Real Estate

Earn back buyer's real estate agent commission - Become an Agent. New Humber College Course is now live!

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  • Jun 26th, 2023 4:42 pm
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Newbie
Nov 20, 2013
49 posts
16 upvotes
I just received my mark for the first course. I passed. I did put in a decent amount of time into it and still felt I had to use the process of elimination on a large portion of the test.
The guys and girls that did studied for the course for a few hours or a few days. Well done. It took me substantially longer including serious cram session of 6-8h a day for the last few days.

Something being easy or hard is relative. Preparation is key.

91%
Member
User avatar
Sep 20, 2015
256 posts
309 upvotes
Ottawa, ON
Registration for Course 3A (The Real Estate Transaction - General) and 3B (The Residential Real Estate Transaction) is bit confusing. I have registered successfully for both (e-learning option), however exam detail is showing for 3B only.
I see this message as part of 3A - "Content from this portion will be evaluated as part of your examination, as scheduled in your classroom enrolment"
Can someone who went through e-learning for this 3A and 3B please explain how does this work?
Q1) Does one exam cover both 3A and 3B course together?
Q2) If yes, is exam still 3 hours ?

Thank you very much in advance.
Member
Dec 3, 2003
260 posts
78 upvotes
For those who completed the first exam, is it feasible to study using only MiniCram notes and completing all exam questions in two weeks?

I procrastinated and have the exam on July 14, and expect to receive the MiniCram materials tomorrow after purchasing them this evening. I'm tempted to hunker down for 1-2 hours per day over the next 13 days and get it over with as it seems relatively easy, but I don't want to underestimate the exam either. I recognize I need to apply myself better and adhere to a study schedule for the next courses :)

I tend to be a "lazy smart" person, and would defer by another week or so to force myself to complete course 1 by the end of July. I memorize things pretty easily, but understand the math questions will take some practice.

Thanks RFD for helping me decide whether to value $50 or my sanity more! ;)
Deal Expert
User avatar
Aug 2, 2010
15196 posts
5016 upvotes
Here 'n There
Some study a lot and fail. Some less and pass. Depends on your brain, memory, etc. We are not all the same...
Sr. Member
Jan 12, 2007
546 posts
502 upvotes
Orleans
straysheepie wrote: For those who completed the first exam, is it feasible to study using only MiniCram notes and completing all exam questions in two weeks?
Absolutely. If you can confidently answer the minicram tests (working through them, no just "remembering"), the actual test is a walk in the park.
I mean it's the exact same test, just different numbers used. Ie 5% instead of 6%, etc.
I read through the text for #1 once quickly (10hrs?) then 5hr on Minicram. I got 98% on test one.

Honestly, I found the first 10-15 questions hardest (remembering all the associations and whatnot). The last 75% is basic math stuff, area of a house, how much total interest paid over x time, etc.

Without being insulting, if you have a decent grasp of highschool math you could probably get the 75% just by guessing. Some of the answers I found I calculated out, just to then notice the "options" made the correct choice obvious.
Example: Find the average interest between a blended mortgage of 4% and 8%. Options were something silly like 2%, 5%, 9% and 9.5%. Basic logic tells you the answers that are impossible.
Deal Expert
User avatar
Aug 2, 2010
15196 posts
5016 upvotes
Here 'n There
Absolutely, if you are 97gst.

These 'hot little can I study to pass the exam' posts are annoying. Do what makes you feel confident and ignore the chattering classes...
Sr. Member
Jan 12, 2007
546 posts
502 upvotes
Orleans
I was simply trying to provide a reference point for him.

If he can ace the minicram sample tests, then he should be fine on the actual test. They are an excellent way to tell if you have a grasp on the material, and have studied "enough".
If he can't ace the minicram test, then he needs to spend more time studying. Whether it takes 10hrs or 100hrs depends on the student and their education/experience level in the subject matter.
Member
User avatar
Sep 20, 2015
256 posts
309 upvotes
Ottawa, ON
wJUvA7ZjUFZ20WkwWGhxy wrote: Anyone know the answer to this?
Here is response for OREA.
Q1- yes, the exam covers both courses-3A and 3B together

Q2- yes, the exam is 50 multiple choice questions and is 3 hours long

the format is:

12 1 point questions

26 2 point questions

7 3 point case study questions

5 3 point simulation questions

Hope this helps!

Victoria
Deal Addict
May 5, 2007
1212 posts
581 upvotes
North York
For those who are now agents and practicing part time. Which broker worked out for you? Did you have hard time finding one?

Fee structure, commission split, desk fees etc..
Member
Feb 15, 2018
449 posts
558 upvotes
Edmonton
afshaikh wrote: For those who are now agents and practicing part time. Which broker worked out for you? Did you have hard time finding one?

Fee structure, commission split, desk fees etc..
Finding a brokerage to take you on is not difficult at all. In fact, as long as you can fog a mirror you should be just fine. The real challenge is you identifying a brokerage that meets your needs. Really hard for people to recommend unless you give us more detail on what you are looking for in a brokerage .e.g. no desk fees, no/low commissions/ training and mentorship/ office space/brand name recognition e.t.c.
Edmonton area Realtor
Sr. Member
Jul 10, 2018
567 posts
588 upvotes
Besides lower or non-existent desk fees, what are the advantages, if any, of working for a no-name brand brokerage? It seems to me that the successful agents usually work for the bug names - RE/MAX, Royal LePage, Century, Sutton, Keller Williams.
Penalty Box
Mar 27, 2004
10493 posts
9009 upvotes
Toronto
Brand matters, not for everyone but some it does.
Also the support system matters, what kind of training is being offered and referrals.
Remax has a referral system for their agents. but remax has more fees usually.
I believe zolo also gives referrals but they take like 50% .

Best thing is to contact a broker of record and go in and meet them. I find broker of records normally do not do things over emails. they want you to go in to meet them to discuss the different plans they have.
Full-time Realtor
Member
Feb 15, 2018
449 posts
558 upvotes
Edmonton
TheSinner wrote: Besides lower or non-existent desk fees, what are the advantages, if any, of working for a no-name brand brokerage? It seems to me that the successful agents usually work for the bug names - RE/MAX, Royal LePage, Century, Sutton, Keller Williams.
Brand can be overrated. Was just talking to a guy from one of the big names you mentioned there and he clarified two things I thought would be an advantage of a brand name

1) Marketing - He said the marketing provided by these brands is so general and does not hit your particular market segment. Therefore, you will still have to do your own marketing, anyway.
2) Training - I was under the impression you get more training and mentoring under the big brands vs no name indie. He clarified that since these big brand brokerages are usually franchises, training is hit or miss depending on each individual brokerage's style. I am with a small indie and my broker has been so helpful with pointing me in the right direction.

By "successful agent" what are you referring to. The big names are known for inducting their top sales people into some honours program like "president's circle" or something along those lines. So they would put something like president's club 3 years in a row on their business cards. All this means is that they were the top sales person in their particular franchise system or territory. How well they did compared to the guys from a no name brand is anyone's guess. Unless you are defining success differently (e.g. the car they drive, the home they own, the clothes they wear). Now, perceived financial status does not necessarily mean the agent is a top producer. A realtor could have made his money in another sector. I am a new agent but already drive what can be considered luxury cars from income we earn from our full time occupations but people who don't know me can easily assume this realtor is raking it in - yet its just a part time hustle.
Edmonton area Realtor
Newbie
Sep 5, 2018
26 posts
37 upvotes
wJUvA7ZjUFZ20WkwWGhxy wrote: Studying for 3A/3B Transactions/Residental Transactions now. I read previously that people don't recommend using Passit for 3A/3B. Why is that? I used Passit for 1 and 2 and found them very helpful.
Not sure the reason it would be considered not helpful. For me, 3A/3B was the most difficult by far of all the courses, and Passit helped immensely.
Sr. Member
Sep 16, 2010
996 posts
401 upvotes
Toronto
wJUvA7ZjUFZ20WkwWGhxy wrote: Studying for 3A/3B Transactions/Residental Transactions now. I read previously that people don't recommend using Passit for 3A/3B. Why is that? I used Passit for 1 and 2 and found them very helpful.
I agree with Chopkins. 3A/3B was the toughest for me and I found PassIT was really useful for them. Good luck.
Sr. Member
Jul 10, 2018
567 posts
588 upvotes
So I've registered with TREB, have completed their 2 hour introduction reading/test, and now have to attend TREB orientation for two days, 2.5 hours each day. After that I do a month of training at the brokerage. Incredible how many people become realtors by doing all this bs. and then make no money haha.
Deal Expert
User avatar
Aug 2, 2010
15196 posts
5016 upvotes
Here 'n There
OP here. Use Passit for all the courses. I did and it was well worth it. It's not like it's going to make a huge dent in your wallet.
Deal Fanatic
User avatar
Dec 11, 2005
9870 posts
1914 upvotes
TO
OP eonibm, props to you for putting this info together, spending time editing and making it more informative with tips/tricks.

I regret not registering b/f the April deadline to finish but am now stuck with new and thinking if it;s worth it if all i want is to buy a new town/condo (for investment). I'm told that at every builder showroom it's mostly brokerages who act as their agents and if someone can bring their own agent and buy from builder (not sure of commission of new builds etc.)
"You can't soar with the eagles if you're hanging with the turkeys - Gary Kent
Newbie
Dec 16, 2007
40 posts
53 upvotes
Toronto
TorontoEh wrote: OP eonibm, props to you for putting this info together, spending time editing and making it more informative with tips/tricks.

I regret not registering b/f the April deadline to finish but am now stuck with new and thinking if it;s worth it if all i want is to buy a new town/condo (for investment). I'm told that at every builder showroom it's mostly brokerages who act as their agents and if someone can bring their own agent and buy from builder (not sure of commission of new builds etc.)
The pre construction commission is usually between 2.5 to 4.
Deal Fanatic
User avatar
Dec 11, 2005
9870 posts
1914 upvotes
TO
cooldew007 wrote: The pre construction commission is usually between 2.5 to 4.
Thankscooldew007, if I were to buy a property myself, I'll probably have to deduct franchise fee who I'm associated with or can I transact one without being attached to a realty firm?
"You can't soar with the eagles if you're hanging with the turkeys - Gary Kent

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