Your ultimate guide to acing the PSI real estate exam and launching a successful career in the real estate industry! Led by the seasoned real estate professional and team leader of Keller Williams Avenues Realty, Charles Coleman.
Charles founded Best Real Estate Career with a mission to simplify the complex concepts and topics covered in the PSI real estate exam, helping students better understand the material and increase their chances of passing the exam on the first try. With years of experience as a successful real estate agent, Charles brings a wealth of knowledge and expertise to the channel, for anyone looking to launch a career in real estate.
Charles also knows how overwhelming it can be to choose the right real estate brokerage, especially for new agents. That's why Best Real Estate Career puts a spotlight on some of the most critical factors to consider when selecting a brokerage.
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I still don't understand the answer of this question at 33:31 "Colorado-approved contracts contain a clause that states the parties agreed mediate if they have a dispute. All of the following are true of the clause Except?" why it's not "C: It is not a negotiable choice" cause the question says 'all true except' and mediate it is a negotiable choice, right?
Great content and explanations. Became an Illinois agent last week😊
Thank you Kelly! Congrats on passing the exam!
I came across your videos and honestly you explained everything very well. Im taking my test July 20th and Im going to pass. I wish everyone else luck on their exam as well!
Awesome to hear Kyla! Crush your test on the 20th!
2 more days Kyla! You got this
@@bestrealestatecareer update: I PASSEDDD
Thank you, good job with this
Thank you for the feedback!
According to the practice exam, the correct answer is $288 for the second question. 😢
1140 / 360 = 3.17/day 3.17x 91 (add the day because the Buyer owns closings) 1140-288.5 = Debit Buyer $851.50 The 288.50 isn't touched because it was paid in advance getting the remainder of what they didn't benefit from. Great Question!
Keep them coming, thanks for the help!
Will do Donald! Thanks for watching!
I’ve went down all the way until June 2023 and watched all your quick videos and took notes , they are sooo informative. I take my test this week, your videos are great!!
I'm glad to hear the videos were so helpful! Good luck on your exam!
I love your videos soooo much!! You explain everything so good!
Thank you for the feedback, I appreciate it!
I had a question on the exam that stuck with me. If a house is having electrical issues, it said something like, lower voltage than required, what kind of propert value is that. Its one kind of obsolences. I had no idea with one. I chose Functional
Yes, low voltage in my eyes would be like speaker wiring or internet. So yes I think functional was the correct choice Lisa!
I used Colorado Real Estate School and the questions from this video look a lot more like what I saw on the actual state portion. Is there an app that you recommend that has similar questions?
Hey Ed, I'm the co-owner of Denver Real Estate School. I have just taken the test enough times & this point that I understand what you will be facing. How is the schooling going?
@@bestrealestatecareer Thanks. I'm just waiting to take the state test again! I passed the national portion.
@@edthom0834 Awesome to hear about the National! Feeling good about the state side>?
Quick question: Can a seller tell his or her agent they want cash offer only. I saw this on my exam
Absolutely, that's part of our fiduciary responsibilities to our clients. If they say "CASH" or "Conventional" or even "Crypto" we are to seek the price & terms they set forth in our Agency Contracts w/ them.
I saw something very similar, but it stated what offers do we share.. is it all offers? Or just the cash that they asked for?
@@abbycolon4016agent must present all offers is what I read even though client wants cash offer.
Excellent Training
Thanks Man! Looking forward to your class with our Brokerage on June 5th!
Hi Charles!! I’m taking my National and state tomorrow for the third time, wish me luck. Thanks for the videos. I have a question, I remember a question on the exam I took last time (I don’t know how exactly it was worded) basically where would a property manager deposit security deposits do you know the answer to this ?
Nicole, you got this! All Money Belonging to Others Must be Deposited into a Trust or Escrow Account when held by a licensed property manager.
@@bestrealestatecareer thanks for replying!! Appreciate it! And thanks for the encouragement!
@@NicoleWells-hx4gu You are welcome. How did it go?
Thank you for this!! I have my 3rd try for National coming up this week!! Keep missing it by 1 question 😂😭 it’s infuriating
Hey you got this! 1 question away from a new career!
Makes two of us! Taking it for the fourth time tomorrow, I’ve missed all 3 by 1-2 questions. Good Luck!!!
Didn't explain why $470,000 is the part
The part is $470,000 because that was take home after commissions were paid. So you add the commissions & the "net" together & you get the "gross" the total.
There is some problem in your channel that's why the view is not getting. If you want to increase the view, tell me, I can do it for you
Thanks for the offer Damo.
I have a question about if the client should test for radon. If the client asks to test for radon are you required as the agent to test for it ?
I would need more than Matt. If the Buyer wants a Radon test, then the Buyer should get a Radon test. If the Buyer is telling you the Agent to go have the test, no that is not your responsibility unless you are POA.
I passed my exam 🎉 thanks to all your videos.
Well done, I'm glad the videos helped!
In your first question you made it sound like an exclusive agreement is the same as an open agreement
Great Question In an Exclusive agency buyer agency agreement the agreement makes the broker the exclusive agent of the buyer, but it requires the broker to be paid only if the broker finds the property that the buyer ultimately purchases. In an open agency the buyer pays only the broker who finds the property that the buyer buys. The buyer owes the broker nothing, if the buyer finds and purchases a property without help from the broker. So as far as commission goes they are similar in that sense. If the buyer finds their own property with either of those agreements in place the Buyers Agent does not get paid.
Keep up the good work!
Thanks, will do!
Keep up the good work!
Thank you Donald!
Wanted to come back and say I passed both exams!! love your videos they were very helpful thank you 🙏🏻
Great job, Jorge! I’m glad they helped! What’s next in the real estate journey?
Hey does this apply to Indiana too which is complicated state
Hello! Yes, this is national content these are not state specific questions & answers.
Praying 4th times the charm taking my test tomorrow. I was 14 questions off on national and 4 off state 🙏
Did you pass ?
Hey Emily, you got this. Remember this test does not define the type of agent you will be once you pass!
@@JohnDeere-pl4np a did not but I am retaking the exam again today!
@@emilyf8449 did you pass ?
@@emilyf8449 have you try reaching out to Mr James for a help ?
Thanks for the helpful questions!
You are welcome!
Hello! Does this help for OHIO?
It is not state specific, this is National content. So yes!
Wow !! I watched a lot of videos to help me study and this was the video that really helped me pass !!!! Thank you
Awesome to hear. I'm glad they have been helpful!
Just passed my CO exam , thanks for the videos
Awesome to hear! Congrats on the Pass!
This is where I’m struggling on exams
Totally get it, the contracts section is the largest on the exam! Keep pushing, you got this!
Helpful content, thanks!
Glad it was helpful!
Fire content , Keep it up 🙋♂ Out of curiosity, is there any chance to collaborate with you as video editors to build up your personal brand?
At some point, I might be interested! Thank you!
Just finished this course. So nervous about taking the PSI especially with time constraints.
You got this, it's only a test. After the test is when the fun starts!
Taking the test for my third time tomorrow. Hit a 71% on both the National and state on my last run. Thank you for the videos
You are welcome, you got this! Keep pushing!
These are awesome I’m using the Keller Williams Kaplan pre licensing, looking forward to passing. These are so helpful!
Glad you like them! You got this!
Welcome 🤗
Thank you! 😃
Hey Sir, I can see some issues with your channel, which has some solutions regarding my services, but you are free to decide. Let's connect for free resources.
Thanks
@@bestrealestatecareer Can I give you any advice on how to grow your channel?
Thanks for this content again. I am about to take my State Brokerage exam again for the umpteenth time. I usually am about 5-6 points away from passing. UGH. I am rested. I have studied. I will have time to read each question two or three times. It is the EXCEPT and NOT questions that trip me up. Contracts and forms and misc. according to the feedback is what I am weak on. Wish me well. I am ready to start my real estate career.
I failed with the best score yet. I am four points away from passing. YAY. Scheduled a retake for the first of March. I will keep you all posted. Ugh. The 100th time is a charm right?
You got this Major! 4 points you are so close! The double negative questions on the State Exam are something else. Keep hitting the contracts & agency for your review!
Thanks so much. Already Rescheduled for the first of March. @@bestrealestatecareer
Great video - will be taken my test in 1 week
Awesome to heat Vanessa! You got this!
This was very helpful!!!!!
I'm glad it helped!
What is next if my one year expired and i didn't pass the exam?
You will need to reach out to your state licensing board for clarity. 1 year is typically the cut off from REC-33 to getting your license.
Yeah I get 5/5
NIce! Keep up the great work.
I thought the answer was D on the last question..?
You are absolutely correct a chair & sofa are 100% personal property. A built-in bookcase is a fixture, good catch!
Hi! Charles thank you so much for all this great content, I live in Chicago. Last week after i fail the exam for the second time with the score of 68/70 😢 I found your videos and let me tell you, the content that your are bringing is 99% like what I saw in the exam, I already watched all your videos and I know I’m going to pass this exam this time, please keep bringing more videos especially on contracts and building management. Please let me know if you have a webinar that I can get in! Thanks again Charles
You are getting so close! I'm glad the content is helping you with your studies! I don't currently at this time have a Chicago webinar. There is a national test review on the page though that touches the 20,000 ft view of national contracts.
This message is very helpful for new comer like me @edwinruano4382 and thank you the video Charles
Yes
Yes!
More please and longer videos ❤
I will see what I can do, Thank you for watching!
Thank you
You're welcome
Taking my state portion today for the 4th time too!!! wish me luck. Thanks for the video helps a lot!!!
How did it go Jorge?
i missed 2 questions from passing getting close!!! taking it again this friday!!@@bestrealestatecareer
no i was really close!!! @patrickvictory6534
Thank you so much for making the real estate digestible🎉🥳 quiet enjoy the way you teach
You are welcome! Thank you for the feedback!
She was not wrong. The course I am taking also says you ow accounting to customers. It just means you have to make sure the escrow money gets put where it goes. Also, the acronym here does not even line up. The instructor has COALD but then under it has confidentiality, CARE, loyalty, accountability, and disclosure. So would that not be CCLAD or CCALD and not COALD? COALD would be either confidentiality, OBEDIENCE, accountability (or accounting), loyalty, and disclosure. If you are going to use COALD then it should say obedience not care. I like the OLDCAR acronym better or even the AC COLD. Both are easy to remember and include both reasonable skill and share and obedience. But, yeah, the point I was trying to make is that the lady who asked was not wrong. Accounting is also owed to the customer because it means you have to make sure you handle all money given to you properly. My course also included documents in that. You owe both clients and customers accountability that all money and documents get handled properly and in a timely manner.
Appreciate the feedback. Next time I am doing the acronyms I will make sure to put it in the order of the letters. Thank you. Cold Ac is the direction we should of been moving in. Absolutely, if you are the Sellers Agent & collecting earnest money you have a responsibility to the customer (the Buyer) to account for the money.
Very helpful! Thanks!!
You are welcome!