Frequently Asked Questions on Getting Your GA Real Estate License

A Bob Wood Real Estate Academy’s Georgia Real Estate License FAQ

PreLicense FAQ
1. Why A Bob Wood Real Estate Academy?
2. What books do you use?
3. I have decided to attend A Bob Wood Real Estate Academy, how do I sign up?
4. What information is given in the class?
5. What are the fees I encounter as a real estate agent?
6. Is the class hard?
7. How much studying is needed?
8. If I fail the test what happens?
9. What steps do I need to take to get my Georgia real estate license?
10. How hard is selling real estate?
11. After I get my license what do I do?
12. How do commissions work?
13. Why is training so important once I get my real estate license?
14. Do you recommend going full-time or part time into real estate?
15. How much can I make in real estate?
16. What are the pitfalls of becoming a real estate agent?
17. What are the rewards of becoming a real estate agent?
18. Why is Atlanta number 1 in mortgage fraud?
19. Why are there so many real estate brokerages?
20. Why are real estate brokerages necessary?
21. What do real estate brokerages do for you?
22. Where is the state test given?
23. What if I fail the state test?
24. Do you accept checks?
25. Should I do the online class?
26. Why is the weekend class only 7 weeks?
27. Why is the week class 11 weeks?
28. Can I miss class?
29. Can I make up class at another session or at another location?
30. What happens if I am late to class?

Post License
1. What is post license class?
2. Will I have the same instructor throughout the class?
3. If I fail the post-license test, what happens?
4. Why is training so important once I get my real estate license?
5. What happens if I am late to class?
6. How much class can I miss?
7. Should I do the online class?
8. Do you accept checks?

PreLicense FAQ

1. Why A Bob Wood Real Estate Academy?

A Bob Wood Real Estate Academy has been training real estate agents throughout metro Atlanta since 1974. Just ask the producers in the industry where they went to school . . . . many will say A Bob Wood Real Estate Academy and reply that they received an unparalleled educational experience. Our instructors are top notch. We have seen their results in the industry. They are not agents who just obtained an instructor’s license to teach real estate in Georgia. They each hold an active real estate license, as well, and have all excelled as real estate agents somewhere in their career, as well. This is priceless for the student. No real estate class is allowed by the state to teach you how to pass the real estate exam. The prelicense course is to be a course in real estate, not how to pass the test. At A Bob Wood Real Estate Academy, you get just that plus more. Read the testimonials. Our instructors do, and are encouraged to, teach about the practical world of selling real estate. While the basics and fundamentals are taught in the classroom, the instructors teach it from the real world perspective so that you will be able to use your prelicense education for years to come, not just to pass the state exam.

2. What books do you use?

Included in the price of your tuition, you will receive Modern Real Estate Practice, 17^th ed., and Georgia Real Estate Law. There is not a price difference for tuition with and without books. The books are included.

3. I have decided to attend A Bob Wood Real Estate Academy, how do I sign up?

Great! All you need to do is fill out the registration on our website and submit it to guarantee a seat reservation. You can also show up the first night of class 30 minutes early to take care of your registration. However, waiting until the last minute to register does not guarantee a seat in the class. Seating is limited and filled on a first come, first serve basis.

4. What information is given in the class?

Most think this is an easy class about how to sell real estate. It's far from that. This class does not teach you how to sell real estate; no prelicense course does. Any school licensed by the state is required to teach you the laws and regulations applicable to agents, real estate fundamentals, math concepts, and all the terms and definitions related to real estate, all 600 or so of them.

5. What are the fees I encounter as a real estate agent?

The base fees required of all real estate agents are the fees to the real estate commission.

170 to get the license and --- every 4 years for renewal. 91 to take the state test.

the rest is up to the individual brokerage. in bob wood realty's case. the fees are 254.50 to NAMAR, the local board of realtors. and $22 per month for MLS and internet access. MLS bills Bob Wood Realty every month and we bill you for that in 6 mo. increments. things to look out for are E&O insurance, monthly fees, franchise fees, desk fees, phone fees, sign fees, lockbox fees, computer fees, broker call fees, yearly contracts, brokers getting kickbacks from FMLS, transaction fees, copy fees.

6. Is the class hard?

Yes . . .but not if you study. Is learning a foreign language hard? Yes, and if you don't speak it every day, you forget it. There are over 600 definitions in the book that you should learn by the end of class. Unfortunately, the words sign and lockbox aren't among these 600+ latin-inspired words. Anyone can pass the prelicense course if they are willing to dedicate the time to learn the course information.

7. How much studying is needed?

Prior to being Director of A Bob Wood Real Estate Academy and as a student at the University of Georgia, I was told that 2 hours of time should be devoted to outside class study for every 1 hour of in-class instruction. My dad taught me and thousands of students over thirty plus years this technique. It still holds true today. Put aside the time, and do it right the first time. Don’t waste seven or ten weeks and class and fail the course. Devote yourself to the course, and you will be rewarded in the end.

8. If I fail the test what happens?

The cost of your tuition includes one retake exam. We encourage you to study for the final exam as if a retake exam was not available. However, you may rest easy knowing that if you do not achieve 75% on the final exam, you have one more chance to pass. In addition, a two night cram course is offered each session between the final exam and retake exam; so if you feel you need the additional instruction, it is available for a nominal fee. Unfortunately, if you do not pass the retake exam, the Commission requires the 75 prelicense course to be taken again.

9. What steps do I need to take to get my Georgia real estate license?

The best recommendation we can give you is to take the class, study, and forget about what happens afterwards. Worry about passing the course right now. Once you complete the course and pass the school exam, then:

1. take the state test and PASS

2. get a sponsoring broker form from the real estate brokerage of your choice

3. take the sponsoring broker form back to the state testing center to obtain your license

4. deliver your license to your broker . . .now you are an active real estate agent!

5. what you do next is up to you . . .hopefully you chose a brokerage that has an interest in getting you started quick!

10. How hard is selling real estate?

I recently did an orientation talking about the comparison of Atlanta real estate and Atlanta rush hour traffic. They both have hundreds of thousands of people trying to get to the same goal . . .the gold. Fortunately, in the midst of people cutting you off, taking shortcuts (and illegal ones, at that), saying a few unkind, select words to you, and giving you a few obscene gestures along the way, there are a few kind, steady paced souls that aren't concerned with how fast you can get there at whatever cost or getting rich quick no matter who they step on in the process. Some will get their client, show them homes, have a happy customer that never thought they could get a home of their dreams, and you are the one that made it happen . . . the bonus for this type person, you got paid in the process.

11. After I get my license what do I do?

Hopefully you choose a brokerage willing to help you out with this. Your first few months are the hardest and most frustrating time. Being with the right brokerage office can make all the difference to the new, and experienced agent.

12. How do commissions work?

This is hard to explain in a paragraph, but here's an attempt at a scaled down version. Say John Smith lists his home for 7% total commission. Generally, this commission will be 3.5% to the listing agent and 3.5% to the selling agent. When a closing occurs, if you are the selling agent, your brokerage office receives a check for 3.5% of the sales price. Your broker will then cut the agent a check for their portion of the commission earned based upon the agent’s commission split with your broker.

13. Why is training so important once I get my real estate license?

Once you are licensed, an excellent training program will teach you the most efficient ways to make the most of every minute. Every minute spent on ineffective techniques at getting business is time wasted. An excellent training program will point you in the right direction and on the path to success in your new career. You might can learn the industry without training on your own, but if you can get paid one month earlier, if you can get one extra deal that year, if you stay out of trouble and stay legal, and if you know what to do and when to do it so your deal doesn't fall apart, every minute spent in training is priceless. Considering that the average commission is over $5000 per deal, wouldn’t you be best served getting the training you need to get your business started. The real estate industry is overwhelmed with agents; however, many of those agents will end up letting their license lapse because they either chose not to do the things to become successful or they never had the opportunity to learn the things they needed to know to become successful. A high commission split does not mean anything unless you have closings. 100% of nothing is nothing; 70% of twelve closings in a year at $5000 is $42,000 - not a bad start in a new industry!

14. Do you recommend going full-time or part time into real estate?

Either. It depends on how you like the career, how well it is working out for you, and how much money you have saved for your transition period. Most agents start out part-time, slowly increasing their business and income until they no longer need or rely on their other income from their other job. Be sure to check the option of being part-time at brokerage offices. Many offices have production requirements of their agents, have different commission splits depending on whether you are full or part-time, or simply do not allow agents to be anything but full-time if they are licensed with their brokerage office.

15. How much can I make in real estate?

As much or as little as you work at it. Real estate takes constant long hours to make the "big bucks". If you are looking to work leisurely, you will receive leisurely pay; just like any other job. If you work 40 hours a week with your current employer, you will receive a paycheck reflecting 40 hours of work; if you work 10 hours a week with your current employer, you will receive a paycheck reflecting 10 hours of work. Real estate is no different. You get out of it what you put into it. It's all up to you!

16. What are the pitfalls of becoming a real estate agent?

Being self-employed in any industry has its rewards and drawbacks. Unfortunately, or fortunately depending on how you look at it, real estate agents usually work the hardest when everyone else is off work. This means you may be showing properties on Labor Day when everyone else is at the lake; however, you can go to the lake during the week after Labor Day when the lake is not as busy and everyone else is back at work. Again, it is all in how you look at it. As an independent contractor, you can work as much or as little as you choose. Not having a clock to punch can be rewarding; however, many find the transition into monitoring ones own time and becoming self-motivating on those cold, rainy mornings rather difficult.

17. What are the rewards of becoming a real estate agent?

Being self-employed in any industry has its rewards and drawbacks. The rewards of managing one’s own time, choosing one’s clients, deciding when and how to promote one’s own business is both challenging and fulfilling. The sky is the limit in real estate. The Atlanta market provides an unlimited demand for your services. If an agent is willing to invest the time necessary to cultivate their business, they will realize the self-satisfaction of helping thousands of families find their dream home while earning a nice nest egg, themselves, in the process.

18. Why is Atlanta number 1 in mortgage fraud?

Good question. If the authorities knew the answer, Atlanta would no longer be at the top of the list. The affordability of the Atlanta housing market is definitely a contributing force. It does not take as much money to “invest” in a home in Atlanta, thus allowing many “investors” to enter the market who might not have the full financial means to undertake the opportunities for investment the area has to offer. Also, the competitive nature of the real estate market is a contributing factor, as well. As so many players into the industry, many find it easier to look for the shortcuts, rather than follow the guidelines. All too often, people fail to look at the big picture of seeing a wonderful career in real estate before them concentrating on a good work ethic which will lead to referrals and choose to go for the “quick buck” taking shortcuts. More business means more money to the players in the industry; however, if that additional business is gained unethically and illegally, it won’t last forever. Another factor may be the large number of “investors” who have gotten into the real estate industry as brokers; leaving the traditional training role of the broker behind in search of making money by hanging out a shingle to hold licenses for a fee. The experienced, ethical agent can work well without supervision; the inexperienced agent can easily fall prey to those claiming to “know how the business works” and end up in the midst of a fraudulent scheme to obtain a mortgage. Know your broker; know your broker’s background and training; know the availability of your broker; and know your own limitations.

19. Why are there so many real estate brokerages?

The State of Georgia used to require five years as an active salesperson to be eligible for broker status; the State now only requires three years. Many investors have entered the brokerage industry as an investment. They are not in the industry as a traditional broker, rather they are licensed as a broker to be eligible to hold the licenses of salespeople and collect fees from them. The concentration of these brokers is on monthly fees, not commission percentages. When a broker concentrates on collecting monthly fees, rather than being tied financially into every transaction by splitting the commission with you (meaning the broker does not get paid, unless you get paid), many brokers unfortunately choose to become investor brokers, rather than the traditional function of the broker as originally set out by the Georgia Real Estate Commission.

20. Why are real estate brokerages necessary?

Someone has to take responsibility for the professional reputation of consumers. The broker is the first line of defense at inadequate or improper client representation. The broker should be knowledgeable of the limits of agents at different stages of their career and put adequate measures in place to train and supervise both experienced and inexperienced agents. Even the most experienced agent will take something away with them from a training class. With the fast paced changes occurring in the industry and the prevalence of mortgage fraud in the Atlanta market, the broker is charged with supervising the activities of its licensees and stepping in when necessary to ensure that the consumer is protected against unethical, unprofessional, and illegal practices in the industry.

21. What do real estate brokerages do for you?

It depends on the brokerage. At one end of the spectrum, the brokerage office merely supplies their name as your broker; there might not even be an official office for the brokerage, choosing to use the broker’s residence address for the brokerage address. At the other end of the spectrum, the brokerage office supplies you with training, administrative support, an office with desk space and meeting rooms, copies, flyer generation and production, signs, lockboxes, and virtually everything you need to be an agent. Whether you pay for what you need whether you have a closing or not or whether your broker pays for everything and keeps a percentage of your closing when (and if) you have one, is up to you. There is a brokerage model to fit every agent!

22. Where is the state test given?

There are 4 testing locations in Georgia: Lilburn, Marietta, Macon, and Savannah.

23. What if I fail the state test?

The State of Georgia allows you to take the state test as many times as you would like for $91 each time without having to retake the course. Hopefully, you will only have to take the state test once after completing our course and passing the first time.

24. Do you accept checks?

No. Returned checks take too much time and cost. In order to keep prices low for our students, we only accept cash (or its equivalent), visa and mastercard.

25. Should I do the online class?

The ability to study at home or anywhere you have access to a computer is attractive; however, many online students are not disciplined enough to finish the course and find out that it ends up taking much longer to complete the course than if they had just taken the live class. The classroom environment also allows practice tips from the experienced instructors our school has to offer. Our instructors are not just “instructors”, they all each hold an active real estate license and have excelled in real estate production at some point in their careers. Most students prefer the classroom environment and having to set aside time for class knowing that they "have" to attend. The philosophy of most is the same as the philosophy for those working out better in the gym with a personal trainer. There is nothing you can do with a personal trainer that you cannot do by yourself (other than a spot), but having to be there is the biggest battle.

26. Why is the weekend class only 7 weeks?

Each class meets for a longer period of time. The weekend class meets six hours on Saturday and six hours on Sunday; as opposed to four hours twice a week for the day and evening courses.

27. Why is the week class 11 weeks?

The course could actually be longer to allow time to cover more of the information. Most people just have a hard time committing 11 weeks as it is. The State requires you to be in real estate class 75 hours to get your real estate license and 1500 hours to be a beautician. The real estate course packs a lot of information in a really, really short period of time. In addition, students often are unable to attend one of the classes. By having an 11 week course, you can miss a maximum of two evenings and still complete the necessary hours to meet the state’s requirements.

28. Can I miss class?

Yes. You can miss a maximum of two evenings or combination thereof in the day and evening courses. You can miss a maximum of 9 hours (1 ½ days) or combinations thereof in the weekend course. While it is recommended to attend each and every class given the large volume of material covered in the course, you do have excused absence time built into the courses.

29. Can I make up class at another session or at another location?

No. The classes have additional hours built in so that it is not necessary to make up class at another session or location. While it is recommended to attend each and every class given the large volume of material covered in the course, you do have excused absence time built into the course.

30. What happens if I am late to class?

Being late to class is a disruption. If you are late, your instructor will record your tardiness against the maximum number of hours you can miss during the course. Any portion of an hour late counts as one hour of class missed. So, if you are late by 5 minutes, you will have one hour subtracted from the maximum number of hours you can miss during the course.

Post License FAQ

1. What is post license class?

The post license class is a required 25 hour class that you must take within the first year of licensure. The live post license class offered by A Bob Wood Real Estate Academy is the Practical Aspects of Selling Real Estate. This course is a hands-on how to sell real estate the right way course and is an excellent way to introduce yourself to the career of real estate. The cost of the course is $150. Anyone may attend the course. However, if you place your license with Bob Wood Realty and come to the first session offered after obtaining your license, Bob Wood Realty will give you a half off voucher and pay half of the cost of your course; thus you only pay $75 with this voucher. Post license should not be dreaded. You will learn more about how to sell real estate and practical aspects that

you can actually use in daily life as a real estate agent as opposed to the pre-license class.

2. Will I have the same instructor throughout the class?

Typically, two instructors teach the course, each with a different outlook on the practical day-to-day affairs of a real estate agent. Each instructor will expose you to their areas of expertise that you can tailor to your own sales personality. In addition, multiple speakers will provide you with valuable practice tips on closings, loan qualification, homeowner’s insurance, home warranties, etc. The speakers for each post-license offering vary and are subject to change.

3. If I fail the post-license test, what happens?

If you fail the post-license test on the first try, you have the option of taking a retake test at a cost of $50. Passing the test is a Georgia Real Estate Commission requirement for course credit. If the retake test is failed, the course must be repeated.

4. Why is training so important once I get my real estate license?

5. What happens if I am late to class?

The post license course has an additional evening and one hour built into the course. Thus, you can miss 4.75 hours (or one evening and one hour or any combination thereof) and still have enough hours for course credit. If you are late, you lose an hour for each portion of an hour late. So, if you are late by 5 minutes, you have lost 1 hour of the 4.75 hours you can miss and still receive credit for the course.

6. How much class can I miss?

7. Should I do the online class?

8. Do you accept checks?

No. Returned checks take too much time and cost. In order to keep prices low for our students, we only accept cash (or its equivalent), visa and mastercard.