Nebraska Real Estate Continuing Education - NEBRASKA Approved School: RealEstateCE.com
NE 3.0 hours Risk Awareness Course Syllabus
3.0 Elective Hours
A sound understanding of agency is one of the big keys to managing risk as a real estate professional. If an agent understands her role in the transaction, most of the problems stemming from the other six risk categories fall into place as a result of meeting agency obligations. Agency is a relationship created when one person, the principal, delegates to another, the agent, the right to act on her behalf and to exercise some degree of discretion. Agency is a fiduciary relationship imposing on the agent certain duties, obligations, and high standards of good faith and loyalty.
Agency is a creature of common law. In the early 1990s, many states attempted to repeal the common law. The net effect has been to impart agency common law, including agency duties and the limits of those duties, in terms that are more easily understood. The goal is to ensure that potential clients understand what it is that the agent is going to do and, more importantly, that the agent understands what he is going to do.
Real estate professionals assume risk, but they are going to have to manage it properly. If you are going to manage risk as a real estate professional you need to understand agency. This course is designed to assist the real estate professional in proper risk management.