OR 3.0 hours Agency Exposed - Course Syllabus
3.0 Elective Hours
Any real estate professional who is found to have breached their agency relationship can be disciplined or judged by either a regulatory agency or a court of law, or both. Regulatory agencies’ sanctions vary but most will have as a minimum a letter of reprimand, suspension of license and revocation of license. Other common regulatory sanctions placed on real estate professionals who have breached their agency relationship are fines or monetary penalties, educational requirements, examination requirements or other special conditions or restrictions of licensure. If a client were to be sued for the acts of an agent, it's very likely that the client will, in turn, sue the licensee. This course will help you have a thorough understanding of the obligations a real estate professional has to their client vs. their customer, and distinguish which party you represent in a transaction. You will also be able to explain why proper agency disclosures are a critical element of practicing real estate and also to identify the parties to whom the licensee must disclose their agency representation. You will be able to avoid the pitfalls of false representation and identify actions that could constitute a breach of fiduciary duties and the consequences of such breach.