Also ifbyou don't mind breaking down the client vs consumer vs customer I so appreciate your videos i was literally at a loss with metes & bounds rectangular survey and lot & block. I always skipped these questions however with your video explanation I understand it crystal clearly. Along with thr acronyms you provide to help remember federal protected classes & the acronym for Value (DUST) these help tremendously 😊
You're welcome! I'm glad the videos are helping! I should have a video on client, customer and consumer. If not, I should do one soon. To answer your question: Client - who you work FOR (the buyer or seller you're representing) Customer - who you work WITH (if the seller is your client, the buyer could be your customer. an inspector, an appraiser, lender - you don't represent them, but they are part of the transaction) Consumer - someone seeking information (can eventually become a client or customer). Example - someone who comes to your open house or calls you about a listing they found online. Hope this helps.
Hey Nonye, came across two questions. Can you please let me know why one answer says you can transfer and the other answer says you can’t transfer.🤦🏽♂️ Which of the following characteristics does NOT describe a fee simple estate? Answer: (D) Transferred upon the death of the owner Explanation: A fee simple estate is not transferred upon the death of the owner. It provides absolute ownership, potentially infinite duration, and may be subject to restrictions or conditions, “but it does not automatically transfer upon the owner's death.” Which term refers to the largest estate or ownership in real property? Answer: (A) Fee simple estate Explanation: The fee simple estate refers to the largest and most complete form of ownership in real property. It provides the owner with absolute rights and control over the property and can be freely transferred or inherited.
The difference is the phrase "automatically transfer upon the owner's death." It can be transferred, and it can be inherited but it's not automatic upon death. That's a life estate
Good morning, missed the live but just watched ty for the information. My question is regarding type of real estate brokers are allowed to assist clients in buying. There was a question on the exam that asked if a broker doesn't have enough background in selling a certain type of property yet they have a client who wants to purchase a building or some type of business. What should the broker do if they lack experience. That confused me
Hey, our duty is to do what is in the best interest of the client (keep that at the back of your mind). If the agent doesn't have experience selling a certain type of property, the best option for the client is to refer them to someone with more experience or work with your managing broker - you would be looking for the best option from the ones you're given. Hope that helps
![Types of Life Estate - Freehold Estate [Illinois Broker Exam]](http://i.ytimg.com/vi/5Et8t366GGk/mqdefault.jpg)
![Types of Life Estate - Freehold Estate [Illinois Broker Exam]](/img/tr.png)
Also ifbyou don't mind breaking down the client vs consumer vs customer
I so appreciate your videos i was literally at a loss with metes & bounds rectangular survey and lot & block. I always skipped these questions however with your video explanation I understand it crystal clearly. Along with thr acronyms you provide to help remember federal protected classes & the acronym for Value (DUST) these help tremendously 😊
You're welcome! I'm glad the videos are helping!
I should have a video on client, customer and consumer. If not, I should do one soon. To answer your question:
Client - who you work FOR (the buyer or seller you're representing)
Customer - who you work WITH (if the seller is your client, the buyer could be your customer. an inspector, an appraiser, lender - you don't represent them, but they are part of the transaction)
Consumer - someone seeking information (can eventually become a client or customer). Example - someone who comes to your open house or calls you about a listing they found online.
Hope this helps.
Hey Nonye, came across two questions. Can you please let me know why one answer says you can transfer and the other answer says you can’t transfer.🤦🏽♂️
Which of the following characteristics does NOT describe a fee simple estate? Answer: (D) Transferred upon the death of the owner
Explanation:
A fee simple estate is not transferred upon the death of the owner. It provides absolute ownership, potentially infinite duration, and may be subject to restrictions or conditions, “but it does not automatically transfer upon the owner's death.”
Which term refers to the largest estate or ownership in real property? Answer: (A) Fee simple estate
Explanation: The fee simple estate refers to the largest and most complete form of ownership in real property. It provides the owner with absolute rights and control over the property and can be freely transferred or inherited.
The difference is the phrase "automatically transfer upon the owner's death." It can be transferred, and it can be inherited but it's not automatic upon death. That's a life estate
Hello , do you do private tutoring ?
Hi, not at this time. That's why I resumed these live sessions. I will be doing another on before May is over. Be on the lookout 😉
Good morning, missed the live but just watched ty for the information.
My question is regarding type of real estate brokers are allowed to assist clients in buying. There was a question on the exam that asked if a broker doesn't have enough background in selling a certain type of property yet they have a client who wants to purchase a building or some type of business. What should the broker do if they lack experience. That confused me
Hey, our duty is to do what is in the best interest of the client (keep that at the back of your mind). If the agent doesn't have experience selling a certain type of property, the best option for the client is to refer them to someone with more experience or work with your managing broker - you would be looking for the best option from the ones you're given. Hope that helps
Hello! Can you recommend an online school plz.
@@Sheila945 Sure! Check out the CE Shop bit.ly/getlicensedinIL
@@realestatetutoress Thank you so much! I wish I would’ve know about your channel sooner 😉
@@Sheila945 you're welcome! Much success to you
@@realestatetutoress thank you 🙏🏾
What the website to practice for the exam I don’t see none of your videos talking about that