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Humber Course 4: Top 10 Study Tips & Strategies

Passit Online Study Guides are now available for these Humber courses: Course 1: Real Estate Essentials,Course 2: Residential Real Estate Transactions,Course 3: Additional Residential Real Estate Transactions, and​​​​​​​Course 4: Commercial Real Estate Transactions. If you’re prepping for the Course 4 exam, you’re already knee-deep in topics like brownfields, environmental site assessments and due diligence. As […]

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Studying for Course 3

Humber Course 3: Top 10 Tips & Study Strategies

Passit Online Study Guides are now available for these Humber courses:Course 1: Real Estate Essentials,Course 2: Residential Real Estate Transactions,Course 3: Additional Residential Real Estate Transactions, and ​​​​​​​Course 4: Commercial Real Estate Transactions. If you’re prepping for the Course 3 exam, you’ve likely heard rumours that this exam is a tough one! As a free […]

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Studying for Humber Course 2 Residential Real Estate Transactions

Humber Course 2: Tips & Study Strategies

Passit is now available for these Humber courses: Course 1: Real Estate Essentials, Course 2: Residential Real Estate Transactions, Course 3: Additional Residential Real Estate Transactions, and ​​​​​​​Course 4: Commercial Real Estate Transactions. If you’re prepping for the Humber Course 2 exam you are likely feeling overwhelmed with content! As a free warm-up for the […]

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Studying for the Course 3 Ontario real estate exam on an iPad

How To Tackle the OREA Course 3 Exam

This post relates to OREA Course 3. If you’re a Humber Course 3 student, you’ll want to read our Humber Course 3 Top 10 Tips and Study Strategies. One of the most challenging exams in the OREA curriculum is the combined one following The Real Estate Transaction—General and The Residential Real Estate Transaction. Here are Passit’s 6 key […]

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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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