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

• Define a contract and describe the elements necessary for a valid contract.
• Explain the Statute of Frauds and a basic PSA.
• Describe basic provisions contained in a typical listing agreement.
• Describe the importance of a legal description and buyer's agreements.
• Discuss when a contract is required and describe torts.
• Identify seller's disclosure statements, who must comply and who may be exempt.
• Define home warranties and Errors and Omissions insurance.
• Explain the Importance of business plans and using standard forms.
• Describe and give examples of various resources to aid a real estate licensee.
• Explain how offers become contracts.
• Describe loan pre-approval and buyer and seller motivation.
• Explain the circumstances for multiple offers and escalation clauses.
• Discuss how to defer risk to others and the importance of clear documentation.
• Explain common environmental concerns and how they impact a real estate transaction.
• Define basic agency and types of agency.
• Explain the basics of Fair Housing laws and give examples.
• Explain anti-trust law and the penalties for violating the laws.