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NAR Settlement for Utah Agents Summary

Here is a 10 minute summary of the NAR lawsuit and the new procedures that Agents need to do to hopefully kind of condense it down for a real quick, “here's what it means and here's what you do.” Here's the old way that we used to do commission sharing with Brokerages is we used to have the Seller's Broker and the Buyer's Broker agree that if they were members of the Multiple Listing Service that the Seller's Brokerage would offer a Buyer Agent commission to the Buyer's Brokerage and then any property that they sold through the [...]

NAR Settlement for Utah Agents Summary2024-08-14T18:34:12-06:00

Questions on Starting a Career as a Real Estate Agent?

Just got off the phone with someone who is considering a career in real estate. Is Real Estate Like Starting a Business? Their first question to me was about whether a real estate agent is like starting a business. The answer is Yes! Legally, real estate agents need to have a license from the state, and they need to affiliate with a Real Estate Broker and Brokerage in order to practice real estate. But most agents are independent contractors. That means they set their own hours, they prospect for their own clients, in all, a real estate agent gets [...]

Questions on Starting a Career as a Real Estate Agent?2024-05-08T18:22:59-06:00

Tips on How to Study for the Real Estate License Exam

The Utah Real Estate Sales Agent License Exam is hard.  It’s easy.  It’s tricky.  It’s straight forward. I’ve heard the exam described all of these ways and more.  The best preparation is, of course, to take a high quality course.  I would also suggest that you complete the course in a relatively short period of time.  Most students complete the pre-license course in 2-3 months, which is excellent, because all the information from the early classes is still fairly fresh in your mind. But once you’ve completed the course, and you are preparing to take the state exam, here [...]

Tips on How to Study for the Real Estate License Exam2024-04-10T17:55:33-06:00

What are the requirements to get a real estate license in Utah?

What does it take to become a real estate agent? Real estate is an exciting career opportunity, where you can work your own hours, see direct rewards for your work, and find satisfaction working with people to find homes that will serve them for years. In order to get your real estate license, you need to complete these requirements: Be an upstanding citizen Have a high school or equivalent education Complete the 120 hour Sales Agent Pre-License course Pass the License exam The Division will *likely not license anyone that has any felony in the last 5 years, or [...]

What are the requirements to get a real estate license in Utah?2024-04-10T16:51:07-06:00

How to Choose an Online Course?

You know you want to become an agent.  You know the advantages of online classes.  But how do you choose what online course to take?  What features should you look for in the course, and what should you look for from the school itself? There are many options for Online Real Estate Pre-License Courses There are a wide variety of courses available, from straight text and timer courses, to full video.  You want to make sure the information is presented in a way that is engaging, and understandable.  Text only courses, especially because of state time requirements, can be [...]

How to Choose an Online Course?2024-04-02T14:06:01-06:00

What to ask in addition to the pass rate?

Ask the right questions. A question we often hear from candidates for the sales agent pre-license course, is “What is your Pass Rate?” and even though our students perform 10 percent higher than the state on average, there are more important questions that candidates should be asking. Instead of asking about Pass Rates, a more valuable question is “What is your school going to do to help me succeed?”  And then get specific answers to how the classes are taught, what study materials are included with the class? Textbooks? PDF or Printed, or both? Reviews?  Audiobooks? Practice exams?  How [...]

What to ask in addition to the pass rate?2024-04-10T15:10:05-06:00

Seller Financing in a Changing Market

The real estate market looks very different from even 6 months ago, as market forces have been changing. What is different? Demand Remains High The number of buyers and sellers has not changed significantly. We still have a large number of buyers, either first time home buyers, relocations for jobs or lifestyle, retirement downsizing, and everything in between. The number of properties available still is much smaller than the number of people looking to get into a home. Interest Rates Have Risen Interest rates have risen significantly over the last 6 months. Where a year or two ago, we had [...]

Seller Financing in a Changing Market2024-04-10T15:14:25-06:00

5 Document Management Tips for New Real Estate Agents

If you’re a brand new real estate agent who is preparing to take on your very first clients, you’re probably simultaneously excited and nervous about the journey ahead of you. The Institute of Real Estate Education can help you deepen your industry knowledge so that you can better serve your clients. Soon enough, you’ll be balancing multiple clients at a time - which means you’ll be handling lots of crucial documents relating to different transactions. Here’s how to effectively manage documents pertaining to numerous clients and properties, including understanding your clients’ must-have files, establishing a physical filing system, and choosing [...]

5 Document Management Tips for New Real Estate Agents2024-04-10T15:12:51-06:00

Is Cloud-Based Security Safe for Apartment Complexes?

Keeping apartment complexes safe has always presented unique challenges. However, recent advancements in cloud-based security systems and the integration of AI, have changed the game. But do these advances work and is cloud-based security safe for apartment complexes? Let’s take a deep dive into cloud-based security systems for apartment complexes. What Is Cloud-Based Security? In one way this is an easy question to answer – A cloud-based security system refers to a security solution that utilizes cloud computing technology to store, manage, and access security-related data and services remotely. However, as with all forms of security systems, many different elements [...]

Is Cloud-Based Security Safe for Apartment Complexes?2024-04-10T15:13:29-06:00

Death of a Broker Proposed Rules

The Utah Real Estate Commission is at it again, updating the rules to help agents and brokers better protect their clients. In this case, they are addressing the topic of how to handle when a broker dies unexpectedly, or becomes incapacitated. Check out proposed rule R162-2f-202e. Prior to this new rule, there have been no laws providing a way for a brokerage that is a sole-proprietor, or single owner company to continue business if it were to lose its broker and owner. We had several instances in a short period of time where smaller brokerages found themselves in this very [...]

Death of a Broker Proposed Rules2023-07-05T18:07:07-06:00