HUMBER REAL ESTATE ACTUAL
ASSESSMENT QANDA STUDY SHEET WITH
COMPLETE RESPONSE KEY
●● Buyer's Market
Answer: Housing supply exceeds demand; buyer have negotiating
advantage; pries typically fall
●● Balanced Market
Answer: supply and demand are roughly equal; prices are stable
●● What are the 6 career choices
Answer: residential resale, new home, sales, condos, rural/rec/agri,
commercial, leasing/renting
●● Difference b/w Residential vs. Commercial Career
Answer: While residential is a popular choice, disruptions to personal
life are a big consideration. Commercial is typically limited to normal
business days but, knowledge/skill level demands are higher
●● Listing
Answer: a listing is an agreement with the brokerage, not with the
employed broker or salesperson. Duties in the listing agreement (also
,knows as the seller representation agreement) are carried out by
employed brokers and salespersons.
●● Can remuneration be a percentage or a flat fee
Answer: no, remuneration can be a percentage of a sale price and/or a
flat fee
●● remuneration sharing arrangements will always be the same for
every salesperson at varies brokerages
Answer: false, remuneration sharing arrangements w/ salespersons
various by brokerage
●● the remuneration split to the salesperson is commonly referred to as
what
Answer: the commission split
●● what are the three steps to calculating remuneration?
Answer: distribution, allocation, split
●● step one of remuneration calculation split distribution is
Answer: remuneration sharing between brokerages
●● step two of remuneration calculation split allocation is
, Answer: brokerages divide commission between listing and selling
portions (typically 50/50)
●● step three of remuneration calculation split the spilt is
Answer: amount of listing and/or selling portion paid to salesperson(s),
e.g. 80/20
●● seller (vendor)
Answer: offer the property for sale, selling is referred to as divestiture
●● buyer (purchaser)
Answer: acquires the property, and buying is also referred to as
acquisition
●● Landlord
Answer: Lessor or Landlord leases the property TO the tenant
●● Tenant
Answer: Lessee or Tenant leases the property FROM the landlord
●● Client
ASSESSMENT QANDA STUDY SHEET WITH
COMPLETE RESPONSE KEY
●● Buyer's Market
Answer: Housing supply exceeds demand; buyer have negotiating
advantage; pries typically fall
●● Balanced Market
Answer: supply and demand are roughly equal; prices are stable
●● What are the 6 career choices
Answer: residential resale, new home, sales, condos, rural/rec/agri,
commercial, leasing/renting
●● Difference b/w Residential vs. Commercial Career
Answer: While residential is a popular choice, disruptions to personal
life are a big consideration. Commercial is typically limited to normal
business days but, knowledge/skill level demands are higher
●● Listing
Answer: a listing is an agreement with the brokerage, not with the
employed broker or salesperson. Duties in the listing agreement (also
,knows as the seller representation agreement) are carried out by
employed brokers and salespersons.
●● Can remuneration be a percentage or a flat fee
Answer: no, remuneration can be a percentage of a sale price and/or a
flat fee
●● remuneration sharing arrangements will always be the same for
every salesperson at varies brokerages
Answer: false, remuneration sharing arrangements w/ salespersons
various by brokerage
●● the remuneration split to the salesperson is commonly referred to as
what
Answer: the commission split
●● what are the three steps to calculating remuneration?
Answer: distribution, allocation, split
●● step one of remuneration calculation split distribution is
Answer: remuneration sharing between brokerages
●● step two of remuneration calculation split allocation is
, Answer: brokerages divide commission between listing and selling
portions (typically 50/50)
●● step three of remuneration calculation split the spilt is
Answer: amount of listing and/or selling portion paid to salesperson(s),
e.g. 80/20
●● seller (vendor)
Answer: offer the property for sale, selling is referred to as divestiture
●● buyer (purchaser)
Answer: acquires the property, and buying is also referred to as
acquisition
●● Landlord
Answer: Lessor or Landlord leases the property TO the tenant
●● Tenant
Answer: Lessee or Tenant leases the property FROM the landlord
●● Client
