AK Real Estate study guide
AK Real Estate · Work through your exam, one topic at a time.
The Alaska Real Estate Salesperson license is the entry-level credential that lets you represent buyers and sellers in Alaska real estate transactions under a licensed brokerage. It is issued by the Alaska Real Estate Commission within the Division of Corporations, Business and Professional Licensing, and it is for career-changers entering sales, assistants moving into licensed roles, and people planning to work in resort, remote, and military-adjacent markets where Alaska's property quirks - unrecorded easements, subsistence access, Native allotments and corporation land, severe-weather construction - come up routinely. The AK Real Estate study guide has 10 sections and about 3,267 words.
01Agency, Fiduciary Duties, and Representation
Agency is a consensual relationship in which a licensee acts for another, with that person's consent and subject to that person's control. It is created expressly (usually in writing), implied by conduct, or by ratification when a principal accepts the benefits of unauthorized acts.
320 words, about 2 min02Contracts and Transaction Documents
Offer, acceptance, consideration, capacity, lawful purpose, and - for land - a signed writing with an adequate legal description (statute of frauds). A counteroffer terminates the original offer; silence is not acceptance; any change in terms is a new offer.
305 words, about 2 min03Real Estate Financing and Lending
Loan types include conventional, FHA, VA, USDA rural, and Alaska Housing Finance Corporation (AHFC) programs, which are common sources for Alaska first-time and rural buyers. Key metrics: loan-to-value (LTV), debt-to-income (DTI), and housing/expense ratios.
328 words, about 2 min04Property Ownership, Interests, and Transfer of Title
Fee simple absolute is the fullest estate; a life estate ends at death; leaseholds are personal property. Concurrent ownership takes three common shapes: tenancy in common (unequal shares, no survivorship), joint tenancy (equal shares with right of survivorship, severed by conveying one's share), and tenancy by the entirety (not recognized in Alaska).
343 words, about 2 min05Land Use Controls, Regulation, and Environmental Issues
Police power supports zoning, building codes, subdivision/platting rules, and health regulation. Private controls - CC&Rs, deed restrictions, easements - can be stricter than zoning.
307 words, about 2 min06Valuation, Market Analysis, and Pricing
Sales comparison : adjust the comparables for differences (location, size, condition, market timing) - adjust the comparable, never the subject. Cost approach : land value plus replacement cost new, minus depreciation (physical deterioration, functional obsolescence, external obsolescence); most reliable for new or special-purpose buildings.
308 words, about 2 min07Real Estate Practice, Advertising, and Required Disclosures
Ads must be truthful, not misleading, and must identify the licensed brokerage. A salesperson advertises only with the employing broker's approval and under the licensed name on Commission records - nicknames and unlicensed team names can violate the rules.
312 words, about 2 min08Real Estate Calculations and Closing Math
Commission = price × rate. Splits cascade: brokerage split, then the salesperson's split with the broker.
356 words, about 2 min09Alaska Licensing Law and Real Estate Commission Regulations
Alaska licenses three levels - salesperson, associate broker, and broker - under AS 08.88, administered by the Real Estate Commission within the Department of Commerce, Community, and Economic Development. Salespersons and associate brokers must work under a designated employing broker; only a broker may operate a brokerage, hold trust funds, and engage licensees.
347 words, about 2 min10Alaska-Specific Practice: Land Sales Practices Act, Landlord-Tenant Law, Recording, and Property Taxation
Alaska's Land Sales Practices Act targets promotion of subdivided land to the public, especially to buyers who cannot easily inspect remote parcels. It requires registration and disclosure before sale and gives purchasers remedies, including rescission, for noncompliance.
341 words, about 2 min