MO 3.0 hours Agency Exposed - Course Syllabus
3.0 Core Hours
During the beginning of the 20th century, many laws were implemented to regulate the real estate profession and to create regulatory bodies, most often referred to as real estate commissions. A primary purpose of these laws was to protect members of the public who transacted real estate business with persons licensed by those regulatory agencies. Real estate professionals became increasingly concerned about the potential legal consequences for practicing in a manner that led to such a huge misunderstanding for all involved, including the brokers and salespersons. It was clear that an effort had to be made to ensure that real estate professionals knew whom they were supposed to represent in a transaction and to ensure that the public was made aware of who did or did not represent them in a transaction. Many safeguards have been implemented to ensure that the licensees and consumers understand agency representation; there is still much confusion and inconsistency regarding those relationships. Real estate professionals must constantly remind themselves of their obligations to their clients and customers, and of their responsibility for explaining agency relationships to the parties to the transaction. Upon completion of this course, the real estate professional with have a better understanding of the different types of agency relationship and the different disclosures involved.