SEF-REX7213 - GENUP (CE)
Course Description
This course fulfills the annual CE credit as mandated by the NCREC. The commission changes the subject matter of this course each year.
Course Outline
1. Introduction
- Section 1
- Section 2
- Section 3
2. Revised Rules
- Seller Agent/Subagent Disclosure
- First Substantial Contact
- Dual Agency
3. Practical Application of Agency Rules
- Working with the Seller
- Working with the Buyer
- Dual Agency
4. Home Inspector Licensure
- Definitions
- Duties of Home Inspectors
- Limitations on Scope of Inspections
- Items/Systems Inspection and Reporting Requirements
- Home Inspectors' Code of Ethics
5. Home Inspection Clauses in Purchase Contracts
6. Sources of Potential Problems
- Differing Standards
- Variance in Inspection Reports
- Examples
7. Revisions to "Agents' Responsibility" Section of the NC Real Estate Commission's Residential Square Footage Guidelines.
- Basic Competency Standard Expected
- Degree of Accuracy Required
- Agents' Responsibility to Personally Measure and Derive Square Footage
- Reliance on Square Footage Reported by Other Persons - General & Qualified Professionals
Learner Outcomes
Upon completion of this course, the student should have a clear understanding of the following:
- Agency disclosures and relationships in compliance with the Rules in their brokerage practice revised effective July 1, 2001.
- Rules governing home inspectors and what they are and are not required to observe and report.
- What is included and excluded in particular inspection/repair provisions of the purchase contract used by the parties in a given transaction.
- Limitations of and remedies under the applicable inspection/repair clause in a given contract.
- A real estate agent's responsibility for determining and reporting square footage under the Commission's Residential Square Footage Guidelines.
Notes
Method of Instruction - Lecture, Discussion
Class Materials provided by the Instructor