that the fastest, best way to knock out the required education piece of getting a real estate license in any state is to take the courses online.

But don’t allow yourself to be misguided. You must complete your educational requirements with a Virginia state approved education provider, otherwise they will more than likely deny your application for license. To bypass having to go out and search and search for different providers, use this Virginia real estate license educational provider.

They are state qualified, and have nice all in one packages that quickly take you through everything you need to learn in order to become licensed, all at very reasonable prices.

It’s either do it the online, quick and easy way, which they offer…Or go out and spend the money on getting instructor led classroom environment courses. Personally, with the hassle and expense of driving to where it is, perhaps having to give up several days or weeks of family time or work, I’d rather just get it done online, in the comfort of my own home, and at my own pace.

I’ll leave it up to you. Just remember to make sure that whatever decision you make, you get your education through an approved institution. I would hate to see you go through all the trouble, and then get denied your license because the outfit wasn’t qualified.

All right, if you have made it to this point, you have finished all of your required Virginia real estate license education, you have submitted your application, paid your fees, and all you have left to do is to take the state required final exam. Don’t feel too pressured; you can take the test again. However, I have some great tips here that can help you to pass the test on your first try, just like I did!

OK, so here’s the deal. The test is more than likely going to be standardized, aka multiple choice, and there are some great ways to beat the scan-tron, without cheating.

Let’s take a look:

• Set your alarm on the eve of testing day to early. Show up to the test location early. This will ensure that you aren’t rushed and experience additional stress just getting to the testing center.
• Take a few deep breaths, and pump yourself up. KNOW that you are going to pass. Confidence is crucial here.
• Ask someone at the testing center how much time you have to take the test, and how many questions are on it. Then punch that into your calculator and figure out how much time you have to answer each question.
• When you are taking the test, if you start to go beyond that time amount on any particular question, just answer it, mark the question number on a scratch sheet of paper, and come back to later – if you have time.
• Read each question entirely. Test writers love to throw little words like “no” and “not” in there just to throw you off. These things change the meaning of the question, and thus the answer. Look for these.
• Try to cross off wrong answers when you aren’t sure which one is right. If you can get it down to a choice between 2 answers instead of 4 or 5, you stand a much better chance of getting it right.
• MOST IMPORTANT: Answer all questions. An unanswered question is a wrong answer! Make sure to answer each one, even if it is a complete and total guess.

If you study hard, try to soak up everything you can from the Virginia real estate courses, and follow these simple multiple choice test taking tips, you will be hard pressed to fail. I hope you enjoyed this and let me know what you think by leaving me a comment.

Thank you so much…