Scheduling Your Exam
To start you will need to acquire your certificate of completion for your pre-licensing course from your real estate school. You will then be able to create an ICOLA account to schedule your exam (see our ICOLA section for setup directions and Broker ID #). The cost of the exam is currently $79 (subject to change) and if you need to retake the exam you will need to pay each time. The exam consists of 115 questions and you will be allotted 3 hours (180 minutes) to complete it. You will need to answer at least 70% of the questions correctly in order to pass. We HIGHLY recommend registering Vision Realty Centers as your Broker PRIOR (inside of ICOLA) to scheduling the exam. If you do not have a broker selected prior to scheduling your exam, your license will be sent to the State of Michigan and your future broker will need to order your license which will delay you getting started in your new career.
PSI
(800)733.9267
PSIEXAMS.COM
Michigan Institute of Real Estate
(800)861.7325
MYREALESTATESCHOOL.COM
Vision Realty Centers
(877)787.6093
VISIONREALTYCENTERS.COM
Dept of Licensing
(517)373.1820
Vision Realty Centers Broker ID# 6505360135
If you register Vision Realty Centers as your Broker, please notify us immediately by calling 877-787-6093 so we can log into ICOLA and accept you as an agent.
Studying
- Review the material you covered in class every day for a couple of hours when you get home. Also spend some time reviewing material from classes earlier that week (if applicable) to help you retain that information. Be sure to give yourself an occasional breather.
- Find a good quiet place where you can focus with as few distractions as possible.
- Use a highlighter to mark things of importance for you to review.
- For Math Formulas and Terms/Definitions use flashcards (it works).
- Use word association to remember terms (example- Riparian Rights… think of “ripples in water” or something that will remind you of the definition or term.)
- Pay close attention to KEYWORDS and memorize WHEN they are used (does, does not, sometimes, never, always, except…). Your exam will try to trick you by switching words to throw you off.
- Study with a partner or group. Keep each other accountable and motivated.
The Exam
- Keep in mind the exam is designed to TRICK you. Approximately 70% of agents that take the exam fail their first time taking it. Don’t underestimate the exam, you will need to study to pass it!
- Your Pre-Licensing course was not designed to teach you “real world” real estate, it was designed to teach you how to pass the exam. After passing your exam plan on taking many more classes from your broker, your board, and your MLS system to bring you up to speed on your proper training.
- You will need to score at least a 70% on your exam to pass.
- You can continuously retake the exam until you pass (you will have to pay each time).
Tips to Pass the Exam
- Schedule your exam within a short period of time from you completing your Pre-Licensing course. Your short-term memory can only hold all that information for a limited time before you start to forget it. Continuously study to refresh the material you have learned.
- Read EVERY question and answer 3 TIMES before marking your answer on the exam. Again, it is designed to trick you and they will change certain words in the question to throw you off! If you read the question 3 times, you will understand EXACTLY what the question is asking you.
- If it comes to a math problem that you don’t understand or don’t know the formula to, use “Process of Elimination” to get rid of answers that are way off base (usually 2 of them) and you will have a much better odds of guessing the correct answer.
- If you get stuck on a question, mark it and come back to it… many times you will find the answer farther down the exam in another question.
- If you have no idea at all… guess “C”…. it’s the most common answer on a multiple choice test.