Humber Real Estate Course 2: Structure and Questions Breakdown
Description:
This course is the longest and most challenging of the courses, mainly due to its sheer size. The exam itself may not have been as difficult as C3 or C4, but the marathon-like nature of this course made it the hardest for the speaker. However, it is a beatable course.
The longest course of the series.
The course the speaker found the hardest, mainly due to the sheer size of it.
The exam itself may have been as hard as C3 or C4, but the marathon-like nature of this course made it the hardest for the speaker.
It is a beatable course.
The sheer size of the course made it the hardest for the speaker.
Additional support is available in the form of exam Master mini-courses in the description, covering C1 all the way to Sims 2. Humber Real Estate Course 2...
Get Your Humber Real Estate Exam Study Materials Here: https://www.humberrealestate.net/
Humber Real Estate Course 2
Description:
This course is commonly referred to as "the beast" and is the biggest course in the entire real estate program. It consists of 20 modules and took the speaker 40 days to read and study the material. After completing this course, the heavy lifting is done, and the student can start to see the light at the end of the tunnel.
Key Points:
Course 2 is the biggest course in the real estate program, commonly referred to as "the beast."
It consists of 20 modules and took the speaker 40 days to read and study the material.
After completing this course, the student has the majority of the work done and can start to see the end in sight.
Exam Changes:
Exams are now 115 questions, up from 75 questions in Course 1.
Exam time has increased from 2 hours to 3 hours.
These exam changes apply to all courses moving forward, not just Course 2.
Upcoming Courses:
Course 3 is only 9 modules.
Course 4 has 15 modules, but there is a lot of repetition.
There are also 2 simulation sessions, each only a week long.
Exam Strategies and Course Completion
Description:
This section covers helpful strategies and insights for approaching the exams, as well as an overview of the course size and time required to complete it.
115 question exams allow for 28 wrong answers to still pass with a 76%.
Knowing this can help manage expectations and reduce stress during the exams.
Total estimated course hours: 152 hours and 40 minutes.
Completing the course in 4.5 months is possible.
Humber's estimated reading time may be conservative.
Reading speed can improve as you progress through the course.
Estimated personal reading time: 90 hours (60% of 152 hours).
Plan to read 3 hours per day for 30 days, plus an additional 10 days for review and studying.
Use passive pass software to help study and review modules.
Time Management and Pacing
Allows 40 days to read material and study before booking exam.
Emphasizes that there is no rush, as the entire course can be completed within 2 years.
Suggests that some students may be able to study 6-8 hours per day, but the pace should be tailored to individual needs.
Real Estate Essentials and Transactions
Course 1: Real Estate Essentials.
Course 2: Real Estate Transactions.
First 5 modules of Real Estate Transactions were engaging and provided valuable learning material.
Role of Third-Party Professionals
Third-party professionals are frequently mentioned in the exams.
As real estate sales professionals, always refer to third-party professionals if we do not have the necessary expertise.
Giving Opinions and Referring to Professionals
Avoid giving opinions on topics we are not qualified to assess.
Refer clients to third-party professionals for expert opinions.
Honesty is always the best policy when dealing with clients.
Modules 6-8: Construction and Overwhelming Topics
Modules 6-7-8 cover construction-related topics.
The author finds these modules to be a little dry and overwhelming.
Focusing on Fundamentals, Not Specifics
There will not be 10-20 questions on the most in-depth topics.
Exam questions will likely focus on 1-3 questions on these topics.
Understand the core concepts rather than trying to memorize everything.
Modules 9-12: Marketing, Disclosures, and the Offer Process
Module 9: Marketing.
Module 10: Property conditions impacting disclosure.
Module 11: Value and listing price considerations.
Module 12: Showing property and the offer process.
Module 15: Contracts
Module 15 covers contracts.
The author surprisingly does not mind contracts, possibly due to an interest in the legal aspects of real estate.
Agreement of Purchase and Sale (APS)
The APS is the main contract we will use often.
Referred to as the "APS" - check out the video on it for more information.
Writing Conditions and Completing the Offer
Module 19 goes into a bit more REBA and FinTrac.
Focus will be on the fundamentals.
Completing a Real Estate Transaction
Module 20 finishes with completing a real estate transaction and important steps in the closing process.
Reaching Out for Support
Reach out and comment below if you're in real estate to help future clients.
When it's time to start thinking about brokerages, don't
Get Your Humber Real Estate Exam Study Materials Here: https://www.humberrealestate.net/
Multiple Choice Question Breakdown
The speaker goes through multiple-choice questions, using their fundamentals.
They read, answer, and discuss why questions are wrong and how they are worded.
The speaker will go through 4 different questions.
The questions will be of high percentage, not tricky, and may include "what statement" type questions.
The speaker will try to go through the questions as quickly and efficiently as possible.
They always start by taking a deep breath and reading the question from the top left.
The first question is about the agreement of purchase and sale.
The authority granted to the brokerage is referenced, and it allows information to be included where a notice may be sent.
The authority given to the brokerage is to receive notices on behalf of the client.
Notices may be sent and received by most non-registrants.
Notices cannot be received by non-registrants, which might come up in the exam.
The authority to receive verbal binding agreements from interested parties.
Real Estate Transactions and the Statute of Frauds
The purpose of trading in real estate must be in writing. This is a very small percentage of cases, but it is an important legal requirement to keep in mind.
Statute of Frauds is an old law that requires real estate transactions to be in writing.
Leases fall under the Statute of Frauds, requiring them to be in writing.
Read through all answer choices thoroughly, even those you have eliminated.
Under a seller and buyer representation agreement, the broker is typically granted the authority to give and receive notices on behalf of the client.
Notices in real estate transactions are usually delivered via email.
An estate in land refers to the interest or rights associated with real property.
When identifying the incorrect statement about a fee simple estate, use the strategy of looking for the opposite of the correct answers.
Use the strategy of putting down three fingers to represent the three correct answers, then identify the one incorrect answer.
A fee simple estate is one where the owner has ownership for an indeterminate, or unlimited, amount of time.
A fee simple estate is considered the highest form of property ownership.
Fee Simple Estate
Fee simple estate has the most rights and the fewest limitations.
Fee simple estate is discussed in contrast with leasehold, which has more limitations.
Fiduciary Duties
Fiduciary duties are based on trust, confidence, and loyalty.
Fiduciary duties are owed to both clients and customers of the brokerage.
The brokerage must obey all legal instructions of the client.
Changes in Terminology
The terminology used to refer to the brokerage's counterparty is changing from "customer" to "self-represented party" or "client."
Fiduciary Duties and Obligations
Fiduciary duties and obligations are owed only to a client.
Brokerages must prioritize the client's interests in all their activities.
Listing Agreements and Liability
Listing agreement provides some liability protection but does not mean no risk.
Use common sense to minimize risk during showings.
Without a purchase agreement in place, be extremely careful who is allowed to view the property.
Seller may request agent presence during showings for added protection.
Listing agreement provides the baseline liability coverage, but sellers can negotiate additional terms.
Exam Preparation Resources
Instructor offers exam preparation mini-courses with notes, quizzes, and fundamentals.
Recommends joining the Humber College real estate Facebook group for additional support.
Encourages viewers to reach out with any questions.
Get Your Humber Real Estate Exam Study Materials Here: https://www.humberrealestate.net/
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