MI 3.0 hours Agency Exposed (law) - Course Syllabus
3.0 Law Hours
Successful real estate professionals know that one must understand how an agency representation relationship is created, what it means for an agent to represent a principal, and how that agency relationship can be fulfilled. Besides educating clients and customers about agency representation, the real estate professional has to go a step further and must properly disclose whom they represent in the transaction. For clients, this is most often revealed in the document that creates the agency relationship, be it a listing agreement or a buyer's agency agreement. A real estate professional should not assume that just because they do not represent a party in the transaction that they are under no obligation to the parties to the transaction. While they may not have the standard responsibilities set out for agency relationships, statutes and rules may certainly hold brokers and salespersons responsible for their activities and treatment of the parties to the transaction. Upon completion of this course, real estate professionals will have a solid understanding of agency representation and the ability to communicate that knowledge by understanding disclosure requirements. This course covers whom an agency representation relationship must be disclosed to, how the disclosure be presented when the disclosure must be made, and the different types of agency relationships.