Real Estate/ Continuing Education/ Pennsylvania/ PA 2024-2026 Core - Agency Relationships

CE: PA 2024-2026 Core - Agency Relationships

$39

This product includes:

LICENSE RENEWAL PERIOD: 2 YEARS Elective Hours: 0 Mandatory Hours: 3 Total Hours: 3

Description

State Requirements

The law of agency exists to ensure agents are held accountable for their actions when working on behalf of others in real estate transactions along with other unethical practices. The law requires that agents disclose their agency relationship with all parties involved, make sure all paperwork is accurate, and act in the best interest of their clients and fairly towards customers. By having these regulations in place, it ensures that the real estate industry remains competitive and fair for everyone involved.

By now, you've probably heard of the Sitzer-Burnett case. This federal class-action lawsuit out of Missouri revolved around residential real estate commission rates, which the plaintiffs alleged led to unacceptably high payouts for buyer brokers at the expense of home sellers. In 2023, the court agreed. The following year, the plaintiffs, the National Association of REALTORS®, and other parties in the case reached settlement terms that will have significant effects on the ways real estate professionals across the country do their jobs.

This three-hour mandatory course meets the Pennsylvania Real Estate Commission's requirements for the 2024-2026 Core course on Agency Relationships.

Course highlights include:

Legal and ethical responsibilities of listing agents, buyer's agents, rental listing agents, and leasing agents
Commonly used contracts and agreements, including listing agreements and buyer/broker agreements
Dual agency, designated dual agency¸ and the differences between the two
Delivering Consumer Notice and course of action when it’s refused
Pre-qualification of buyers
Terms of the settlement in the Sitzer-Burnett class-action case.
Practice changes affecting seller and buyer agreements following the NAR Settlement.
Negotiating broker compensation following the NAR Settlement.
Activities and examples to seal in the new information and frame it in everyday context

Package Content:

State Requirements For Pennsylvania

Pennsylvania State Requirement Details for Real Estate Continuing Education

Renewal Date: 5/31 every even-numbered year

Hours Required: 14 hours

2 hours – Fair Housing
3 hours – Agency Relationships
9 hours – elective hours

At the July 10, 2024 board meeting, the Pennsylvania Real Estate Commission voted to approve the mandatory topics for the 2024-2026 renewal cycle. Of the required 14 hours, a minimum of 2 hours in Fair Housing and 3 hours in Agency Relationships must be completed.

Pennsylvania requires that a licensee who wishes to perform Broker Price Opinions (BPO), must complete a continuing education course on the topic. The CE Shop does not currently offer this course.

The CE Shop’s Offering: 14 hours

2 hours – Fair Housing
3 hours – Agency Relationships
9 hours – elective hours

Reporting: The state does not require schools to report course completions.

Expiration Date of Course: Course expiration dates vary by course. Each individual course will have an expiration date listed in your account. See Terms & Conditions for more details.

Final Exam: Final exams must be passed with a minimum of 70% and may be taken as many times as necessary in order to pass.

Certificates: Immediately upon course completions, The CE Shop will provide students with an electronic copy of the course certificate of completion. Certificates will remain in your account for a minimum of five years, should you need additional copies at a later time. Please refer to your application to determine if you need to submit your certificate(s) of completion. Course completion dates are recorded using Central Standard Time. Please note that the date on your certificate of completion will reflect this.

License Renewal Process: The process to renew in this state is to log in to the licensing system online and follow the prompts to renew.

Post-Licensing: Sales licensees are required to take 14 hours of mandatory commission developed modules for the first renewal. Sales licensees must complete the 7-hour general module and either the 7-hour residential module OR the 7-hour commercial module.

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