Upon completion of this course, the participant will be able to:

• Identify the information that you should gather prior to completing a Listing Agreement and understand the benefits of having a checklist for this information.
• Accurately complete an Exclusive Right to Sell Listing Agreement and explain the major elements of the agreement.
• Explain the difference between an Exclusive Right to Sell Listing Agreement, an Exclusive Agency Agreement, an Open Listing Agreement and a Net Listing.
• Distinguish between types of Buyer’s Agreements.
• Explain how real estate commissions are determined and know how to calculate commissions and pro-rations.
• Describe who is entitled to initiate an action for payment of a commission under a Listing Agreement.
• Describe how a licensee may be entitled to a commission following expiration of a Listing Agreement.
• Discuss the options a listing representative has when contacted by a prospective buyer to avoid agency conflicts.
• Describe what steps should be taken to guard against dual agency.
• Explain who has the authority to sign, modify or cancel a Listing Agreement and Identify three (3) ways a Listing Agreement can be terminated.
• Describe environmental factors that may require disclosure in a listing agreement.
• Describe who is entitled to initiate an action for payment of a commission under a listing agreement.
• Describe how a licensee may be entitled to a commission following expiration of a listing agreement.
• Describe the major sections of the Seller Property Condition Disclosure.
• Describe the relationship of a licensee with the responsible broker in a listing agreement.
• Explain the reason(s) for creating a transaction file and describe what information should be contained in this file.
• Describe how current market conditions will affect pricing and marketability of real estate including time the listing has been on the market.
• Discuss zoning and how regulatory issues involving environmental problems or land use restrictions might affect the marketing or value of property.
• Describe what practices would be considered professional or appropriate in negotiations.
• Identify various ways in which to advise clients to respond to offers and counter-offers.
• Describe typical problems that may arise between contract and closing and thereby threaten to delay or prevent closing.
• Discuss the licensee’s responsibility in resolving conflicts that may arise.
• Discuss the steps that should be taken if the transaction falls apart at closing, and the recriminations between the parties involved.
• Explain the process of preparing a Comparative Market Analysis (CMA) and be able to describe what types of data should be maintained in-house and what external data you will need and where to obtain it.
• Explain every component of a CMA to the client and justify numbers and data used.
• Explain why the subject property list price does not match other “opinions” of value such as the assessor’s valuation, and your client’s expectation of price based upon what others have paid in the neighborhood.
• Identify the seven (7) categories forming the basis for discrimination under the Fair Housing Law and give a practical example of why a listing should be refused under each category.
• Explain what constitutes fair housing discrimination in advertising and accurately compose two advertisements that demonstrate compliance and identify and explain three (3) real estate practice activities controlled by antitrust laws.
• Describe the attributes of good marketing material and describe any laws and regulations (including fair housing laws) pertaining to marketing materials.