SEF-REX7107 - Broker Relationships and Responsibilities (Post-Licensing #301)

Course Description

Description:

This course is one of three post-licensing courses designed to assist the "provisional" broker to meet the 90-hour post-licensing educational requirement set by the North Carolina Real Estate Commission (NCREC).  All Post Licensing education must be completed within the prescribed period of time after initial licensure.

Course Outline

1. Agency Relationships and Duties – A Practical Review     

• Agent’s duties to principals and third parties; agency relationships in sales transactions(all options). (5 hours)

2. Working with Sellers  (15 hours)     

• Solicitation of listings; preparing for the meeting with a prospective seller
• Listing meeting with prospective seller (all legal and practical issues)
• Determining square footage of residences
• Performing a comparative market analysis
• Assisting seller in setting listing price
• Listing contract requirements, provisions and completion
• Limited service listing agreements
• Marketing listed property
• Working with sellers as a buyer’s agent

3. Working with Buyers (7 hours)     

• Agency disclosure to buyers
• Working with buyers as seller’s agent/subagent
• Working with buyer’s as buyer’s agent (focus on agency agreements and options)
• Tasks to be performed by agent working with a buyer (induing the discovery and disclosure of material facts and qualifying a buyer).

4.  Other Topics (1 ½ hours)     

• Issues when agent leave/change firms
• License status
• Education issues

Learner Outcomes

Objectives:

• To provide students with and in-depth view of Broker Relationships and responsibilities, and
• To gain a practical understanding of how to effectively work with sellers and buyers, and
• To assist students in satisfactory completion of the course

Notes

Method of Instruction - Textbook, Lecture, Discussion

Evaluation - Examinations with a cumulative score of 75% and 90% attendance.

Textbook required. May be used for all three post-licensing courses. Per the NCREC students must meet the 90% attendance requirement and pass the course exam.