Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: SATURDAY, May 5, 1990 TAG: 9005080253
SECTION: AMERICAN HOME WEEK PAGE: AH15 EDITION: METRO
SOURCE: KIM SUNDERLAND
DATELINE: LENGTH: Long
"It's a hard job and it's hard work," said Amy Sullivan, registrar at Moseley-Flint Schools of Real Estate in Roanoke. "It's not your average 9-to-5 job so you have to be motivated to get out there and work every day."
To be a licensed salesperson in Virginia, you must be at least 18-years-old, pass a principles of real estate class, which makes you eligible to take the state exam, and then work for a real estate firm that will hold your license once you've passed the state test.
"It's a tough test, but we've sunk big money into getting people to pass the state exam," said Victor Layman, co-owner and instructor at the Academy of Real Estate, which is also in Roanoke.
The Real Estate Board is authorized by statute to license and regulate real estate salespersons and brokers, according to Joan L. White, assistant director of the Board. To apply for the state exam, the required prelicensing education must be completed.
The various institutions that offer real estate courses, such as real estate schools, community colleges and adult education programs, teach the basic principles and some, usually the real estate schools, help individuals prepare for the state exam.
Academy of Real Estate instructors Layman and his partner Tom Haynie opened their school about 18-months ago. Both are licensed and have years of experience in the real estate field.
They have used their expertise to create their Principles & Exam Prep course, which they said is all you need to get a real estate license.
It's a combination course, costing $275 with classes offered by day or night, that teaches the state-required principles of real estate plus a preparation course for the state exam.
The principles section teaches the basic subject areas of real estate like ownership, transfer, financing, appraisal, contracts, property management, agency law and state and federal laws pertaining to real estate.
Layman said it's a great course whether you want to obtain a license or just want useable information to help act with more confidence in personal transactions.
"Fifteen percent of our students take the course without ever wanting their license," Layman said.
The "Super Prep" section is designed for potential sales people and hopeful brokers. It's designed to "rejuvenate and revive" old study habits so that anyone, of any age, can take the course and understand it regardless of how long you've been away from the classroom setting.
Layman said students are taught how to take the exam, how to pinpoint tricks and how to overcome them.
Moseley-Flint, which has been in the real estate business for 16 years and has offices in Richmond, Roanoke, Charlottesville and Buckingham, also teaches a combination principles and exam preparation course called Principles-Plus. It costs $225 and includes books, as does the Academy course.
Since the real estate board requires 45 hours of concentration on the principles of real estate, both schools offer intensive two week schedules which meet daily from 9 a.m. to 4:30 p.m. every month.
Both schools also offer a roughly seven-week course that meets twice a week in the evening from 6:30 p.m. to 10 p.m.
Moseley-Flint's "Salesman Weekend Exam Prep" and the Academy's "Super Prep" courses can be taken separately from the combination packages for $100 to $110.
Moseley-Flint's is an intense two-day course, offered one weekend a month, that focuses on only the material covered on the state exam.
The Academy "Super Prep" course, offered through a four-day class schedule or for six nights a week for two weeks, is for those who need more information and preparation in order to have the best chance at passing the state exam.
Since programs at community colleges and those offered through adult education don't usually include a state-exam preparation course, Layman said many sales people who fail the test their first time out, will later take a prep course to get ready to try the test again.
"Since not all college and adult education helps, we prep people who already have the principles knowledge, but want to pass the state exam," said Sullivan.
And if you fail the exam, even after the prep class, Moseley-Flint guarantees they will continue to prepare you at no additional cost until you pass that test.
One restriction, however, is that the guarantee applies to classes on a space-available basis. And students may have to purchase new textbooks if the course material changes.
At the Academy of Real Estate, if you don't pass a test, you receive half the tuition back and can continue to prepare at no additional cost.
The state exam costs about $27 with preregistration. Each question on the examination is in a four-option, multiple-choice format with one correct answer. Test scores are based on the number of questions answered correctly.
The Real Estate board distributes a Candidate Guide explaining how to apply for the examination, how to prepare for it, the actual day of testing and score reporting. There are testing centers in Alexandria, Roanoke, Virginia Beach, Hampton and Richmond.
Once the state exam has been passed, there are a number of options for the sales person. Layman suggests that during the two weeks before test scores are returned, interview with at least three real estate firms.
"Go out and interview firms," he said. "You have a choice because every new REALTOR means additional income for the firm."
Layman said a new real estate salesperson can average $15,000 to $25,000 in salary for their first year of work and it can double by the second year.
"You have to build up referrals and make a reputation for yourself," Layman said.
Layman added that selling properties for commissions is only one aspect of making income. Learning real estate also helps the licensee learn buying, fixing and selling for a quick profit and gaining money by the appreciation on investment properties.
Another option after obtaining a license, and while gaining experience at a firm, is to study for a broker's license or become a referral agent.
The next state examination is May 19 and another will be given June 23. Both schools are also offering principles of real estate in the New River Valley.
by CNB