A new law has taken effect that requires agency-related coursework to be included within a real estate licensees' 22.5 hours of continuing education. Licensees making their first renewal are required to complete two hours of agency-related coursework, while all other licensees are required to complete one hour of agency-related coursework. This change does not apply to those brokers that are exempt from continuing education requirements.
The law of agency is one of the most important duties for a real estate licensee. Many Department of State enforcement actions against licensees relate to violations of agency law. This new education requirement will help you serve your customers and clients better, and reduce your risk for prosecution by the DOS.
Specifically, the coursework will help improve your understanding of the relationships created between buyers/sellers, landlords/tenants and the real estate professional representing them during the real estate transaction. Understanding what fiduciary duties are owed, the proper use of the agency disclosure form, and the ability to properly represent clients in various forms of agency are critical for all individuals involved in the transaction.
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