Recent studies show that the realty business in Virginia Beach is experiencing steady gains despite high property prices. A favorable economy and positive market trends have been at the heart of the growth.
The appreciation of properties has made Virginia Beach the perfect destination for homeowners and investors willing to cash in the growing market. All of these hallmarks make it a fantastic place for new relators who want to build a successful and rewarding career.
You must have a practicing license to sell, manage, and appraise properties in Virginia Beach. Here is where we come in. This article will guide you on everything from prerequisites for becoming a realtor to which schools offer the best programs and what to consider before signing up for a real estate program.
What Are the Prerequisites?
The DPOR is responsible for setting the enrollment prerequisites in the Old Dominion State. All applicants must be 18 years old and above. You must have documents to prove that you completed high school education. A diploma or high school equivalency test, such as a GED, will suffice.
Applicants must prove that they have good moral standing. You must mention convictions within your record that happened within the past five years. The DPOR will evaluate your application and decide whether you are eligible to become a realtor in Virginia Beach.
The most challenging bit is choosing the perfect school in Virginia Beach that meets your education and learning needs. Below are some top real estate schools, not ranked by any order.
RealEstateU
RealEstateU is considered one of the top online real estate schools in Virginia Beach. It is famous for providing quality courses to help students turn their dreams into reality. Their programs are cost-efficient and perfect for anyone who is on a strict budget but wants to become a realtor anywhere in the USA.
Their courses are available for two years after purchase, which is a good deal, giving you ample time to complete the pre-licensing program without too much pressure. What we love the most about RealEstate4U is its diverse range of study plans, with the cheapest being under $200.
The Real Estate School of Virginia Beach
Priding itself as the go-to school for anyone who wants to work as a relator in Virginia Beach. The school also offers pre-licensing and continuing education programs. They also employ a team of experienced tutors (all professional realtors in VA) to provide valuable insights and guidance to students.
Alpha College of Real Estate
Another top mention, especially for those who prefer in-person lessons. Offering day and night classes, this school caters to those who cannot find free hours during the day to attend the lessons. You can also mix it up by signing up for hybrid classes, which is a more flexible option for people on a 9-5.
The school also provides students with additional resources such as exam preparation materials, career services, and networking opportunities. The reviews are positive, a sign that you will get value for your money.
In the upcoming section, we delve into the pre-licensing program, exam, and license application processes.
Pre-Licensing Program Curriculum
Compared to other states, VA has one of the shortest salesperson pre-license programs. The program is 60 hours long and is curated to prepare students for success in obtaining their real estate license.
The curriculum will introduce you to the basics of real estate. You will learn everything you must know about land use, property ownership, and rights. Later, you will delve into the laws governing the realty industry in VA. Here you will encounter state statutes and fair housing policies.
Things will get more interesting along the way with lessons about conducting market analysis. Herein, you will learn about factors affecting property valuation and how to write appraisals, a skill that every professional relator must have.
Another important topic you will cover is real estate finance. You will learn about mortgage financing, loan types available for homeowners, and interest rates. While you are at it, you will be introduced to contract law principles as they relate to real estate transactions.
It is Exam Time
This is a step that most students dread. You have 2.5 hours to attempt 120 multiple-choice questions. The exam is split into state and national portions. Once you have successfully finished the pre-licensing program, you will be required to pay a registration fee of $60 to proceed with scheduling your exams through the PSI website.
You don’t have to worry too much if you don’t succeed after your first attempt. There is no limit on the number of times you can redo the tests. All you must do is register for the exams, pay the fee, and try your luck again.
One Last Step
You are now closer to seeing the cliché light at the end of the tunnel. Submit your application to VA’s Real Estate Board. The whole process can be done online via the board’s website. Upload all of the necessary documents and check your details before clicking submit.
The application fee is around $170 for the salesperson license. However, this doesn’t cover fingerprinting and background checks. The background check is done to ensure that you meet the state’s honesty and trustworthiness standards for licensure.
Processing and approval time may vary, but you can typically check the status of your application online through the board’s website.
Internship Opportunities
With your license in hand, you are ready to work as a realtor anywhere in VA, including the coastal city of Virginia Beach. While the state processes your license approval, you are required to work under a broker.
Finding a top brokerage firm in VA to sponsor you is crucial. They will play a significant role in building your career. You will also build solid professional networks that will help you later in your professional journey.
Wrapping Up
Here, ladies and gentlemen is a breakdown of everything you need to know about real estate schools in Virginia Beach. Do your research and ask for recommendations before enrolling in any realty program.
It is a career worth investing in, especially if you plan to work in Virginia Beach, where the market looks promising.