This course must be completed between the time the first license is issued and the time the active license is renewed. The course begins with an overview of the structure of the real estate brokerage firm, the relationships between the broker, managing broker, and designated broker/firm, and the responsibilities of the brokers. Agency relationships, duties, disclosures, services, and the creation and termination of agency are explored, followed by an examination of Washington contracts and agreements commonly used in residential real estate transactions. Students will learn how to evaluate property and prepare a CMA, describe different types of ownership interests and rights, design effective marketing material, conduct ethical negotiations, establish rapport with clients, and handle problems that may arise between contract and closing. Next are discussions regarding unprofessional conduct, disciplinary actions, supervisory responsibilities, appropriate documentation practices to help avoid miscommunication and liability, common issues that may disrupt a real estate transaction, foreclosures, and interpleader actions.
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