Episodes

  • Real Estate Exam [Texas] 18, Seller's Disclosure Exemptions

    Real Estate Exam [Texas] 18, Seller's Disclosure Exemptions
    May 3 2026
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The seven major categories of transactions exempt from the Seller's Disclosure Notice in Texas. - The critical distinction between a property sold 'as-is' and a seller who is legally exempt from disclosure. - That an agent's duty to disclose known material facts persists even when the seller is exempt. - How sales of new, unoccupied homes by a builder represent a key exemption tested on the exam. - A simple mnemonic, 'Courts, Kin, and Construction,' to recall the most common exemption scenarios. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
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    3 mins
  • Real Estate Exam [Texas] 17, Seller's Disclosure Notice

    Real Estate Exam [Texas] 17, Seller's Disclosure Notice
    May 2 2026
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - When the Texas Seller's Disclosure Notice is required for 1-4 unit residential properties and the key exceptions tested on the exam, such as new homes and foreclosures. - That sellers must disclose all known material defects, even if a defect has been previously repaired, and that an 'as is' clause does not eliminate this duty. - The buyer's seven-day unconditional right to terminate the contract after receiving the disclosure notice, if it was delivered after the contract's effective date. - That if the seller never provides the disclosure, the buyer retains the right to terminate the contract at any point before the closing. - Common exam traps, including the relationship between the 'as is' clause and the non-waivable duty to disclose known property conditions. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
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    3 mins
  • Real Estate Exam [Texas] 16, Buyer Representation Agreements

    Real Estate Exam [Texas] 16, Buyer Representation Agreements
    May 1 2026
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The key difference between an exclusive and non-exclusive buyer representation agreement and how it impacts commission. - The essential elements required for a buyer representation agreement to be valid and enforceable in Texas. - How broker compensation is structured within the agreement, including who pays and what happens when commissions differ. - The rules surrounding the termination of an agreement and the buyer's potential liability. - How the protection period (safety clause) works, and the critical step an agent must take to enforce it. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
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    4 mins
  • Real Estate Exam [Texas] 15, Types of Listing Agreements

    Real Estate Exam [Texas] 15, Types of Listing Agreements
    Apr 30 2026
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - With an Exclusive Right to Sell listing, the broker earns a commission regardless of who finds the buyer. - An Exclusive Agency listing allows the seller to find their own buyer without having to pay a commission. - An Open Listing is a non-exclusive agreement where only the broker who is the procuring cause of the sale earns the commission. - Net listings are a major exam trap in Texas because they create a conflict of interest and are functionally prohibited. - The key distinction tested on the exam is whether the broker gets paid if the owner finds the buyer themselves. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
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    3 mins
  • Real Estate Exam [Texas] 14, Intermediary With Appointments

    Real Estate Exam [Texas] 14, Intermediary With Appointments
    Apr 29 2026
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - An intermediary broker with appointments must remain neutral and cannot provide advice to the buyer or seller. - Appointed agents are permitted to provide advice and opinions to the party they are appointed to represent. - Acting as an intermediary requires written consent from both parties, followed by written notice of the appointments. - Confidential information given to an appointed agent is protected and must not be disclosed to the other party or the intermediary broker. - A key exam trap is confusing the neutral role of the broker with the advisory capacity of the appointed agents. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
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    3 mins
  • Real Estate Exam [Texas] 13, Intermediary Relationship Basics

    Real Estate Exam [Texas] 13, Intermediary Relationship Basics
    Apr 28 2026
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Intermediary is the Texas-specific alternative to dual agency, applying when one brokerage represents both buyer and seller. - Acting as an intermediary is only legal with explicit written consent from both parties, typically found in representation agreements. - An intermediary broker must remain neutral, facilitating the transaction without providing advice or opinions to either side. - Confidential information, such as negotiating positions, cannot be disclosed by the intermediary without written permission. - A broker may appoint different agents to the buyer and seller, which allows those appointed agents to provide advice to their respective clients. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
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    3 mins
  • Real Estate Exam [Texas] 12, Information About Brokerage Services IABS

    Real Estate Exam [Texas] 12, Information About Brokerage Services IABS
    Apr 27 2026
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - When you must provide the IABS form (at the first substantive dialogue, not first contact). - The definition of a "substantive dialogue" with a practical open house example. - The key exemptions from the IABS requirement, including leases under one year and open houses. - Common exam traps, such as placing a link in an email signature versus the email body. - The crucial distinction that the IABS is a disclosure notice, not a contract that creates agency. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
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    3 mins
  • Real Estate Exam [Texas] 11, Seller's Agent vs Buyer's Agent

    Real Estate Exam [Texas] 11, Seller's Agent vs Buyer's Agent
    Apr 26 2026
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - In Texas, a single agency relationship means an agent owes fiduciary duties, remembered by the acronym OLDCAR, exclusively to their client (either the seller or the buyer). - The duties owed to a customer (the other party) are limited to honesty, fairness, and the disclosure of all known material facts about the property. - Subagency is not the default relationship in Texas; an agent working with a buyer is expected to represent the buyer, which must be formalized in writing. - Agency relationships are created by express written agreements, and a written agreement is required in Texas before a residential buyer can be shown property. - A common exam trap is confusing the duty of confidentiality to a client (e.g., their financial motivation) with the mandatory duty to disclose material property defects to a customer. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
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    3 mins