Brokerage Relationships and Disclosures (formerly MREC Agency)

Understand agency creation, types of representations, and disclosure requirements

Master the fundamentals of Brokerage Relationships and Disclosures in 3 hours

A client is owed fiduciary responsibilities by the agent. A fiduciary responsibility, conventionally, includes loyalty, obedience, trust, confidence, skill, diligence, accountability, care, and full disclosure and the duties vary based on whom the agent is representing. An agent needs to disclose who they will be representing to all parties. Additionally, an agent needs to develop a strong understanding of the different types of agency relationships and how the agency type they have with each party alters how they work with their clients. To provide licensees with an in-depth understanding of these concepts Tristar Academy has been approved to present this mandatory agency. The course provides an analysis of agency creation in real estate transactions, different types of agency representations, the agent’s common-law duties, the concept of sub-agency, disclosed dual agency, undisclosed dual agency, remedies for breach of fiduciary duties, obligations to non-principals, the abolition of the caveat emptor law in Maryland, and termination of agency. The participant’s understanding of the agency relationship in real estate transactions is enhanced by an in-depth consideration of all the relevant regulatory interventions that govern this subject. The course will also discuss the recent development relating to the agency relationship under Maryland law. The course will also discuss the Real Estate Commission licence renewal policy which commenced after October 1, 2015. This course will: ●       Identify and discuss the different types of real estate agencies ●       Provide a definition for the agency relationship and discuss its problems and principles ●       In the context of real estate, outline the duties of the principal-agent relationship ●       Detail the duties of real estate transaction agents ●       Explain how to terminate agency relationships ●       Outline the disclosure requirements of an agency ●       Roleplay Agency Scenarios with Students Our courses are delivered online by experts via Zoom allowing you to attend from the comfort of your home.

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This course is a 3-hour Maryland Continuing Education Requirement Category: H - MREC Agency-Residential