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Real Estate as a Professional Career

OREA’s first course—it’s all about getting started in the business, how brokerages operate, what important listing and selling rules apply, what drives the marketplace, and how real estate values are estimated. You’ll calculate commission splits, mortgage payments, area measurements, debt service ratios and closing adjustments. For Passit Guide details for this course visit Passit for Real Estate as a Professional Career.

Studying for the Ontario real estate exam.Studying for the Ontario real estate exam.

Say Hello to Study Buddy!

Wouldn’t it be awesome if there were pro-level study notes for your OREA course… in addition to all the awesome Passit features you already love? Well, now there is! Study Buddy is a new study notes tool that drills down to the most mission critical exam topics in an easy-to-use online format. It’s perfect as a sidekick […]

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Man on laptop learning about Ontario real estate trading rules

Tripped Up On Trading?

Don’t get confused as a new salesperson about when can you trade. First, you can’t trade in real estate directly; you can only trade on behalf of your employing brokerage. The brokerage is the agent, not you. It’s a very important legal distinction that can pop up in exam questions. Second, be clear about when you can […]

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Studying the Maslow hierarchy of needs for real estate

A Maslow Quick Trip

Is Maslow messing up your mind? Try looking at the hierarchy of needs from a real estate perspective. It may help you remember the five stages. Physiological: First, you need a roof over your head just to get out of the weather. Doesn’t matter where it is—next to the tracks or above the local pizza shop. […]

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How to Calculate Monthly TDS Payment for Real Estate Mortgage Qualification

Calculating Monthly PI Payment Based on TDS

Here’s an example that may help clarify how to calculate PI payments when a TDS is involved.Anycity Lending Inc. is assessing Buyer Gordon’s financial abilities to buy a resale home for $397,500. The borrower has an annual income of $90,000 with monthly credit card payments of $450. The property’s estimated annual property taxes are $5,600. […]

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Understanding Different Types of Real Estate Value

Value, Value!

Having problems understanding different types of value? Here’s some examples that may help. Subjective Value: Subjective values are influenced by personal opinion; e.g., what a person is willing to pay another for a house based on his or her own feelings, tastes and opinions. Beauty (and value) are in the eyes of the beholder. A buyer may […]

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New Land Transfer Tax Rates for Exam Calculations

Land Transfer Tax - Important Updates

Passit course materials are continuously updated to reflect OREA’s most current course materials. This winter we’ve been busy with many changes across all guides, but one of the most important involves recent updates to land transfer tax (LTT) rates in Ontario (this impacts both Real Property Law and Real Estate as a Professional Career). Here’s […]

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Calculating Debt Service Ratios (GDS and TDS)

Debt Service Ratios: Study Tip

Don’t get tripped up on debt service ratio calculations: Watch for different payments. One multiple choice question may focus on principal and interest (PI), while another asks about principal, interest and taxes (PIT). In yet another, it may be a condominium with a portion of heating costs included (PITH). Be careful with time periods. MCQs can contain […]

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Tackling Real Estate Math Questions

Math: A ‘Make or Break’ Issue for Some

Don’t get tripped up on the first course leading to RECO salesperson registration. Math is a deciding factor for some as to whether they pass or fail the Real Estate as a Professional Career (REPC) exam. Favourite testing topics include commission calculations, statistical analysis (means, medians and modes), real estate market indicators, basic math skills, metric/imperial conversions, […]

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Real Estate Salespeople Meeting with Notes and Laptop

Exam Prep and 'Thinking Reading'

Don’t let your study world be consumed with reading and rushing, rather than concentrating. Reading comprehension is everything when it comes to exams. Here’s an example: The legal structure of a condominium is set out in the declaration and description, and typically consists of individually-owned units and common property held by unit owners in joint tenancy.  […]

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Man Frustrated with Tricky Real Estate Exam Questions

19 Common Problem 'Terms' for REPC Students

Important Study Rule: Don’t gloss over the glossary. Here are examples of common terms in the Real Estate as a Professional Career textbook glossary that cause trouble for some students: Agent and Principal Mortgagee and Mortgagor REALTOR® and Registrant Agency and Representation Mean, Median and Mode Market Price and Market Value Rentable Area and Useable Area Nominal and […]

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