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5.0 hours Avoiding Common Mistakes – Course Syllabus

Course Syllabus:

5.0 Specialty Credit Hours.

Licensees are agents for their broker. Under some circumstances, a broker may be liable for the wrongful actions of a licensee under their supervision. Vicarious liability is defined as a person who is responsible or liable for the actions of another person. Some of the most common vicarious liability issues brokers face are negligent misrepresentation, intentional misrepresentation, and intentional concealment.

Negligence is defined as the failure to use ordinary or standard care and is a failure to disclose a material fact out of ignorance when the licensee should have known otherwise. This is where the licensee makes a statement without any reasonable grounds to believe that it is true.

Intentional misrepresentation is defined as knowingly making a false statement about a material fact. It is also known as fraud. Claims of intentional misrepresentation would include knowledge by the licensee that the information was false and damage to a consumer who relied on this false information.

Intentional concealment is knowingly failing to disclose a material fact. Claims of intentional concealment may include a material fact was concealed or suppressed, the fact was concealed with an intention to defraud, and the fact that the consumer was damaged because of the concealment.

This course is designed to bring awareness to the real estate professional of the common pitfalls/mistakes that are made by many licensees. The course is practical in nature and discussion is based on the introduction of the subject.