Episode 096 - Real Estate Exam Questions: Listing Contracts
A-Ha! Real Estate Exam Prep Podcast
Release Date: 11/02/2023
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A-Ha! Real Estate Exam Prep Podcast
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A-Ha! Real Estate Exam Prep Podcast
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A-Ha! Real Estate Exam Prep Podcast
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A-Ha! Real Estate Exam Prep Podcast
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A-Ha! Real Estate Exam Prep Podcast
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A-Ha! Real Estate Exam Prep Podcast
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Episode 102 - Real Estate Exam Questions: Real Estate Finance, Lending, and Math, Part 1
A-Ha! Real Estate Exam Prep Podcast
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Episode 101 - Real Estate Exam Questions: Fair Housing
A-Ha! Real Estate Exam Prep Podcast
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info_outlineEpisode 096 - Real Estate Exam Questions: Listing Contracts
Going through state exam questions to help real estate students pass their state exam.
01:55 – November: My favorite holiday is Thanksgiving because of the food. Giving thanks to my family, friends, and all the listeners for your loyalty and support.
04:10 – List of recent grads: Sandra, Laura, Bess, Shannon, Bella, Sonita, Paige, Megan, Chasity, Matt, Amy, Saul, Jacob, Stuart, Ronda, Zach, Timothy, Avo, Kali, Jessica, John, Jeff, Kelly, Leslie, Kay, Marissa, Andrea, Sarah, Stephanie, Keesha, Madison, Tiffany, Emilie, Tatyana, Tarri, Renea, Natalia, and Mindy.
05:30 – Message from Sandra.
07:30 – Episode Focus: Listing contracts
08:10 – Three types of listing contracts (listing agreements) are exclusive right to sell, exclusive agency, and open listing.
14:50 – Net listing
18:55 – All listings are required to have an expiration date. Listings can be extended or renewed.
20:30 – Listing contracts are between the broker and the seller, not the agent.
22:40 – Net to seller math: put your focus on the seller’s perspective.
24:10 – Put all the costs on one side of the equation.
25:00 – Sales price x (100% - Total Commission Rate) – Closing and other costs to seller = Net to seller
29:00 – If a seller needs to net $50,000 after the sale, how much must the real estate sell for if the selling costs include a 7% commission and $1,200 in other expenses? Answer: $50,000 + $1,200 = $51,200 / 0.93 = $55,054
31:00 – Test questions about listing contracts, listing agreements, and net to seller calculations. Don’t forget to work your math questions backwards by using the answers to work the question.
49:55 – December’s episode will be about contracts including contract formation, offer, counteroffer, acceptance, valid, void, and voidable, and more.
Go to www.ahareep.com and sign up for the program for only $35, use discount code: legend15 to save 15% off.
Go to www.indianarealestateinstitute.com for Indiana real estate classes.
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