OMG, I took 75 hours course and I didn't know anything at all about Real Estate, however just for listening to your videos I feel ready for the test. I love the real example you share, help very much to understand the concept. Thanks so much!
I watched a lot of your videos and passed the national portion of my AR real estate exam the first time. And it had been almost a year since I had taken the real estate course! I failed the state portion by 3 points but passed it a couple of weeks later. Thank you for doing this- it’s so helpful to aspiring agents.
You explain the subject in the exact way my brain understands, some other instructors here on u tube, are redundant or confusing... You are perfect, thank you so much!
You have got to be the best here..I watched many other people and nobody explains it as simple yet informative as you! Hope to pass my second try! Thanks!
Hi Lola, CONGRATULATIONS! Thank you for leaving this comment. I am glad the videos helped you pass your exam. Best of luck in your new career! You Will Do GREAT!
I got confused with Implied Agency. I would have thought that the neighbor in your scenario would then become your customer, not client. So, I am misunderstanding something somewhere. I am really going to have to get a better understanding of Sub Agency as well. Thank you so much for your videos. I follow a few channels, but yours is #1
yikes- I am a bit more confused now. All of my licensing course refers to buyers agents/sellers agents only owing fiduciary duties to their 'clients', and the reasonable skill/honesty to the "customer" in any given transaction- but how I am hearing it here is different. Does this vary by state?
No... everyone has a legal name. You have to know who is who in each transaction. For example, the buyer may be an offeror or offeree, an optionee, vendee, grantee, etc. It depends on the type of transaction they are in. Same with sellers, tenant, landlords, etc. You have to know this for your real estate exam for sure...
@@TheRealEstateClassroom I am sorry, I think I asked my question incorrectly. I meant that you only owe the fiduciary duties of confidentiality etc to your clients, and the skill of reasonable care to customers (cooperative agents clients) is how we have been taught. I wasn't inquiring on their names or labels as much as being confused by that concept. :)
@@ajjbo I see what you're asking... and the answer is it does vary a bit from state to state. However, the basic fiduciary duties still apply. We owe our client (those we represent) confidentiality, skill/care, accounting, loyalty, obedience, and disclosure... your state may use different terms for the state portion of the exam. But generally they are the same. What do we owe our customers (those we don't represent) disclose agency, no misrepresentation, present offers in a timely manner, provide good service and provide information. This would also apply to cooperating agents.
Hello! Love watching your videos! They are informative and easy to understand. I wasn't sure how to answer a question I had in the national test. Hope u can help me figure out the answer. It was something like this: The owner of an apartment building had a contract with brokerage to find tenants ( I don't think they mentioned a property manager). There was a fire in the building and three tenants died. Their families are suing . Who would be responsible? The owner? The real state company and the owner? Or would they use E&O? Hopefully it isn't too confusing to understand. I don't remember all the details. Thank you!
Hi Jackkie... do you remember the choice of answers. This matters because the test is about selecting the best answer not necessiarily the correct... if that makes sense.
The possible answers were: Was the owner responsible? Can the families of the dead tenants sue the owner? , Were both owner and real estate agent responsible? And Would the owner use the E&O in cases like this? These are some of the possible questions. Thank you so much!
Hi Deana, 98% of the time you are correct. When I do an update I will better clarify my remarks. However, there are times when there may be more than one broker. For example, in some states dual agency would be required if: you represented a buyer that wants to make an offer on a listed property you had previusly listed and is now listed with another broker. Since you know confidential information about your previous client, a dual agency may be required depending on the state's specific license law.
would you please let me know the right answer for the following questions? These are so confusing. I failed the state exam a few times, not sure right answer s. Please help me. Principal broker is not responsible for: A. Overseeing advertisement B. Final closing review C. Escrow account Notification that a person is licensed agent is required except: A. On all signs B. On website & social media C. When advertising the sale of personal property D. When visiting open house while on vacation Who call 811? A. Anybody before excavation B. Only owner with machinery tool before excavation
Special agency mean the agent represent the client in a real estate transaction but for a limited time, limited purpose and with limited authority and for one specific act
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OMG, I took 75 hours course and I didn't know anything at all about Real Estate, however just for listening to your videos I feel ready for the test. I love the real example you share, help very much to understand the concept. Thanks so much!
Thank you, Ruth. Truely appreciated!
I watched a lot of your videos and passed the national portion of my AR real estate exam the first time. And it had been almost a year since I had taken the real estate course! I failed the state portion by 3 points but passed it a couple of weeks later. Thank you for doing this- it’s so helpful to aspiring agents.
Thank you! I appreciate the feedback!
Your videos are the most complete and clear explanation from all other Real Estate UA-cam Channels. Thank you so much!
You're welcome. Thank you for leaving a comment, Best of luck with your real estate career
You explain the subject in the exact way my brain understands, some other instructors here on u tube, are redundant or confusing... You are perfect, thank you so much!
Thanks for the comment.... I really appreciate it! :o)
OMG...I finally am understanding this Agency stuff. Thank God for you.
Thank you for the awesome and kind comments 😀
Thank you so much for these examples, it really simplifies learning the concept🙏
Hi Jak... You're welcome! And thank you for leaving a comment we really appreciate it!
Always a thumbs up, Paul. I sure wish I would have found your channel earlier. You help a lot, thank you very much.
Glad to help... I wish you would have found us earlier too :o)
You have got to be the best here..I watched many other people and nobody explains it as simple yet informative as you! Hope to pass my second try! Thanks!
I agree 👍
Passed my test today on the 1st try!! Thanks to your videos!!
Hi Lola, CONGRATULATIONS! Thank you for leaving this comment. I am glad the videos helped you pass your exam. Best of luck in your new career! You Will Do GREAT!
@@TheRealEstateClassroom Thank you so much!!! The sky is the limit! :) I will be back after another milestone to share.
@Lola Coz Kitchen I look forward to it! 😀
You are the best!
Thank you!
I got confused with Implied Agency. I would have thought that the neighbor in your scenario would then become your customer, not client. So, I am misunderstanding something somewhere. I am really going to have to get a better understanding of Sub Agency as well.
Thank you so much for your videos. I follow a few channels, but yours is #1
Awesome explanation of this concept. Thanks a lot.
Most welcome!
GIOOD STUFF!!!!
About to take my exam
J Sandy.... You will do GREAT! :o)
Sub agency was 100 percent on my exam
Any advice for passing the rhode island law real estate exam? Seems like its drastically more difficult than it should be.
yikes- I am a bit more confused now. All of my licensing course refers to buyers agents/sellers agents only owing fiduciary duties to their 'clients', and the reasonable skill/honesty to the "customer" in any given transaction- but how I am hearing it here is different. Does this vary by state?
No... everyone has a legal name. You have to know who is who in each transaction. For example, the buyer may be an offeror or offeree, an optionee, vendee, grantee, etc. It depends on the type of transaction they are in. Same with sellers, tenant, landlords, etc. You have to know this for your real estate exam for sure...
@@TheRealEstateClassroom I am sorry, I think I asked my question incorrectly. I meant that you only owe the fiduciary duties of confidentiality etc to your clients, and the skill of reasonable care to customers (cooperative agents clients) is how we have been taught. I wasn't inquiring on their names or labels as much as being confused by that concept. :)
@@ajjbo I see what you're asking... and the answer is it does vary a bit from state to state. However, the basic fiduciary duties still apply. We owe our client (those we represent) confidentiality, skill/care, accounting, loyalty, obedience, and disclosure... your state may use different terms for the state portion of the exam. But generally they are the same. What do we owe our customers (those we don't represent) disclose agency, no misrepresentation, present offers in a timely manner, provide good service and provide information. This would also apply to cooperating agents.
@@TheRealEstateClassroom thank you for responding! I very much appreciate it!
@@ajjbo you're welcome!
Hello! Love watching your videos! They are informative and easy to understand. I wasn't sure how to answer a question I had in the national test. Hope u can help me figure out the answer. It was something like this: The owner of an apartment building had a contract with brokerage to find tenants ( I don't think they mentioned a property manager). There was a fire in the building and three tenants died. Their families are suing . Who would be responsible? The owner? The real state company and the owner? Or would they use E&O? Hopefully it isn't too confusing to understand. I don't remember all the details. Thank you!
Hi Jackkie... do you remember the choice of answers. This matters because the test is about selecting the best answer not necessiarily the correct... if that makes sense.
The possible answers were: Was the owner responsible? Can the families of the dead tenants sue the owner? , Were both owner and real estate agent responsible? And Would the owner use the E&O in cases like this? These are some of the possible questions. Thank you so much!
Hi, In Duel agency isn't there only "One" Broker? you mentioned both broker's must sign?
Hi Deana, 98% of the time you are correct. When I do an update I will better clarify my remarks. However, there are times when there may be more than one broker. For example, in some states dual agency would be required if: you represented a buyer that wants to make an offer on a listed property you had previusly listed and is now listed with another broker. Since you know confidential information about your previous client, a dual agency may be required depending on the state's specific license law.
Question for ya! Is Ratification agency, under the umbrella of Universal agency?
would you please let me know the right answer for the following questions? These are so confusing. I failed the state exam a few times, not sure right answer s. Please help me.
Principal broker is not responsible for:
A. Overseeing advertisement
B. Final closing review
C. Escrow account
Notification that a person is licensed agent is required except:
A. On all signs
B. On website & social media
C. When advertising the sale of personal property
D. When visiting open house while on vacation
Who call 811?
A. Anybody before excavation
B. Only owner with machinery tool before excavation
subagency is very confusing
Hi Linda... it is very confusing...
dual agency is happy days as a agent lol
True that!
Great Video! Watching these, I failed my test.
Sorry to hear that... Don't give up.... you will nail the next one
So Special Agency means anything?
Special agency mean the agent represent the client in a real estate transaction but for a limited time, limited purpose and with limited authority and for one specific act
Thank you
Dual agency is the same as INTERMEDIARY. You cant write anything for a customer you owe customers ONLY FAIRNESS and HONESTLY....
I'm not understanding your post fully, please expand...
yes I did pass. :)
@@deanamichele13 That's Awesome! Congrats!
Subagency sounds really stupid. Why would I represent someone that 1) I don't know and 2) isn't even affiliated with my company?
It does have a place. In particular it can make sense in very small communities. However, generally speaking I don't disagree. Thank you, Danny
Subagency is a horrible thing, I believe.
There is a place for it but that's pretty rare in my opinion
Quick question.
So implied agency can become dual agency?
Confused