This post will go into the various aspects of getting an Arizona real estate license with focus on the pre-licensing coursework, a crucial step to cross to get a license.
If you want a successful and rewarding career in real estate, you must have a real estate license issued by the Arizona Department of Real Estate (DRE). It is the controlling body for the real estate sector in the state and is responsible for issuing licenses and setting requirements for getting one.
However, before going into the details of the Arizona real estate license course and the other norms to get a real estate license, let us examine the Arizona real estate market and trends to know whether it is worth the time and effort spent to get an Arizona real estate license.
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Arizona Real Estate Market & Trends
It is expected that the Arizona real estate market will be more balanced and stable than in previous years, going by key economic and real estate indicators. Phoenix is predicted to make the top 10 list of housing markets in the country based on a homeownership boost given by continued job and income growth.
The primary trends and predictions of the Arizona real estate market are as follows.
- Inventory: Year-on-year growth is expected in 2025, mainly due to expected lower mortgage rates. This would power potential homebuyers to buying a home that meets their budget and needs, an action that they had previously shied from due to above average mortgage rates.
- Home prices: There should be a rise in home prices in 2025 due to an increased demand but more gradually than in recent years. This would be due to a rise in inventory and a potentially more friendly market conditions favoring buyers.
- Mortgage rates: Rates which had been on a high are expected to stabilize around 6%in 2025. This opens the market to buyers and an increase in the demand for homes.
Given these favorable real estate market conditions, it makes sense to get into the profession as a real estate agent in Arizona.
Getting A Real Estate License In Arizona
Let us now go through the steps to get a real estate license in the state of Arizona.
There are certain requirements to fulfill before you can apply for a real estate license in Arizona.
- Be at least 18 years old to apply for a real estate license in Arizona.
- Must be a citizen of the USA.
- Have a high school diploma or an equivalent such as a GED.
Legally admitted aliens in the country with working rights may also apply for a real estate license in Arizona.
Once these requirements are fulfilled, you can get down to fulfilling the norms for getting a real estate license.
Arizona Real Estate License Course
You must complete 90 hours of pre-licensing coursework. This is stipulated by the Arizona Department of Real Estate (DRE), the body that decides the topics for the pre-licensing courses and issues real estate licenses in the state. Since it is the controlling authority, the course Arizona real estate license course provider you select should be approved by the DRE.
Any other course will not be counted as having completed the 90-hour coursework to appear for the licensing exam. Hence before investing in a course, visit the DRE portal to check the list of approved course providers in Arizona.
Apart from the 90-hour pre-licensing course, you must also go through 6 hours of Contract Writing classes. Successful real estate transactions depend a lot on accurate and error-free contracts that will not get you in legal trouble later as a real estate agent. This is the reason for additional instructions in this niche.
For a top Arizona real estate license course, check the online DRE-approved provider RealEstateU. They offer lessons that are not only of the highest quality but also very affordable.
The full real estate pre-licensing course in Arizona has 19 online sessions and 18 classroom-based ones. Both the sections are not interlinked and you can complete them in any order per your convenience. However, while you can study at your own pace, you must complete the 90-hour coursework within six months of enrollment with a course provider.
You should keep another factor in mind while choosing an Arizona real estate license course and that is whether you want to select a classroom-based course provider or an online one. While the decision will be entirely based on your preferred learning style, online classes have an edge in convenience and flexibility.
Online courses can be downloaded onto any Internet-enabled device, allowing you the benefit of studying from anywhere and at any time. Moreover, those starting in this field and are otherwise engaged can go through an Arizona real estate license course without disrupting normal routines.
Fulfilling Other License Eligibility Norms
After completing the pre-licensing coursework, submit your fingerprints for verification of past criminal records. A license might be denied to you in case of a felony conviction though it is the discretion of the DRE to consider each case favorably or not.
Now, visit the DRE portal and schedule the licensing exam. On the appointed date, you must physically visit the center selected by you to sit for the test though the exam is held online. The test questions are in multiple-choice format and you should get at least a 75% grade to clear the test.
Find a licensed real estate broker to mentor you. You can bank on the rich experience of a broker to successfully launch your career.
Finally, apply for a real estate license in Arizona online on the DRE portal.
