We’ve broken down the important parts of the candidate handbook into easy to read snippets which are easy to search,...
I. Property ownership (Salesperson 8%; Broker 10%) A. Real versus personal property; conveyances B. Land characteristics and legal descriptions Types...
II. Land use controls and regulations (Salesperson 5%; Broker 5%) A. Government rights in land Property taxes and special assessments...
III. Valuation and market analysis (Salesperson 7%; Broker 7%) A. Appraisals Purpose and use of appraisals for valuation General steps...
IV. Financing (Salesperson 10%; Broker 8%) A. Basic concepts and terminology Points LTV PMI Interest PITI Financing instruments (mortgage, promissory...
V. General principles of agency (Salesperson 13%; Broker 11%) A. Agency and non-agency relationships Types of agents and agencies Other...
VI. Property disclosures (Salesperson 6%; Broker 7%) A. Property condition Property condition that may warrant inspections and surveys Proposed uses...
VII. Contracts (Salesperson 17%; Broker 18%) A. General knowledge of contract law Requirements for validity Factors affecting enforceability of contracts...
VIII. Leasing and Property Management (Salesperson 3%; Broker 5%) A. Basic concepts/duties of property management B. Lease Agreements Types of...
IX. Transfer of Title (Salesperson 8%; Broker 7%) A. Title Insurance What is insured against Title searches, title abstracts, chain...
X. Practice of real estate (Salesperson 13%; Broker 14%) A. Trust/escrow accounts Purpose and definition of trust accounts, including monies...
XI. Real estate calculations (Salesperson 10%; Broker 8%) A. Basic math concepts Loan-to-value ratios Discount points Equity Down payment/amount to...
Real Estate Commission (Sales Associate 5 Items, Broker 7 items) 1. General Powers a. Authority to issue licenses b. Examination...
Requirements for a License (Sales Associate 10 items, Broker 8 items) Activities requiring a license Eligibility Renewal of License License...
Brokerage Activities and Requirements (Sales Associate 18 Items, Broker 18 Items) Broker/sales associate relationship a. Team and group management and...
License Law Requirements for Contracts (Sales Associates 6 Items, Broker 6 Items) Statute of Frauds Listing Contracts Purchase Contracts a....
Disclosures and Agency Issues (Sales Associate 8 Items, Broker 8 Items) Agency relationships, requirements, and disclosure Disclosures of personal interests...
Property Management (Sales Associate 3 Items, Broker 3 Items) Must have written agreement Procedures and guidelines Handling of security deposits