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Washington Real Estate Practices

Online Course: ID# 1002548
About This Course:
This 30 hour course is valid for Washington and includes the following topics:

  • Agency Relationships
  • Establishment of agency relationships are
  • Creation of fiduciary relationship
  • Definitions of client and customer relationships between prospective purchasers and real estate licensees
  • Relationship between real estate brokers and their affiliated licensees relating to agency relationships
  • 5 services a licensee can provide to a prospective purchaser that establishes agency
  • Disclosure requirements
  • Compensation
  • Multiple listing associations
  • Vicarious liability" and Imputed knowledge
  • Disciplinary actions for violating agency laws
  • Listing Agreements
  • Exclusive Right to Sell agreement
  • Difference between an Exclusive Right to Sell and Exclusive Agency listing agreement
  • Relationship of an affiliated licensee with the broker in a listing agreement
  • Authority to sign, modify, or cancel a listing agreement
  • 3 ways a listing agreement can be terminated
  • Termination
  • Environmental factors that may require disclosure
  • Categories forming the basis for discrimination under the Fair Housing laws
  • Fair housing discrimination in advertising
  • Antitrust laws
  • How real estate commissions are determined
  • Payment of a commission under a listing agreement
  • Evaluating and Pricing Property
  • Comparative market analysis (CMA)
  • Value of a property
  • Cost, value, and price
  • Role of an appraiser
  • Sources of information needed for preparing a market analysis
  • Financing terms
  • Zoning laws
  • Working with Buyers
  • Methods of addressing pending divorce actions; partnerships or corporate sellers'/buyers'; builder or seller guarantees; pending foreclosure actions; pending bankruptcy; sales involving estates
  • How to present offers, counter-offers, and multiple offers
  • Appropriate conduct and behavior when showing property and presenting offers regarding Fair Housing Laws
  • Communication with all parties
  • Estimate of seller's proceeds for a residential sale
  • Estimate buyer's cash requirements to close
  • Negotiation and Sales Techniques
  • Structuring an offer
  • Effective agency representation
  • Representing a buyer
  • Negotiation process
  • Successful sales techniques and consumer protection
  • Home inspectors
  • Federal, state, and local fair housing laws
  • Permitted and unlawful activities for unlicensed personal assistants
  • Purchase and Sales Agreements with Earnest Money Provisions
  • Purchase and Sale Agreement and various addenda
  • Types of contracts
  • Contract modification, canceling a contract, attaching additional addenda to the contract, and common law issues
  • How offers become contracts
  • Legitimacy of facsimile and telegram copies versus original copies
  • Notification and acceptance
  • Statute of Frauds regarding real estate contracts
  • Contingencies
  • Acceptable forms of earnest money
  • Proper handling procedures for earnest money
  • Residential Financing
  • Qualifying the purchaser
  • Guidelines for qualifying a purchaser
  • Pitfalls to avoid when qualifying a purchaser
  • Influence of the value of property when qualifying a borrower
  • How to arrive at the maximum purchase price a borrower can afford to pay for a home
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Washington Real Estate Practices
Price: $150.00
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