We hear a lot about short sales and foreclosures in our current real estate economy, but what exactly is a short sale and what is involved?

A short sale occurs when the outstanding loans and liens against a property are greater than the proceeds of the sale of a home. A homeowner may consider this option if they are facing foreclosure or they need to sell in a down market. A homeowner must meet certain qualifications and the lenders must agree to allow a short sale. Read the rest of this entry »

One of the first steps you need to take after passing your real estate exam and getting licensed is to join the National Association of Realtors. You may not use the Realtor® trademark or call yourself a Realtor® unless you are a member of the NAR. The NAR has registered this title and only allows its members to use it. Most real estate companies will require that you join the NAR and local associations.

Find valuable information about the National Association of Realtors at http://www.realtor.org/ as well as information on the real estate industry. ProSchools recommends investing some time to look at this site and get familiar with what is going on and what is available to you. You may also call NAR at 1-800-874-6500 and talk to a customer service specialist. Read the rest of this entry »

As you work on your studies to get your real estate license, you should be thinking ahead about the steps you will need to take to start your business once licensed.

As a newly licensed real estate agent, you will need to work under the supervision of a managing broker for a period of time designated by your state. Start interviewing managing brokers from different companies early to determine where you will start working once you obtain your license. Read the rest of this entry »

For those interested in getting a Washington real estate license, you should know that Washington passed a new real estate license law, RCW 18.85.  The old law was created in 1925 — 85 years ago!  Current practices and the way the law was written made it difficult to enforce and hard for licensees to obey. The new law signed by the Governor on March 14, 2008, becomes effective July 1, 2010.  Some changes impact current licensees, but most impact new people coming into the business.  The Washington DOL has helpful FAQs.

Here are some important things to know about the new law:
•New applicants after July 1, 2010 will take a broker test (used to be a salesperson test) and need to complete a 60-hour fundamentals course and a 30-hour practices course to qualify for the broker exam. Read the rest of this entry »

We all know the answer is “yes”. But some days it’s hard for me to remember what life was like at ProSchools before mortgage education and NMLS consumed much of my waking hours.

For a few minutes, I’m taking an NMLS-break. This posting is about something really cool that happened today and how ProSchools helped make it happen.

From ProSchools’ Missions Statement…Our Core Beliefs and Promises: when all is said and done, the quality of relationships we foster will be the true measure of our success.

Image via Wikipedia

ProSchools is here for you Louisiana Mortgage Loan Originators!  Did you know that you are one of the fast track states?  What does this mean?  Your state, Louisiana, is one of the first in the nation  to take part in the SAFE Act transition plan.

ProSchools will be here,  ready to assist you with your educational requirements.  We can help you meet your educational needs with a high quality program.

As of July 31, 2009 the requirements for loan originators to be licensed in Louisiana are:

Complete 24 hours of NMLS-approved education. The education must include a minimum of 3 hours of federal law and regulations, 3 hours of ethics, and 2 hours related to lending standards for nontraditional mortgage product marketplace. Read the rest of this entry »

People call us all the time about getting an Oregon real estate license. How hard is it? How much will it cost? Do I have to go to real estate school? Will an online course train me to pass the real estate exam? Will there be a job for me when I finish? Let me try to answer a few of these questions.

Getting a real estate license in Oregon is fairly easy. There are 3 main requirements.

1. Real estate education — You must complete a state-approved 150-hour real estate course. Online training is very popular in Oregon, especially since the hours are fairly high compared to other states.
2. Complete a background check — Submit to the State of Oregon Real Estate Agency a completed background check and fingerprints.
3. Pass the Oregon real estate license exam — It’s a two-part exam and you have to pass each part by 75%. There are only 200 questions. Read the rest of this entry »
   Share, Bookmark, Subscribe, Print!

   • 
   • 
   • 
   • 
   • 
   • 
   • 
   • 
   • 
   • 
   • 
   • 
   Tags: Oregon real estate license, Real Estate Agency, real estate broker, real estate exam, real estate school

At ProSchools our real estate courses are ARELLO approved.  What’s this mean?  It’s good to know!  Let’s break down what ARELLO is and the benefits to you.

So, what is ARELLO?

The Association of Real Estate License Law Officials (ARELLO-IDECC) is an organization comprised of real estate regulatory officials from all across the North America, Africa and Asia. In an effort to better equip its members to protect the public through quality education of its regulated professionals, the group developed a set of standards for distance education course delivery and has everything to do with assurance that important educational principles are being met when the instructor and pupil are separated by time and/or space.

ProSchools courses have met the high bar of criteria and received the stamp of approval.

Even jurisdictions that don’t require certification certainly hold ARELLO course standards in high esteem as a quality course for their jurisdiction’s pre- and post-licensees.

Furthermore, as of January 1, 2009 instructors are required to be ARELLO certified.  The CDEI designation provides an excellent credential and knowledge base for the distance education courses.

So, that’s what ARELLO is and the benefits to you, the real estate agent.

If you are in the process of getting your real estate license, you’ve probably discovered that there’s a vast amount of information Realtors® need to know, especially to best serve your clients. Insect and fungi damage might not be on the real estate license exam, but it is a topic you should be knowledgeable about early on in your real estate career.

Charlie Rouse, a Certified Home Inspector with Associated Master Inspectors, recently gave ProSchools some excellent tips to pass on to our real estate students.

Read the rest of this entry »

A big topic of discussion today is how the real estate industry got to the point it is in. Phillip C. Querin, a Partner with Davis Wright Tremaine (and Legal Counsel to PMAR-Portland Metropolitan Association of Realtors®), was asked to give a succinct and realistic evaluation of what he thinks happened.

Here is Phil’s response in the February 2009 edition of the REALTOR®, the official publication of PMAR:

Read the rest of this entry »