A-Ha! Real Estate Exam Prep Podcast Brian C. Lee
-
- Education
-
The A-Ha! Real Estate Education Podcast is all about helping real estate students get tips, strategies, and secrets they'll need to know to pass their real estate class and state exam.
By interviewing guests, discussing test questions, and going through specific real estate topics, each listener will walk away with a better understanding of what's needed to pass that pesky real estate class and state exam! Listeners might even get a little motivation to navigate the sometimes-discouraging experience of real estate education.
Brian Lee--acclaimed real estate instructor, broker, and appraiser--leads the A-Ha! Podcast. Brian earned his bachelor’s degree in Finance and Real Estate from the greatest college on earth, Indiana University. He regularly uses his 28 years of experience in various areas real estate to raise the level of education for agents.
Brian’s knowledge and experience takes him across the globe to train on real estate topics, including appraisal, agency, brokerage, business operations, taxation, contracts, investing, and the dreaded "real estate math".
When Brian isn’t busy behind a microphone or in front of an audience, he keeps his wife and children happy with culinary skills and bad dad jokes.
-
Real Estate Exam Questions: Fee Simple and Life Estates
Episode 100 - Real Estate Exam Questions: Fee Simple and Life Estates
Going through state exam questions to help real estate students pass their state exam.
01:20 – We hit episode number 100!!!
02:35 – Be careful where you get your information for your exam questions. Not all are the same. Watch for state specific topics versus the general/national portion of the exam.
06:20 – Example: the value of a point in relation to the interest rate reduction.
08:10 – List of recent grads: Sara, Jamila, Sharon, Breanna, Tim, Kap, Jaquie, Natalie, Shana, Austin, Sheila, Simon, Grant, Marlainna, Maya, Kennedy, Deborah, Sydney, Bridgette, Michael, John, April, Janeva, Martina, Elishia, Jessica, Naomi, Christina, Matthew, Maria, Sophia, Loren, Brandi, Eric, Dominique, Odonel, Jordan, Mark, Dana, Andres, James, Kiana, Anitra, Dayanna, Nathanial, Tatiyon, and David.
09:15 – Messages from Sara and Tatiyon. Common theme: breathe and listen to all the A-Ha episodes.
14:30 – Episode Focus: fee simple, fee simple absolute, fee simple defeasible, and life estates.
16:10 – Freehold and Non-Freehold estates.
19:00 – Fee simple and fee simple absolute.
21:40 – Fee simple defeasible: a qualified fee estate that is subject to the occurrence or nonoccurrence of some specified event.
23:30 – Three forms of fee simple defeasible: determinable, subject to condition subsequent, and subject to executory limitation. One main difference: if the condition is not met, who gets the property?
27:30 – Determinable versus subject to condition subsequent; words and phrases distinguish them; how does the property go back to the original grantor; lawsuit required? Possibility of reverter or right of reentry (power of termination.)
30:45 – Fee simple subject to condition subsequent: right of reentry/power of termination; the original grantor must bring a court action to exercise their right to reenter the property.
36:35 – Watch who has the future interest. Is it the original grantor or some third party?
38:10 – Life estate; life tenant; pur autre vie; remainder and reversion/reversionary interest; when is a life estate inheritable or transferable?
40:45 – Pur autre vie examples. What can a life estate holder do? Inheritable.
44:55 – What happens when the defined life is extinguished, who gets the property interest? Reversion/reversionary interest or remainder interest (remainderman).
49:45 – Legal life estate – state law that recognizes dower and curtsey rights, or homestead right.
51:10 – Exam questions
1:06:15 – April’s episode will be about fair housing. Come back for more to help you pass the real estate exam.
Go to www.ahareep.com and sign up for the program for only $35, use discount code: legendary15 to save 15% off.
Go to www.indianarealestateinstitute.com for Indiana real estate classes.
A-Ha LINKS
Email
info@ahareep.com
Web
www.ahareep.com
Facebook
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A -
Real Estate Exam Questions: Leasing
Episode 099 - Real Estate Exam Questions: Leasing
Going through state exam questions to help real estate students pass their state exam.
01:35 – February: I feel your pain. A lot of new and intense information. Law school is just as much “fun”.
05:07 – List of recent grads: Andrew, Grace, Jacob, Tylea, Kayla, Erica, Denzel, Kyle, Anu, Sharika, Brandy, Jesika, Matias, Omayra, Kemberly, Denise, Wallace, Ingrid, Ryan, Jonathan, Kendall, Orchid, Len, Gail, Ashley, Joseph, Monica, Kay, Latoya, Cierra, Britney, Kiana, Stephanie, Asia, Thomas, Shelley, Krystyn, Madeleine, Kynia, Andrew, Kellie, and Sam.
06:55 – Messages from Jonathan and Ryan.
09:45 – Episode Focus: leasing; pay attention to the legal pieces and “forget” what you know about the real world of rental situations.
12:20 – Parties to the lease: lessor (landlord) and lessee (tenant). Bundle of legal rights and what rights do each party have? Leased fee vs. Leasehold. Reversionary rights. Statute of frauds – lease for less than 12 months.
20:00 – Types of leasehold estates: Estate for years, Estate from period to period (Periodic tenancy), and estate at will. Estate at sufferance, holdover tenant at sufferance.
34:10 – Leasing consideration: possession of premises (quiet enjoyment); use of premises; security deposit (possession vs. ownership); Assignment versus Sublease; Nondisturbance clause.
44:00 – Types of leases: gross, net, and percentage leases; variable leases (graduated lease and index lease); ground lease.
51:10 – Breach in a lease: if tenant breaches, landlord remedy is to evict tenant; if landlord breaches, tenant remedy is constructive eviction.
52:25 – Leasing of real estate law exam questions.
1:04:10 – Calculation rental price per square foot: $18/square foot for 2,400 square feet of space: $18 x 2,400 =- $43,200 / 12 = $3,600.
1:07:50 – March’s episode will be about Closing a real estate transaction (also known as close of escrow). I will get into the mechanics of a closing, the federal oversight including RESPA, TRID, and Truth in lending, and finish with an in-depth explanation of proration including debits, credits, accrued and prepaid items, and the math behind the glory of proration.
Go to www.ahareep.com and sign up for the program for only $35, use discount code: legendary15 to save 15% off.
Go to www.indianarealestateinstitute.com for Indiana real estate classes.
A-Ha LINKS
Email
info@ahareep.com
Web
www.ahareep.com
Facebook
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A -
Real Estate Exam Questions: Agency
Episode 098 - Real Estate Exam Questions: Agency
Going through state exam questions to help real estate students pass their state exam.
01:00 – January: Happy New Year! Think outside the box and try to understand other perspectives.
03:55 – List of recent grads: Jessica, April, Janeva, Martina, Elishia, Naomi, Christina, Mathew, Marie, Sophia, Loren, Brandi, Eric, Dominique, Jordan, Mark, David, Isamar, Kyle, Raven, Whitney, Mandy, Albert, Maggie, Janice, Alisia, Anissa, Claudia, Phillip, Elmer, Layton, Maxwell, Dillon, Alayna, Angela, Prabjeet, and Cullen.
05:20 – Message from Jessica.
07:15 – Episode Focus: agency
08:00 – The parties involved in agency: agent, principal (client), and customer.
13:00 – Creating agency: express agency and implied agency; compensation does not affect agency.
19:05 – Fiduciary responsibilities: COLD AC or OLD CAR; care (reasonable care), obedience, loyalty, disclosure, accounting, and confidentiality.
31:10 – Single agency versus dual agency (limited agency); requires informed consent.
35:10 – Designated agency, in house transaction.
37:40 – Customer – don’t help but don’t hurt. Do not provide service or assist them. Be cautious with unintended actions or words.
39:10 – Puffing, fraud, and negligent representation.
44:25 – Contract law exam questions.
1:09:30 – February’s episode will be about leasing of real estate: types of leases, rights of landlord and tenant, eviction, 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.
A-Ha LINKS
Email
info@ahareep.com
Web
www.ahareep.com
Facebook
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A -
Bonus Episode - December 2023
Bonus Episode – December 2023
Thoughts from a law school student about the real estate licensing exam.
00:00 – I missed my 100th episode. Thank you!!! Welcome to the 101st show.
04:35 – For Indiana classes go to www.indianarealestateinstitute.com
06:05 – Just finished my last final exam for the first semester of law school. A few thoughts. Remember why you are doing this. For me, it is my family and kids.
09:40 – What is your attitude? Do not let up on the gas. Keep your head in the game. Do not stop, quit, or slow down! You Got This!!
10:50 – Growth mindset: you might fail. So what!? A test does not define you. Stay positive. The test is a gate, but not an indicator of your intelligence. The test does not define you. Don’t let it beat you down.
13:00 – I’m not telling you this is easy. I am telling you it is worth it!
13:30 – List of recent grads: Sheila, Tylea, Kylie, Kayla, Clay, Randall, Ashley K., Ashley B., Ashley D., Joe, Abby, Brody, Cristian, Kamaljit, Taylor, Shawna, Mary, Adam, Amber, Kimberly, Zach, Ashia, Elijah, Cameron, Jamie, Kyle, Doug, Brock, Jeanne, Garrett, Taytem, Jacob, Tiffany, Kendra, Desmond, Crystal, Connor, Matt, Carl, Tara, Brenda, Kevin, Kayla, Rhett, Rene, Shannon, Hanna, Joan, Jonathan, Samantha, April, Keeley, Sharon, and Nikki.
15:00 – Messages from Steven and Dana.
19:30 – Episode Focus: topics I learned from law school about real estate.
21:10 – Adverse possession; tacking and tolling.
31:20 – Co-ownership: rights of co-owners, and actions such as partition, waste, and cost allocation.
51:40 – Estates: Fee simple, fee simple absolute, fee simple defeasible – determinable, subject to condition subsequent, and subject to executory limitation.
59:40 – Life estate, life estate pur autre vie; what can a life estate holder do? Reversionary interest versus remainder interest.
1:06:30 – Leasing of property: lease, covenant of quiet enjoyment, implied warranty of habitability, and constructive eviction. Assignment and sublease
1:14:55 – Statute of frauds; enforceable versus unenforceable.
1:17:35 – Deeds: recording, actual notice, constructive notice, and recording acts.
1:26:3 – More to come in future episodes: zoning, contracts, easements, eminent domain, private covenants and servitude, and regulatory takings.
1:27:20 – January’s episode will be about agent and fiduciary responsibilities.
Go to www.ahareep.com and sign up for the program for only $35, use discount code: legendary15 to save 15% off.
Go to www.indianarealestateinstitute.com for Indiana real estate classes.
A-Ha LINKS
Email
info@ahareep.com
Web
www.ahareep.com
Facebook
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A -
Real Estate Exam Questions: Contract Law
Episode 097 - Real Estate Exam Questions: Contract Law
Going through state exam questions to help real estate students pass their state exam.
01:10 – December: Happy Holidays!
03:00 – List of recent grads: Christina, Lori, Delphine, Alisha, Patrick, Adelaide, Chefor, Grant, Heather, Anne, Carl, Arianna, Jessica, Shukeh, Amber, Autrey, Joana, Kongyu, Miles, Leticia, Larry, Maddy, Kim, Tony, Dawn, Mason, Miranda, Eleyna, Bill, Rose, Renee, Carol, Johnathon, Nathalie, Morgan, Alylynn, and Katrina.
04:10 – Message from Christina.
07:05 – Episode Focus: contract law
08:15 – Elements of a valid contract: Voluntary, Promise/s, Legal, Competency (Capacity), and Consideration.
14:00 – Express versus Implied contracts; statute of frauds.
20:00 – Bilateral and unilateral contracts.
23:35 – Creation of a contract; mutual assent (meeting of the minds); offer and acceptance; offeror and offeree; accept, reject, and counter; counteroffer is a rejection of prior offer terms; offeror can rescind (rescission) before their offer is accepted.
33:40 – Valid, void, and voidable contract; enforceable and unenforceable.
40:45 – Breach of contract; suit for specific performance.
42:30 – Termination of a contract – Performance and mutual release
45:50 – Contingencies: mortgage, inspection, title, sale of home, find another home, and more.
46:45 – No earnest money is required for a valid contract; equitable title; amendment and addendum.
53:10 – Contract law exam questions.
1:15:00 – January’s episode will be about agency: creating agency, fiduciary responsibilities, dual agency, and other obligations agents have with their clients.
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.
A-Ha LINKS
Email
info@ahareep.com
Web
www.ahareep.com
Facebook
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A -
Real Estate Exam Questions: Listing Contracts
Episode 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.
A-Ha LINKS
Email
info@ahareep.com
Web
www.ahareep.com
Facebook
https://www.facebook.com/AHA.REEP
YouTube
https://www.youtube.com/channel/UCrxAjI5Li4Ll3Epwcyc0i6A
Customer Reviews
Thank you for helping me pass the exam!
Listened to you on repeat as I was preparing for state and national exams and this podcast is a big reason why I passed on the first attempt. Thank you so much for great content!
Awesome Podcast
Brian does a fantastic job of explaining things, using acronyms to help you remember terms, and overall helping you prepare for the national real estate exam. Sounds like his wife is pretty cool too!
Passed on first try!!
I absolutely loved the way you explained each topic. It helped with clearing up confusion in my head. I have recommended this podcast to my fellow classmates. Thank you so much!!