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Hey Callum! You're a legend! You amazingly explained things clearly, easily understood and enjoyable to watch! Thanks for the good work and intention you poured in! 👏
It's a good idea Karan! I'll debate adding it to the list. I think a reason maybe why I wouldn't is just because I'm not a mortgage broker and others that are do make videos on it. Maybe have a quick UA-cam search. There could be some good videos covering a few of the topics. We definitely have to have a good amount of knowledge on mortgages even though we won't be specialist. 👍
Another great video Callum! Question, if I represent the Seller and provide Customer service to the buyer do I only check boxes in part 1 or do I also check box 3B as well? Thank you
Hey Mike! Haha thanks for that! So I wouldn't do that no. As there is no cooperating brokerage. I would of course have a separate customer service agreement signed with the other party and I would mention it in the additional comment below multiple rep that we are providing customer service to the buyer. 👍
Hey Callum! Very informative, two questions here: 1) If another agent is representing the seller from my brokerage and I representing a buyer, I understand it's a multiple representation situation. Do I check 1B in addition to the consent signature? 2) Since both the agents are from the same brokerage For number 3, Co-operating Brokerage - Commission, do I still check A and disclose the commission I will be receiving? A bit confused on this, watching a Century 21 training, they advised not to. If I don't then how my interest will be protected?
Hi Callum! quick question about multiple representation. I understand that multiple representation is if you specifically are representing a seller and a buyer for the same transaction. But is multiple representation also when the brokerage you represent is representing the buyer/seller in the same transaction also? like for example, you work for exp and you're representing a seller client and another agent from exp is representing the buyer client in the same transaction. Please let me know as im a bit confused! Thanks Callum
Hi, If it is multiple representation (not same salesperson but same brokerage) , should I leave the 1a and 3a empty? or fill out as regular and mark the multiple representation as well? thank you
Yes. If you are sending an offer representing your buyer clients you will fill out section 1 (along with everything else where needed) to send to the listing agent.
Hello C M I am currently off work on short term disability leave, with back surgery planed for the end of January. My plans are to sign up for Humber’s online realtor course after my surgery. My question to you is, would it be advantages for me to purchase Passit for a month to use a study / education guide to familiarize with some of the courses terminologies/ content without at this point starting with Humber. I realize it’s kinda “the cart before the horse “, but I want to educate myself as much as possible before enrolling . I have a couple months before I can make a commitment to the course. PS I have watched most of your UA-cam videos and am very appreciative . You took the time for us out here that are researching this topic and it has definitely helped . You have done an excellent job, thank you Dave O
Hey Dave thanks for the message and super glad the videos help! 🙏It's not a terrible idea but the only thing I can think of is that I think you only get access to each Passit course for 6 weeks or so. That's only bad if you plan on using it as a study tool before your exam. But apart from that I think it's a good idea. Email me anytime if you need anything Dave 👉callummoorekw@gmail.com
It will be unique to a few different circumstances. If there is a contract in place, sometimes those contracts can be BRUTAL and they will refer to the details. Double check of course, but if there is no contract in place a new brokerage can assume the closing.
Hey Nishant yes they can. I mention it in the video. Instead of 1-a you would choose 1-b. And in the notes you can also mention that you are representing both parties and there is a conflict of interest. You can then explain to your buyer clients that you are still VERY much there for them. You are still providing information to make a good educated decision, but you just can’t disclose the wants and needs of your seller clients in the transaction. It goes both ways as you will not disclose the wants or needs of theirs as well. There are more way you can be in multiple representation as well not just both being your clients. If both representatives have clients evolved in a transaction even though they are not their clients specifically, the brokerage is in multiple representation. Towards the bottom as mentioned in the video you would get both parties to initial the box above the acknowledgment getting their consent for multiple representation. Are you currently in a multiple representation situation?
I'm not 100% on that one I don't practice it. I would talk to your brokerage about doing that. But it most likely will be a disclosure form like the 160.
▶ Exam Master Mini Course. Ontario Real Estate Exams 🇨🇦
✅ Use The Discount Link Below For 25% OFF
Course 1 - bit.ly/3NrGJ8q
Course 2 - bit.ly/44qOTEK
Course 3 - bit.ly/3r7uLJB
Course 4 - bit.ly/3PCoe3H
SIMS 1 - bit.ly/3Xv7rl0
SIMS 2 - bit.ly/3CUWEqS
Value Link Above For All UA-cam Supporters. 🙏
These videos that walk through how to explain documents and clauses to clients are GOLD. Please do more!
Cheers man. 👍Yea doing the Form 200 Listing Agreement next in the hopper. I'll try to keep em coming! Thanks for that! 😀
Thank you for these videos, very informative, useful, to the point and well done. Keep them coming please.
So glad they help!!
Thank you for all the hard work you do Callum. You're a great educator
No problem Cisco, glad it helped!!
Hey Callum! You're a legend! You amazingly explained things clearly, easily understood and enjoyable to watch! Thanks for the good work and intention you poured in! 👏
So glad it helps YanWei!!
Thanks for sharing your experience and tips.
No problem Shahid glad they helped 👍
Hello Callum, can you please make a video on Mortgage(types, difference between seller’s take back and other type of mortgages)?
It's a good idea Karan! I'll debate adding it to the list. I think a reason maybe why I wouldn't is just because I'm not a mortgage broker and others that are do make videos on it. Maybe have a quick UA-cam search. There could be some good videos covering a few of the topics. We definitely have to have a good amount of knowledge on mortgages even though we won't be specialist. 👍
Another great video Callum! Question, if I represent the Seller and provide Customer service to the buyer do I only check boxes in part 1 or do I also check box 3B as well? Thank you
Hey Mike! Haha thanks for that! So I wouldn't do that no. As there is no cooperating brokerage. I would of course have a separate customer service agreement signed with the other party and I would mention it in the additional comment below multiple rep that we are providing customer service to the buyer. 👍
Hey Callum! Very informative, two questions here:
1) If another agent is representing the seller from my brokerage and I representing a buyer, I understand it's a multiple representation situation.
Do I check 1B in addition to the consent signature?
2) Since both the agents are from the same brokerage
For number 3, Co-operating Brokerage - Commission, do I still check A and disclose the commission I will be receiving?
A bit confused on this, watching a Century 21 training, they advised not to. If I don't then how my interest will be protected?
Hi Callum! quick question about multiple representation. I understand that multiple representation is if you specifically are representing a seller and a buyer for the same transaction. But is multiple representation also when the brokerage you represent is representing the buyer/seller in the same transaction also? like for example, you work for exp and you're representing a seller client and another agent from exp is representing the buyer client in the same transaction. Please let me know as im a bit confused! Thanks Callum
Yes in that case you would still be in Multiple Rep
Hi, If it is multiple representation (not same salesperson but same brokerage) , should I leave the 1a and 3a empty? or fill out as regular and mark the multiple representation as well? thank you
I would check 1b and add comments below it related to your situation. Also use the additional comments for 3. and mention how commission will be paid.
If we are the representing the buyer we fill out section 1, or leave it to the listing agent?
Yes. If you are sending an offer representing your buyer clients you will fill out section 1 (along with everything else where needed) to send to the listing agent.
Hello C M
I am currently off work on short term disability leave, with back surgery planed for the end of January. My plans are to sign up for Humber’s online realtor course after my surgery. My question to you is, would it be advantages for me to purchase Passit for a month to use a study / education guide to familiarize with some of the courses terminologies/ content without at this point starting with Humber. I realize it’s kinda “the cart before the horse “, but I want to educate myself as much as possible before enrolling . I have a couple months before I can make a commitment to the course.
PS
I have watched most of your UA-cam videos and am very appreciative . You took the time for us out here that are researching this topic and it has definitely helped . You have done an excellent job, thank you
Dave O
Hey Dave thanks for the message and super glad the videos help! 🙏It's not a terrible idea but the only thing I can think of is that I think you only get access to each Passit course for 6 weeks or so. That's only bad if you plan on using it as a study tool before your exam. But apart from that I think it's a good idea. Email me anytime if you need anything Dave 👉callummoorekw@gmail.com
if you leave brokerage and closing is not done -preconstruction or resale -who get the split -new brokerage or old brokerage
It will be unique to a few different circumstances. If there is a contract in place, sometimes those contracts can be BRUTAL and they will refer to the details. Double check of course, but if there is no contract in place a new brokerage can assume the closing.
Can the same Real Estate Agent represent both the seller and the buyer ? If yes, what signatures and acknowledgements are needed on Form 320 ?
Hey Nishant yes they can. I mention it in the video. Instead of 1-a you would choose 1-b. And in the notes you can also mention that you are representing both parties and there is a conflict of interest. You can then explain to your buyer clients that you are still VERY much there for them. You are still providing information to make a good educated decision, but you just can’t disclose the wants and needs of your seller clients in the transaction. It goes both ways as you will not disclose the wants or needs of theirs as well. There are more way you can be in multiple representation as well not just both being your clients. If both representatives have clients evolved in a transaction even though they are not their clients specifically, the brokerage is in multiple representation. Towards the bottom as mentioned in the video you would get both parties to initial the box above the acknowledgment getting their consent for multiple representation. Are you currently in a multiple representation situation?
Where would you mention if you are giving discount on your commission from what mentioned in MLS listing for co-op
I'm not 100% on that one I don't practice it. I would talk to your brokerage about doing that. But it most likely will be a disclosure form like the 160.
Even i am not but it is something people are doing around thesedays
Hi, what is the difference between co operation and representation agreement and commission and trust agreement?
that is for 320 and 202
If we forget to write +HST for the commission section. Will the seller still be required to pay HST out?
Yes. When lawyers are paying everyone out they understand Real Estate Agents collect HST.
@@CallumMoorekw wow, you responded so quick. I forget to write it and was stressed about it. Thank you so much bro!!
@@akashgandhi418 No problem! 😀