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'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

  • Conventional, FHA, and VA financing and'

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