24-Hour Walkthrough: Term or Condition? Don’t Risk Killing the Deal!
Release Date: 07/30/2025
Who Pays Real Estate Listing Expenses if the Seller Changes Their Mind?
Alberta Real Estate Tutor
Enroll in courses here: https://www.albertarealestateschool.com/shop/ or call our Success Team at 📞: 587-936-7779 What happens to listing expenses if a seller changes their mind during a Seller Representation Agreement? Real estate professionals are generally paid through commission when the property sells — meaning they are paid based on results, not simply for the time, effort, or expenses invested. During a listing, a realtor may incur costs such as: ✔️ Professional photography ✔️ Advertising and marketing expenses ✔️...
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Trust Account vs Operating Account What Happens During a Trust Shortage
Alberta Real Estate Tutor
Trust Account vs Operating Account: What Happens During a Trust Shortage? Enroll in courses here: https://www.albertarealestateschool.com/shop/ or call our Success Team at : 587-936-7779 What happens if there is a trust account shortage in a real estate brokerage? Real estate brokerages typically maintain separate accounts, including: ✔️ Trust Account – Holds money belonging to clients, such as deposits. ✔️ Operating Account – Used for brokerage business expenses. When acting as the listing brokerage, a buyer’s deposit is usually held in the trust account. But...
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Title Insurance Explained Lender Policy vs Owner Policy
Alberta Real Estate Tutor
Enroll in courses here: or call our Success Team at : 587-936-7779 What’s the difference between Lender Title Insurance and Owner Title Insurance? Lender Policy A lender title insurance policy protects the mortgage lender’s interest in the property. It helps protect the lender against certain title-related risks such as: ✔️ Fraud or forgery ✔️ Title defects ✔️ Registration errors ✔️ Unknown liens or ownership issues This policy protects the lender’s mortgage, not the homeowner. Owner Policy An owner title insurance policy protects the property owner. It can help...
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Why Some Real Estate Agents Succeed: The Power of Lead Generation
Alberta Real Estate Tutor
Enroll in courses here: or call our Success Team at : 587-936-7779 What separates successful real estate agents from those who struggle to get started? Real estate is often misunderstood as simply “joining a brokerage and getting clients.” In reality, it operates much more like running your own business. One of the biggest success factors is having: ✔️ A business plan ✔️ A marketing plan ✔️ A consistent lead generation strategy A lead is someone who may be interested in buying or selling real estate. Successful agents typically build a lead funnel — a system for...
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Sublease vs Assignment of Lease What’s the Difference
Alberta Real Estate Tutor
Enroll in courses here: https://www.albertarealestateschool.com/shop/ or call our Success Team at : 587-936-7779 Confused about subletting, assignment of lease, and privity concepts? Here’s a simple breakdown. Sublease (Subletting) A tenant rents part or all of their leased space to another person while remaining on the original lease. Example: A business has extra office space and sublets part of it to another professional. In a sublease: ✔️ The original tenant remains on the lease ✔️ The original tenant is still responsible to the landlord for rent,...
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Seller Representation Agreements: What Happens If the Seller Doesn’t Renew?
Alberta Real Estate Tutor
Seller Representation Agreements: What Happens If the Seller Doesn’t Renew? Enroll in courses here: https://www.albertarealestateschool.com/shop/ or call our Success Team at : 587-936-7779 If a seller decides not to renew a Seller Representation Agreement, do they still owe the agent for expenses? Not typically. There is an important difference between: ✔️ Ending a contract early (changing their mind during the agreement term) ✔️ Choosing not to renew after the agreement expires If a seller decides partway through the agreement that they no longer...
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RMS Measurements Do You Measure a House From the Inside or Outside
Alberta Real Estate Tutor
Enroll in courses here: https://www.albertarealestateschool.com/shop/ or call our Success Team at : 587-936-7779 Confused about RMS measurements and bay windows? When measuring a home under the Residential Measurement Standard (RMS), the home is generally measured from the exterior. However, special features such as a bay window can require additional calculations because of their shape — whether rectangular, curved, or otherwise irregular. In those cases, formulas may be used to properly calculate that section, but the overall property measurement process...
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Real Estate Incentives: Do Promotions Have to Be Offered to Everyone?
Alberta Real Estate Tutor
Enroll in courses here: https://www.albertarealestateschool.com/shop/ or call our Success Team at : 587-936-7779 Real Estate Incentives: Do Promotions Have to Be Offered to Everyone? Do real estate incentives always have to be advertised publicly to everyone? Not necessarily. An incentive does not always mean a broad public advertisement. Sometimes, a brokerage or real estate professional may communicate an incentive directly to an individual client or prospect. For example, a realtor might tell a potential client: "If you list your home with us within the next 90...
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Purchase Contract vs Addendum: Where Do Inclusions Go in Alberta Real Estate?
Alberta Real Estate Tutor
Enroll in courses here: https://www.albertarealestateschool.com/shop/ or call our Success Team at : 587-936-7779 Purchase Contract vs Addendum: Where Do Inclusions Go in Alberta Real Estate? Should a client add something directly into the purchase contract or use an addendum? The answer depends on when the change is being made. If parties are still negotiating the offer, additions such as inclusions or negotiated terms are typically added directly into the purchase contract under Additional Terms. If changes happen later — for example after a home...
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Post Tension Cables in Condos Why Are They a Concern
Alberta Real Estate Tutor
Post-Tension Cables in Condos: Why Are They a Concern? Enroll in courses here: https://www.albertarealestateschool.com/shop/ or call our Success Team at : 587-936-7779 What are post-tension cables, and why can they affect condo purchases and financing? Many older high-rise buildings used post-tension cable systems as part of their structural design. These cables are typically made of steel and protected by a coating or encasing material. Over time, deterioration can occur. If moisture reaches the steel, corrosion and rust can weaken the system. Why does this matter?...
info_outlineShould you write the 24-hour walkthrough as a term or a condition in your real estate contract?
🤔 In this video, we break down one of the trickiest exam (and real-life!) questions Alberta real estate students face — and explain why getting it wrong could kill your deal.
💡 You’ll learn: The key difference between a term and a condition Why a 24-hour walkthrough should be a term How conditions work — and why missing a waiver deadline matters Whether you're preparing for the RECA exam or getting ready for your first transaction, this is a must-know!
👉 Subscribe for more exam tips, practice questions, and Alberta-specific real estate training from The Alberta Real Estate School. Start your career in Real Estate today! Our courses equip you with the skills needed to pass your licensing exam in Alberta. Link in the comments.
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