10 Concepts You MUST KNOW to Pass the Real Estate Exam!

Before you pass your real estate exam, there are a number of real estate terms you should know! PrepAgent has compiled the top 10 real estate vocabulary that you must know before you take the real estate test.

Study these 10 real estate concepts explained in simple terms! It's the best way to pass your real estate exam.

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Join Joe as he covers the following key concepts:
Real vs Personal Property
- Real Property – Immovable
- Personal Property – Movable
Estates in Property
Freehold vs Less That Freehold
Less Than Freehold
Estate for Years
Periodic Tenancy
Estate at Will
Estate at Sufferance
Less Than Freehold
Estate for Years
Periodic Tenancy
Estate at Will
Estate at Sufferance
Government Powers
PETE
Police Power
Eminent Domain
Taxation
Escheat
Types of Ownership
Concurrent Estates- Ownership With Others
Severalty – Sole Ownership
Concurrent Estates
Joint Tenancy
Tenancy in Common

#RealEstateConcepts #RealEstateVocabulary #RealEstateTerms

0:00 Introduction
0:25 Top 10 most important concepts to know to pass your real estate exam
0:38 Real property - immovable personal property - movable
2:53 Freehold Fee simple absolute Fee simple defeasible Life estate
3:42 PETE Police power Eminent domain Taxation Escheat
5:25 Concurrent estates Joint Tenancy Tenancy in common
5:37 Joint Tenancy Time Title Interest Possession Right of survivorship
6:33 STUD Scarcity Transferability Utility Demand
8:13 Market Data approach Cost Replacement Approach Capitalization income approach
9:39 Title Ownership
10:59 1968 Steering Blockbusting Panic Peddling Panic Selling Redlining

[KellyKiela]

I passed my test yesterday in Virginia 4/24/2024 and I watched this video over and over the day before and the entire morning before I took the test. Mind you, I have been watching you and all your videos taking notes and enjoying your humor 😊. However this video right HERE !!!, is extremely valuable. This and remembering definitions are more important than anything to pass the real estate test. Thank you so much for your encouragement and your videos. They are golden. Many blessings to everyone trying to pass. It will happen if you want it enough. Study definitions and remember these principles that he is giving.💛💛💛

[barttfisher]

I remember in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet.

[krishnassankirtan]

I passed with my second time 02/15/2024! State of California! 🥳🥳🥳🥳🥳
Thank you so much for all your wonderful

[giannaberardi]

i just learned more in 13 minutes than i did in the 40 hours i took in class ..

[susannnico]

Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!

[christopherezequiel]

They say third times a charm, am officially a real estate broker 🎉🎉 for all my repeat test takers don't give up and don't be discouraged.

[AaronPriceLV]

I’ve been binge watching ALL of your videos for the past week and I’ve officially passed my real estate national test on the first try. Thank you so so much Joe! Now time to study harder for the state portion

[globiir]

So happy to announce that I just took the test and passed today after my second try! The 1st time I missed it by 1 question. Joe, I focused all week on your videos and they were so incredibly helpful! My biggest advice is to NOT memorize but truly enjoy the process of learning. If you find that you are trying to memorize, STOP and go back and soak in the info.. ;) Thanks so much!

[zacharysbrennan]

Passed my CA exam 4/9/2021
Less than freehold/ freehold was on my test a lot; eminent domain, escheat, zoning was on my test; concurrent estates was on my test; one question on essentials of value on my test; a couple questions of depreciation on my test; a lot of appraisal questions; lots of deed questions on my test; couple questions on liens (priority); a lot of fair housing questions on my test (redlining/steering)

I agree with Joe, as well as, him saying keeping studying. The exam is not joke. Take 6-8 to prepare, take tons of flash cards (600 cards minimum). Take 4-6 legitimate practice exams and make flash cards from the missed questions. Listing to Prep Agent while and driving in the car or any free time. Minimum study 2 hours a day for 6-8 weeks. And do all the easy questions first then go back and do the long harder questions for your state exam.

[msyemisi]

I had to come back to thank you i passed my NJ exam 8-25. This one video review taught me more than my 75 hour class. I will be getting my fingerprints Tuesday and 3 interviews lined up. THANK YOU YOU ARE AWESOME💜💜💜

[luisdavila]

Im taking my final tomorrow and I’m scared, I’m from Guatemala I just moved to the US 3 years ago, I’m still learning a lot of English but I hope I still pass my test. I really did learn more from you. wish me luck😔💡

[gda]

I promise you guys Prep Agent is THE reason I passed my Texas Real estate exam. Just buy the course and and take the Vocal, national, and state practice exams OVER AND OVER again until you are getting at least 85%-90% easily. The national exam is LITERALLY just like the Prep agent practice test. I promise just doing the practice test alone will help. And I only did this for a week leading up to your test. Don't overstudy just take practice test. I Literally became an agent in 2 months total. From start to finish. I finished RealEstate express Texas 180 hours in about a month and had to schedule my exam far out because it was only available certain days so I could have gotten it sooner. I am now licensed and sponsored and already have deals Im going to start closing on. You can do this! Listen to Joe and pass. Buy the pep agent course!!!!

[samkay]

I just finally passed my I passed the national portion on my second try and I'm positive it's because of your videos. The NC portion took me FIVE TRIES. I am so happy it's over. Thank you for everything you do!!

[RayFreexMovies]

Just passed my exam using prepagent!!! Great material my man!

[DariusBaileyATL]

So, I’m sitting here studying as a licensed GA BROKER. I used this guy for my agent license a few years ago. I have to take it again for my instructor license. This guy still rocks!!

[kendraanderson]

Wow this video was literally so short sweet and impactful! Joint tenancy/tenants and common and cost/income/capitalization approach always trip me up! You made it so easy. Thank you so much!

[laslocurasdeloriginal]

This was the last video I watched before taking the test yesterday. Let me tell you, I passed on the first try!!!! Thank you 🙏

[devangmistry]

I failed in my first attempt and passed today on my second. If I had joined prepagent before taking my first attempt at the exam, I bet I would have passed it. Joe you are a superhuman, the way you make these concepts simpler, to say thank you would be an understatement. I am very thankful to you and for all of your videos, I wouldn’t have passed if I hadn’t joined prepagent. To someone who’s thinking of joining prepagent and is reading this comment, please do so before you take the exam, you won’t regret it. Can’t wait to get started in the real estate world. Yay!

[sweetnovember]

I passed first try!! Thank you so much for all the efforts!! I’ve learned a lot from your videos! 🙏🥂🎉🐶

[GenHomeTeamTXRealty]

6 years ago I passed my state and national exam here in Texas on the first try and I watched all the videos. Here I am now watching again as I study for my Brokers license:)