The mandatory Real Estate Update continuing education course for the 2006-2007 license year has as one of its components a study and review of the proper procedures for listing residential property for sale. Other topics include “Inspection and Repair Issues in Residential Sales,” “Licensing and Education Issues,” and “The Commission’s Website Revisited.”
Listing Residential Property for Sales – Points to Remember
It is the intent of this section of the Update course to emphasize to licensees the importance of working with clients and customers in a manner that complies with the law and good ethical practices, and that best serves the interests of real estate consumers. Licensees will be reminded of the proper procedures and certain restrictions regarding the solicitations of listings. Update course instructors will also lead discussions in the proper preparation for and proper conduct of the prelisting meeting with a prospective seller, verifying and reporting square footage, assisting the seller in setting the appropriate listing price and completing the listing contract, as well as the proper methods of submitting information to the MLS and appropriate marketing of the listing. Approximately an hour and a half of the four-hour course is devoted to this topic.
Inspection and Repair Issues in Residential Sales
The 2006-2007 Update course reviews the two alternative provisions relating to inspections and repairs in Paragraph 13 of the standard offer to purchase and contract form. Licensees will discuss the pros and cons of each alternative and how to assist their buyers and sellers in understanding the alternatives and in determining which alternative is most advantageous in their individual situations. Inspection and Repair Issues comprise just under an hour of the new Updatecourse.
Licensing and Education Issues
April 1, 2006 marked a significant change in North Carolina’s real estate licensing requirements. Approximately 45 minutes of the Update course reviews the new licensing and broker-in-charge requirements. Licensees will also be reminded of the new post licensing requirements, the methods for removing the provisional status of “converted” licenses, as well as the consequences for failure to comply with the new education requirements. Instructors will also remind licensees of how to maintain a current and active real estate license.
The Commission’s Website Revisited
The Real Estate Commission first unveiled its website in the summer of 1997, but the website has been steadily improved since that time. This year’s Update course examines the improvements to and capabilities of the current website which will hopefully enable licensees to more fully utilize the site.
This article came from the June 2006-Vol37-1 edition of the bulletin.