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 […]
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. […]
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. […]
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 […]
Land titles now dominates land registry in Ontario, as the registry system has all but left the scene. However, it’s easy to lose exam marks on some basic questions about how properties are registered in this province. Here’s a ‘land titles’ quick test. The land titles system: uses abstract books when recording relevant property rather […]
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, […]
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. […]
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 […]
Eliminate confusion about these online marketing techniques when studying for the OREA exam. Many students stumble over a Passit MCQ about push/pull technology (Real Estate as a Professional Career). It’s a straightforward concept discussed in the course text, but it seems to cause some problems. Here’s two summary points to help with your studies: An […]
Frustrated by number crunching? Students currently studying for the Real Estate as a Professional Career exam will discover a helpful new Math Primer included in their Passit Guide. We created the Math Primer to assist students struggling with math fundamentals such as fractions, decimals and percentages. This new segment includes an explanatory document and 50 extra practice MCQs. While these questions […]
