4.0 hours Risk Awareness – Course Syllabus

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Course Syllabus:

4.0 Specialty Credit Hours

When a real estate agent takes on the obligation to represent a client he becomes a fiduciary and takes on a fiduciary duty. A fiduciary is defined as a person who obligates himself/herself to act on behalf of another. The fiduciary owes complete allegiance to the client. Among the obligations that a fiduciary owes to their client are the duties of loyalty; obedience; full disclosure; to use skill, care, and diligence; and to account for all money and property.

The primary fiduciary responsibility of a buyer's agent is to her client, the buyer. This licensee is not obligated to protect the sellers if she does not have an agency relationship with them. However, if the licensee discovered that the buyer may not be able to qualify for financing due to a previous bankruptcy, then that information is pertinent to the transaction and should be disclosed.

The consumer of today is better educated and more willing to litigate than in the past; largely due to access to information on the internet. This creates a legally complicated and risky environment for real estate professionals. The intention of this course is to teach real estate licensees how to recognize, evaluate and manage risk.

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