Real Estate Continuing Education: Fundamentals of Real Estate Law Agency Course

Fundamentals of Law of Agency

Registration: Click for Online Registration

1. LAW OF AGENCY I
   1. Define classification of agents
      1. Buyer’s Agent
      2. Seller’s Agent
   2. How agency relationship is created
      1. express agency
      2. oral or written agreements
   3. Various methods of termination of agency
      1. expiration of a listing contract
      2. completing the terms of agency
   4. D. Overview of commission arrangements
      1. percentage of final sales price
      2. net listings
      3. flat fee
      4. price fixing
   5. Discuss commission splits to sales associates and cooperating brokers
   6. Define and discuss agency and subagency
      1. fiduciary relationship between a principal and an agent
      2. authorization of a principal to an agent to use other agents to help both seller/principal and the listing broker of the property
2. LAW OF AGENCY II
1. Disclosure – when and how it must be used
   1. Review Agency Disclosure Form
2. Review different types of listing contracts
   1. exclusive right to sell
   2. open listing
   3. exclusive agency
3. Review local MLS rules and regulations for commissions
4. Explain Anti-Trust laws
   1. violations
   2. Sherman and Clayton Antitrust Acts
   3. Federal Trade Commission Act
5. Discuss nature of independent contractor
   1. rights, duties and obligations of broker and salesperson