Look Who’s Talking

Number of users (as at June 21, 2016) – 32,079

Number of discussion threads – 75,293

Number of posts – 94,763

 

In the last 48 hours:

Number of new users – 15

Number of new discussion threads – five

Number of new posts – 22

 

Yes, the statistics for the online discussion forums are impressive, which is why the College recommends that students (and members) who have questions about course content peruse the forums.

Available 24/7, the online forums are where you can post questions or use the search function to locate previously asked and answered questions. However, you would need to create a profile first.

In the past four days, the most popular thread discussion was whether less than one month was sufficient time to complete Land, Structures and Real Estate Trading. The general consensus was that it is sufficient time but you should read the entire textbook (not just the summary notes) and understand the contents therein.

The post with the most popular view asked how a new salesperson should choose which brokerage to join. The answer provided by a participant is worth repeating – “Take the time and visit as many local brokerages as you can. Find out what they each offer and what they provide in the way of services to help you succeed.”

The most replies were made on the post in the Real Estate Transaction-General forum. The post expressed worry about chapter 9 of the textbook and confusion about condition precedent. These types of questions require specialized knowledge and are usually addressed by the forum moderator, a College staff member. Sometimes, other users will answer the question and the forum moderator will intervene if the answers provided are incorrect.

Again, the answer to that post is worth repeating, and is shown below:

In a condition precedent, there are six ‘Ws’ to answer:

1. Who does it (This offer is conditional on the buyer…)
2. Who pays for it (… at the buyer’s expense…)
3. What has to be done (…arranging a new first mortgage…) (NOTE: This is the only “W” that will change in a clause; all the others can be written the same way.)
4. When does it have to be done by (…unless the buyer gives notice in writing before 5 pm on the 15th day of June, 2016 that this condition has been fulfilled…)
5. What happens if it’s not done (…this offer shall become null and void…)
6. Waiver (This condition is included for the benefit of the buyer and may be waived…)

Additional pointers:

• learn MORT 2, which is the most difficult clause; then, any other clause you need to write, you’re only changing the #3 ‘W’
• not all condition precedents can have a waiver (a true condition precedent cannot have a waiver; this condition must be fulfilled exactly as written in order for the offer to become firm and binding)
• a true condition precedent does not have the #6 ‘W’ (MORT-1 is a true condition precedent)
• the waiver (#6 ‘W’) allows the offer to become firm and binding without the condition being fulfilled (either at all, or not exactly as written)

Access to the discussion forums through your My Portfolio account, click on “My OREA Community (Discussion Forum for Courses)” on the left side of your screen, and then click on the “Forums” tab at the top of your screen. The “Search” button is located on the top right of your screen.