Thanks so much for watching! Here is the link I promised to share, it's an exam prep tool from PSI www.psionlinestore.com/ Make sure you choose the IL examination and read the fine print so you know what you're purchasing. Much success to you
Any videos you recommend to study for the state exam ? Or Materials to use ( Laws and Rules Regulating Real Estate Practice) (Licensing Requirements) Does are the ones I’m having trouble to pass the exam .
Hi, did your real estate school provide a textbook? Is so, there should be a chapter on IL law. If they didn't, their curriculum should have information on the laws. If you haven't already done so, print off the section of the candidate handbook that covers the IL portion of the exam and use that as a study guide. My most recent video covered licensing requirements
You can ask the seller if they wish to renew the listing agreement. If they do, you get it in writing with another expiration date. Are you licensed or preparing for the exam?
@@realestatetutoress Im preparing for my exam. thank you for your video.I had watched all your videos. they help me alot. hopefully, I can pass my next exam.
In their independent contractor's agreement broker, they specifically state that they want to be sponsored as a licensee by their broker but want their commission paid to "Mike Lewis Incorporated". Which of the following is true? a) The licensee can no longer legally act as an independent contractor b) The corporation must be licensed with the department of financial and professional regulation c) The licensee can legally collect their commisions as mike lewis incorporated d) no more than 49% of the corporation stock may be held by the licensee to practice real estate
I understand you stated the rules for getting paid through a business entity, does it have any effect if you are an Independent Contractor? Also, do you have videos covering info on Indep. Contractors. It's all a bit confusing.
The answer is C. As a licensed real estate broker in IL, you can be an independent contractor rather than an employee of your sponsoring broker. As an independent contractor, you can choose to set up a business entity (corporation, LLC, etc) and get compensated through the entity rather than in your name. This concept is not unique to the real estate industry. Someone driving an Uber is an independent contractor. If Uber allows it, they can create a business entity and get paid through the entity rather than in their name. Hope that makes sense.
Take it one step at a time, one chapter at a time. Check out this video on some tips ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-eo9tdIzaOwM.htmlsi=DnD7IaCzjM97SL5D
There's no rule that says that information should be disclosed. I don't disclose my clients to the seller. It also prevents any discrimination or fair housing violation
