I have never really believed the Real Estate exam they administer in California to be effective or on target with how a newly practicing Real Estate agent should proceed. In fact, just because there are a certain set of do's and don't doesn't mean or guarantee a licensed result whatever that is. Just what is licensing and what is it supposed to do or not do?
SIMILAR TO A DEGREE
Its not the degree one walks away from when leaving college but how it is activated and wielded on the job. How can any degree prepare anyone for what is to come? All it can do is get a person started in learning about the practical application only found in the trenches, on the job & in the field of experience
THE QUESTIONS ON THE REAL ESTATE EXAM
Let me first start out by saying that the prep courses for the exam are no different than the exam itself in rubber meets the road practicing of Real Estate. Prep courses prepare you to take and pass the exam. The exam itself sets you up to be able to receive a license but based on what? Hypothetical? What if's?
THE CORE PREP
Essentially you are going to memorize data and hopefully be able to retrieve it if and when it is needed. It is all data-based and where it actually introduces the subject matter you would think common sense does the rest. Not so on the exam. I tried using common sense to answer questions and got them wrong
TO THIS DAY...
I don't recall too many meaningful and purposeful data that was used to test me and help me get licensed being used or applied as I went about learning how Real Estate actually works. Real Estate itself is fairly simple. After all, the land just sits there with a house on top. But here is what is needed
Who lives in a property and how did they get there? How does the next fellow get in and the current guy get out? Ask yourself this: What would you want to know before handing someone hundreds of thousand's of dollars? What standard should the one getting the money be held to? That's where the real need to know begins and I believe more time should be spent on those exams questions
Ever see these guys climb up the side of a mountain without a harness but just a bare hand-hold? One slip and its over. Real Estate is also high-risk when it comes to losing money, making money, getting sued or making a smart purchase. That's why diligence is so important. Upfront relevant work
AN EXAM THAT COVERS ETHICS?
Can we really regulate character? How about honesty? All we can do is define the rules of engagement and hope everyone adheres or rises to the occasion. Unfortunately they don't! You may ask: Richie how can you say that? Well it is right there if one pauses to look at it. Lets look at it then.....
Real Estate is a familiar subject in the courts just because of its high risk and expensive nature. Furthermore, the Department of Real Estate runs a back-log for complaints and violations enforcement. Want more? Local Realtor offices have professional standards and grievance committees for complaints against agents. Lastly, speak to anyone who has Real Estated and they have a story to tell
REAL ESTATE A VAST SEA
Real Estate is broken down into so many categories too numerous to list. However, they all come under investing, buying and selling. You can also build on it, loan on it, lien it, flip it, hold it, develop it, appraise, borrow against, insure, remodel, rent it and squat on it. Litigation lurks everywhere too
HOW TO HANDLE REAL ESTATE
No matter what you do with it, it is done step by step & for good reasons too. For one thing, it is easier to clear a step than a jump. For another, moving forward in a responsible way helps all involved. Many other trades join in too. Title insurance, escrow, termite, inspectors, contractors, repairman & the like
THE WILD CARD... PEOPLE!
Everyone thinks they know Real Estate but it is only intimate to those who live with it, practice it and handle it often whatever which way. One thing doesn't change however and that is the people. There is no one formula to fit every person so here is where I believe the exam should prep agents more....
You are going to be dealing with the nature of humans, a vast bottomless pit of experiences filled with surprises, pleasures & pains but regardless it is necessary to be able to navigate through it all to a finish. Learning how to deal with all the personalities & behaviors while transacting is a must know
It should be written by seasoned experience in the field agents in the different categories in simple-ease language and be discussed, role-rehearsed and assessed for its value in the subject matter one is getting licensed for. The rest of the learning curve, the post licensing issues will always do its part.