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The practice of real estate is defined by the role the law of agency plays. It is incumbent, therefore, upon the real estate professional and licensee to have a working and practical knowledge of agency laws and how the consumer and professional will interact under those laws during the course of any given real estate transaction.
This course discusses the principal-agent and master-servant relationships, the authority of an agent, the termination of an agent's authority, the fiduciary and other duties of an agent, employment law, deceptive trade practices, listing or buying representation procedures, and the disclosure of agency. Upon completion of the course, students will understand the role agency relationships play in a real estate transaction and be able to properly apply law, rule, and policy to their practice.
Table of Contents
Unit 1: Agency Concepts
Unit 2: Basic Agency Relationships, Disclosure and Duties to the Client
Unit 3: Duties and Disclosures to Third Parties
Unit 4: Seller Agency
Unit 5: Buyer Agency
Unit 6: Representing More Than One Party in a Transaction: Intermediary Brokerage
Unit 7: Creation and Termination of Agency
Unit 8: Clarifying Agency Relationships
Unit 9: Employment Issues
Unit 10: Agency, Ethics, and the Law
Unit 11: Deceptive Trade Practices and Consumer Protection Act
Unit 12: Implementation and Presentation
Students can expect numerous exercises, quizzes, case studies, and the course will be completed with a cumulative final exam. All elements presented in the course are required for course completion.