This 30 hour Broker prelicensure course brings together many of the most important aspects of a real estate broker business. Business startup, business entities, record keeping requirements are discussed. Keeping employees and visitors safe, as well as insurance needs and reduction of liability is covered. Information that every broker should know, including contracts, finance, and sound broker practices is discussed at length. Finally, fair housing and civil rights requirements are outlined in detail.
This course covers:
- BUSINESS STARTUP, EMPLOYER INFO
Learning Objective: Be able to outline the basic types of business entities, including tax requirements and record keeping.
- SAFETY AND RISK REDUCTION
Learning Objective: Understand the physical, hazard, litigious errors and risks, and how to reduce these risks in order to reduce liability.
- PRACTICAL BROKERAGE PRACTICES
Learning Objective: Be able to prepare a Policy and Procedure Manual, the importance of accurate bookkeeping.
- JUDICIAL SYSTEM, CONTRACT LAW
Learning Objective: Understand the rules of arbitration and the importance of a properly drafted contract.
- FINANCE AND AFFILIATED BUSINESS
Learning Objective: Describe the importance of title insurance and case law that illustrates the problems in finance or conveyance of real property.
- REAL ESTATE RIGHTS AND RESTRICTIONS
Learning Objective: Identify the rights and restrictions surrounding real property ownership, deeds, transfer of property, and easements.
- REAL PROPERTY DESCRIPTIONS
Learning Objective: Be able to accurately read a legal description and locate the property.
- FAIR HOUSING AND CIVIL RIGHTS
Learning Objective: Identify the most important aspects of Fair Housing regulations, and the importance of the Civil Rights Act.
FINAL EXAM
Credit Type: 30 Pre-License Credits
Course ID(s): 0490-3701
Approved By: Michigan Department of Licensing And Regulatory Affairs - MI RE Pre-Licensing
