Real Estate Brokerage - No. 0711

Real Estate License Course Details

This 30 Credit Hour course is required by the Real Estate Commission in order to apply to upgrade to the Broker level of authority.

Course Objective:

To provide a course of study for the practical application of laws, rules and sound business practices for the management, operation and supervision of a real estate brokerage company. Upon completion participants will have obtained an understanding and working knowledge of the necessary components of planning and organization of a brokerage. Students will also be introduced to operational policies and procedures, recruiting, selection and training of personnel. This will include a discussion of independent contractor agreements, supervision of employed broker associates and an ability to understand and apply the requirements of recordkeeping and trust accounts. Management controls, real estate brokerage firm analysis and criteria for expansion will also be examined. Participants will have obtained a basic knowledge of real estate brokerage business planning and will be able to explain the functions and role of the Real Estate Commission and the Division of Real Estate.

Course Introduction:

Students will experience numerous assessments such as exercises, quizzes and examinations throughout the material together with a policy workshop. An office policy workshop allows the student the opportunity to start their policy per statute and assists in the development process thereof. Passage of all assessments, the office policy and the final exam is required to complete this course.

Learning Objectives:

This is a comprehensive Brokerage course. At the conclusion of this course, students will;

  • Be able to recognize state government functions as they relate to real estate
  • Analyze the taxation of business and then compare and forecast based on projections
  • Illustrate the requirements for an office policy
  • Be able to support their associates by recognizing good and bad business practices
  • Differentiate between the responsibilities of managing an experienced broker vs. an inexperienced broker
  • Be able to recall the rules and regulations as they pertain to Trust accounts and accounting practices
  • Demonstrate the ability to examine and discuss the closing statements and transaction documents
  • Formulate and Prepare an office policy manual that complies with Rules and Regulations
  • List the functions of the real estate commission and division of real estate
  • Investigate rules and regulations that relate to the real estate industry and derive a plan for informing associates and consumers about the same

Table of Contents Introduction Unit I ? Introduction to Planning a Brokerage Business

  • Type of Company and Start-up Fees
  • Office Support
  • Recruiting agents and staff; EEOC guidelines
  • Employees vs. independent contractors
  • Written employment agreements
  • Compensation
  • Termination Policies

Unit II ? Real Estate Commission and the Division of Real Estate

  • The Licensing Section
  • The Education and Communication Section
  • The Investigations Section
  • Sustainability

Unit III ? Trust Accounts and Record Keeping

  • Broker Supervision and Oversight
  • Operations account
  • Trust accounts
  • Security and advance deposits
  • Transaction files; checklists
  • Closings
  • Escrow Requirements
  • Earnest Money
  • Property Management Records
  • Change of brokers, principals: disposition of funds, records
  • Retention periods

Unit IV - Agency and Broker Relationships

  • Agency Relationships
  • Brokerage Agreements
  • Productivity

Unit V - Broker Supervision and Liability

  • Broker Supervision
  • Advertising
  • Monitoring Transactions
  • Monitoring Licensees
  • Recruiting
  • Training
  • Firm Analysis
  • Expansion

Unit VI ? Office Policies and Procedures

  • Sales
  • Property Management
  • Other Management Issues

Unit VII ? Office Policy Workshop

  • Files
  • Minimum Service Requirements
  • Handling earnest money
  • Transaction Documents
  • Brokerage Relationships
  • Property Management Activity

Unit VIII ? Leadership

  • The Licensing Section
  • The Education and Communication Section
  • The Investigations Section
  • Sustainability

Unit IX ? Other Current Issues

  • Current Rulemaking / Recent Changes
  • Risk Reduction
  • Identity Theft and the FTC
  • Sustainability
  • Mobile applications

The course contains numerous exercises, quizzes, and examinations. It is completed with a multiple choice final exam and a review of specific sections of your submitted office policy assignment.