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Think you’ve mastered real estate contracts for your exam? Let’s test that! This Real Estate Exam Practice session dives into the most commonly missed Contracts questions — from listing agreements to purchase offers, counteroffers, contingencies, and contract termination. You’ll learn how to identify valid vs. voidable contracts, understand essential elements, and avoid the tricky exam traps that trip up even experienced students. This video is crucial for anyone looking to pass their real estate license exam! Birdsy is your personal, AI-assisted study partner—ready to explain confusing terms, provide real-world examples, and adapt to your learning style. 👉 Start learning smarter and pass your exam with Birdsy → https://birdsy.ai/real-estate 🎯 Who This Real Estate Exam Prep Video Helps ✅ Real estate students preparing for the national or state licensing exam ✅ Learners using Birdsy.ai for adaptive practice and recall training ✅ Agents reviewing contract law, contingencies, and closing documentation ✅ Anyone struggling to remember when a contract is valid, void, or unenforceable 📘 What You’ll Master to Pass Your Real Estate Exam ✅ Essential Contract Elements – Offer, acceptance, consideration, capacity, legality ✅ Listing Agreements – Exclusive right-to-sell, exclusive agency, open listings ✅ Purchase Contracts & Counteroffers – Timing, signatures, and earnest money ✅ Contingencies – Financing, inspections, and appraisal conditions ✅ Contract Termination & Breach – Remedies, rescission, and forfeiture rules ✅ Exam Pitfalls – Contract scenarios that confuse top test-takers ⏱️ Timestamps 00:00 - Introduction 0:12 - Fundamentals of Contract Law: Essential elements of a valid contract (offer, acceptance, consideration, lawful purpose, competent parties) 5:20 - Classification of contracts: bilateral vs unilateral, executory vs executed, express vs implied 9:15 - Enforceability: valid, void, voidable, unenforceable; statute of frauds; when writing is required 13:05 - Real Estate-Specific Contracts: Offers: terms, acceptance, counteroffers, revocation, deadlines (“time is of the essence”) 18:22 - Listing agreements & buyer-broker agreements: employment contracts, exclusive vs open listing, commission entitlement 21:56 - Options, lease-options, lease-purchase contracts, land contracts (contract for deed) 25:06 - Contract Modifications, Assignments & Terminations: Amendments and addenda: when contracts may be modified; assignment vs novation 28:10 - Termination: performance, expiration, mutual rescission, breach, default, specific performance 31:03 - Breach, Remedies & Risk Management: Breach of contract: material vs minor, rights of parties 34:19 - Remedies: suit for damages, rescission, reformation, specific performance, liquidated damages 36:09 - Deposits, disclosures, avoiding unauthorized practice of law 📘 Topics Covered for Your Real Estate Exam Success ✓ How to identify valid, void, and voidable contracts ✓ Key differences between listing and buyer representation agreements ✓ How contingencies protect buyers and sellers ✓ Rules for counteroffers, earnest money, and acceptance ✓ Breach of contract and legal remedies on the Real Estate Exam ✓ Common exam traps around mutual consent and consideration 💥 👇 Try Birdsy FREE – Built for Real Estate Exam Success 🌐 https://birdsy.ai/real-estate 🔗 Helpful Resources for Real Estate Exam Prep 🌐 Birdsy Real Estate Exam Prep → https://birdsy.ai/real-estate 🌐 National Association of REALTORS (NAR) → https://www.nar.realtor 🌐 U.S. Department of Housing and Urban Development (HUD) → https://www.hud.gov 🔔 Like & Subscribe for More Real Estate Exam Tips 🔔 Subscribe for more Real Estate Exam Prep and contract law practice videos! 👍 Like this video if it clarified confusing contract rules 💬 Drop your toughest question in the comments—we’ll help you solve it! 🧠 About Birdsy: Your AI Study Partner for Exam Success Birdsy is your personal, AI-assisted study partner. Unlike static practice tests, Birdsy adapts to how you learn—through interactive questions, real examples, and memory-boosting tools. Whether you’re studying Real Estate, Mortgage, or Insurance, Birdsy helps you study faster and retain more. 👉 Try it free today and boost your exam readiness → https://birdsy.ai/real-estate ⚠️ This video is for educational use only. Licensing requirements and exam content may vary by state or region. Verify all details with your licensing agency or official exam provider. Birdsy cannot guarantee outcomes and assumes no liability for exam performance.