Episode 095 - Real Estate Exam Questions: Brokerage & Commissions

Episode 095 - Real Estate Exam Questions: Brokerage & Commissions Going through state exam questions to help real estate students pass their state exam.   01:35 – October: is the exam spooky for you? 02:45 – Prepare for the exam: do what you do every day. Don’t change your routine. 05:48 – What are “good funds”? 11:45 – List of recent grads: Rajesh, Julia, Max, Ibrahim, Tabitha, Brenna, John, Caitlyn, Dawn, Lesley, Ashley, Stephanie, Melissa, Eleyna, Lisa, Christa, Scott, Shahadat, John, Destiny, Jessalyn, Jen, Jessiah, Jennica, Hubert, Kate, Eric, Jade, Yaritza, Taj, Jon, Myron, Paisley, Zeeshan, Yvonne, Shannon, Olivia, Cateline, and William. 13:00 – Message from Ashley. 14:30 – Episode Focus: Brokerage and calculating commission; Broker versus sales associate or agent 17:40 – Broker responsibilities; compensation to agent/associate; contracts are with the broker and client, not the agent; income taxes are paid by agent, not the broker. 25:05 – Antitrust laws: price fixing, group boycotting, and allocation of customers or markets 31:40 – Commission concepts: procuring cause; understand the difference between earning a commission and being paid a commission. 36:30 – Commission math: listing side (seller’s side) versus selling side (buyer’s side); Sale Price x Total Commission Rate = Total Commission Paid; Email us for the commission tree. 41:20 – Test questions about brokerage operations and calculating real estate commissions; for math questions, do forget to plug in the answers and work the questions backward. 1:09:00 – November’s episode will be about listing contracts including contract types, net to seller and more. Go to www.ahareep.com and sign up for the program for only $35, use discount code: legend15 to save 15% off.   A-Ha LINKS   Email info@ahareep.com   Web www.ahareep.com   Facebook https://www.facebook.com/AHA.REEP   YouTube https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A