Law of Agency | Texas Approval #1151

$90.00

30 Hour | Text course | Instructor:  Kaplan University
It is critical for real estate professionals to have a good understanding of agency law to be able to communicate information to associates or to prospective clients, whether they are buyers, tenants, or owners.  This unit introduces you to some basic agency concepts that will hel you understand the larger, more complex issues introduced in the succeeding units.

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Description

TX Law of Agency
 


 

COURSE SYLLABUS

Course Description

It is critical today for real estate professionals to be well grounded in the fundamentals of agency law in order to perform the duties expected of them. Brokers must have a good understanding of the principles of agency law so that they may train their sales and broker associates properly. Sales and broker associates must likewise be able to communicate the principles of agency information to prospective customers and clients, whether they are buyers, tenants, or owners, in order for them to make informed decisions about the relationship that should be established with the broker that will best achieve the client's or customer's intended relationship. This unit introduces you to some basic agency concepts that will help you understand the larger, more complex issues introduced in succeeding units.

1. Agency Concepts

  • What is Agency
  • Roles People Play in Agency Relationships
  • Why study Agency
  • Relationship between Principle and Agent

2. Basic Agency Relationships, Disclosure, and Duties to the Client

  • Agency Defined
  • Authority of Agent
  • Classifications of Agency
  • Fiduciary Duties and Responsibilities 
  • Information about Brokerage Services

3. Duties and Disclosure to Third Parties

  • Non-Fiduciary Duties
  • General Duties of Honesty and Fairness
  • Define Third Party/Obligations to Third Party
  • Section 5.008 of the Texas Property Code
  • Stigmatized Properties

4. Seller Agency

  • Listing Agreements
  • Exclusive Seller Agency
  • Benefits of Seller Agency Relationships
  • Sub Agency
  • Disclosure Issues

5. Buyer Agency

  • Buyer Representation Agreement
  • Deciding to Represent the Buyer
  • The creation of Buyer Agency
  • Benefits of Buyer-Agency Relationships
  • Written Notification of Compensation to Broker
  • Buyer's Broker Disclosures

6. Representing More than One Party in a Transaction

  • The Path from Dual Agency to Intermediary Brokerage
  • Representation of More than One Party in a Transaction
  • Intermediary Brokerage
  • Specialized Intermediary Applications 
  • Intentional Versus Unintended Dual Representation 

7. Creation and Termination of Agency

  • How and When Agency is Created
  • How Agency is Terminated
  • Duties of Agency that Survive Termination

8. Clarifying Agency Relationships

  • Disclosure Policy
  • Understanding a Brokerage Company's Policy

9. Employment Issues

  • Independent Contract Agreements
  • Employment Law
  • Employment Relationships between Brokers and Principals
  • Employment and Compensation of Personal assistants
  • Relationships between Brokers and Agents
  • Compensation Issues

10. Agency, Ethics and the Law

  • Distinctions between Law, Ethics, and Morals
  • Federal and State Law Relating to Conduct
  • TRELA and Rules of the Commission (Ethics)
  • Professional Codes of Ethics
  • Minimum Ethical Standards. 

11. Deceptive Trade Practices

  • Fraud Versus Misrepresentation
  • Deceptive Trade Practices and Consumer Protection
  • Damages
  • Defenses
  • Ethical and Legal Concerns

12. Implementation and Presentation

  • The Broker Working for/with the Seller
  • The Broker Working for/with the Buyer
  • A Practical Guide to Everyday Practice
  • Other Considerations
  • Risk Management

13. Appendices

 


 

Course instructors will be available by email or telephone between 8am and 6pm Eastern Standard Time. They will assist you with questions regarding course content.

If you have any questions, please call us at 1-800-727-7104 or send an email to info@onlinecti.com. Email responses will usually be returned promptly, but guaranteed within one business day.

Student policies and procedures are always available by going to our website and scrolling to the bottom of the page (See Attendance, Privacy and Refund Policy).

 
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