Humber College Real Estate Essentials Topics
Get Your Humber College Study Materials Here: https://www.humberrealestate.net/
Humber College Real Estate Essentials Topics
Amy Zhang developed these audio quizlets to aid students in studying for the real estate salesperson program exams.
As a program participant herself, she found these notes invaluable for her own exam preparation.
How to Use the NotesPassively Listen
Initially, listen during other activities such as working out or driving for a general understanding.
Rewind and replay unclear sections for better clarity.
Active Listening
After each section, pause to reflect on the information, aiding in retention.
Study Sessions
Re-listen to the notes without distractions when feeling ready.
Pause for questions asked, answer them, then listen to the response.
Continue this method until you feel prepared for the exam.
Module 1: Introducing the Real Estate Profession
Understanding what REBBA stands for: The Real Estate and Business Brokers Act.
Identifying the enforcer of REBBA: RECO (Real Estate Council of Ontario).
The purpose of REBBA: Ensuring consumer protection and maintaining the integrity of real estate services.
The Ministry of Government and Consumer Services’ responsibility for REBBA.
RECO’s roles include interpreting, enforcing, and recommending amendments to REBBA.
Registrant
Definition: Any individual or brokerage registered to trade real estate.
Purpose of REBBA Code of Ethics
Establishes minimum standards to prevent misunderstandings between real estate professionals and their clients.
Fundamental Objective of Code of Ethics
Ensuring the protection of sellers and buyers by setting professional and ethical standards.
Three Tenants of Code of Ethics
Fairness and honesty.
Providing conscientious and competent service.
Recommending services from others when necessary.
RECO Administration
Administers REBBA for the Ontario provincial government.
RECO Mission
Aims to ensure a safe, fair, and informed real estate market in Ontario.
Working in the Public Interest
Enforces standards for registration and maintenance.
Sets educational benchmarks.
Manages insurance requirements including consumer deposit protection.
Handles inquiries and complaints, ensuring brokerage compliance.
Focuses on consumer protection education.
Brokerages, Brokers, Salespeople
Addresses and resolves industry-related issues.
Inspections
Ensures compliance and educates on regulations.
Consumer Protection
Provides essential information and education to sellers.
Real Estate Licensing in Ontario
Requirements to Trade in Real Estate
Humber College Real Estate Essentials Topics. Registration with RECO is mandatory.
Trading encompasses various real estate activities from listing to negotiating offers.
Definition of Trading
Includes listing properties, showing properties, and negotiating transactions.
Key Term
Registrant: Refers to all entities registered under RECO.
Professional Categories under RECO
Brokerage, Broker, Salesperson classifications.
Definition of Brokerage
Describes business entities trading in real estate on behalf of others.
Definition of Broker
An individual registered under RECO to trade in real estate.
Definition of Salesperson
A registered individual employed by a brokerage to trade in real estate.
Requirements to Maintain Registration as a Salesperson
Includes annual fees and ongoing educational criteria.
Definition of Broker of Record
A broker designated to ensure a brokerage’s compliance with RECO regulations.
Job of the Broker of Record
Oversees all brokerage activities.
Registration Requirements with RECO
Complete educational prerequisites and register once employed by a brokerage.
Post-Registration Education
Complete within two years after the initial exam.
Finding Employment
Must secure a position at a brokerage within one year before applying for registration.
Registration Documents
Include application forms, fees, and necessary checks.
Factors Affecting Registration
Reviews individual circumstances such as criminal records or bankruptcy.
RECO Insurance Coverage
Includes consumer deposit protection among other safeguards.
RECO Insurance Timing
Annual premium deadlines and policy periods.
Registration Renewal
Occurs every two years with RECO.
Real Estate Market Types
Defines seller’s, buyer’s, and balanced markets.
Main Areas of Real Estate
Encompasses residential, commercial, and other property types.
Types of Real Estate Properties
Various categories including residential, rural, and recreational.
Knowledge for Selling Rural and Recreational Properties
Understands utilities, terrain, zoning, and environmental laws.
Knowledge for Selling Farms
Covers land use, accessibility, and marketing strategies.
Factors Impacting Earnings
Influenced by market conditions and seasonal trends.
Commission Sharing Methods
Describes different brokerage compensation models.
Completing the Module
Reviews property types, earnings factors, and local regulations.
Why Choose Our Study Materials Package:
· Aligned with Humber College Curriculum: Tailored specifically to meet the standards and expectations of Humber College's real estate exams, ensuring relevance and effectiveness.
· Expertly Curated Content: Developed and reviewed by real estate professionals, ensuring accuracy, comprehensiveness, and up-to-date information.
· Flexible and Comprehensive Learning Tools: Offering a blend of readings, questions, and flashcards, this package supports various learning styles and schedules, enabling efficient and effective study.
· Confidence to Excel: Equip yourself with the knowledge, skills, and insights necessary to confidently challenge the Humber College Real Estate exams and advance towards obtaining your real estate license in Ontario.
Prepare to succeed in the Ontario real estate industry with the Humber College Ontario Real Estate Exam Preparation Study Materials Package. This all-in-one study solution is your key to mastering the courses, acing the exams, and stepping confidently into your real estate career. Get ready to unlock your potential and embark on a rewarding journey in the real estate profession.
Course 1: Real Estate Essentials
Introducing the Real Estate Profession
Introducing the Fundamentals of Real Estate
Introducing Property Ownership, Rights and Limitations
Introducing Land Description and Land Registration
Introducing the Real Estate and Business Brokers Act (REBBA)
Introducing the Key Legislation and Regulations
Introducing Other Relevant Legislation and Regulations
Course 2 Residential Real Estate Transactions
Explaining Services Available to a Seller or a Buyer
Documenting Relationships
Understanding Residential Property Types, Ownership, and Planning
Factors Impacting Residential Real Estate Negotiations
The Financial Aspects of the Buying and Selling Process and the Role of Third-Party Professionals
Understanding Residential Construction – Structural Components
Understanding Residential Construction – Mechanical Systems
Understanding Residential Construction – Internal and External Finishes
Preparing to Market a Residential Real Property
How Property Conditions Impact Disclosure Requirements
Property Value and Listing Price Considerations
Listing and Marketing Properties
Showing Residential Properties and Advising on Properties of Interest
The Offer Process and Regulatory Obligations
Introducing a Residential Agreement of Purchase and Sale
Completing a Residential Agreement of Purchase and Sale Including Terms for aBuyer or Seller
Writing Conditions to be included in an Agreement of Purchase and Sale
Completing a Residential Agreement of Purchase and Sale, Countering an Offer,and Working with Competing Offers
Additional Sale-Related Documents and Other Legal Obligations
Completing Real Estate Transactions
Course 3: Additional Residential Real Estate Transactions
Introducing Residential Condominiums
Preparing to Sell Residential Condominiums
Completing Agreements of Purchase and Sale for Residential Condominiums
Transactions Involving New Construction
Transactions Involving Rural Properties
Transactions Involving Residential Multi-Unit Dwellings
Preparing to Lease Residential Real Properties
Preparing to Lease Residential Condominiums
Completing Agreements to Lease for Residential Tenancies
Course 4: Commercial Real Estate Transactions
Introducing Commercial Real Estate
Understanding Commercial Construction
Identifying Requirements for Office and Retail Properties
Preparing to Sell Office and Retail Properties
Preparing to Sell Commercial Condominiums
Identifying Requirements for Industrial Properties
Preparing to Sell Industrial Properties
Showing Office, Retail or Industrial Properties and Advising on Properties of Interest
Completing Agreements of Purchase and Sale for Office and Retail Properties
Completing Agreements of Purchase and Sale for Commercial Condominiums
Completing Agreements of Purchase and Sale for Industrial Properties
Preparing to Lease Office, Retail and Industrial Properties
Transactions Involving Commercial Leasing
Transactions Involving Development Land and Farms
Transactions Involving Brokering the Sale of a Business
Home
Shop
/
Click Here to See Our Google Reviews
Home
Humber Real Estate Courses
Student Reviews
Store
Copy of 30% Off Promo
Blog
$110 All Salesperson Courses Discount
$19 Course 1
$39 Course 2
$39 Course 3 & Sim 1
$35 Course 4
$15 No High School Admissions
$50 Broker Qualifying Exam
$50 Broker Program ExamBroker Program Exam
Terms & Conditions