Alabama Real Estate Commission Approved Online CE
ALABAMA School Code: 99653License Renewal Requirements
3.0 hours Disclosure Is Not A Secret Course Syllabus
3.0 Elective Hours
Every real estate transaction involves trust. Buyers trust that the property is what it is supposed to be. Sellers trust that the buyer can pay the agreed-to sales price when they say they will. The brokers, inspectors, escrow companies, and everyone involved must trust each other to deal honestly and fairly with each other.
This is what it takes to make a successful real estate transaction. When information is withheld from a party in a transaction, they feel their trust was betrayed. Disclosure of all pertinent facts about a transaction is the best way to keep that trust during and after a transaction.
The area of nondisclosure and misrepresentation cause more liability for the licensee than any other. Failure to disclose and misrepresentation claims make up more of the real estate disputes than all other complaints combined. Many lawsuits are brought by buyers against brokers and sellers alleging that they failed to disclose pertinent facts about the property. Lawsuits, even if unfounded, drain resources from the business of selling real estate and thus can be problematic for a brokerage firm.
Upon completion of this course, the real estate professional will be able to explain the "what, why and how" of property disclosures. This course is a must have for both the new real estate licensee as well as the seasoned professional.