Purpose: The purpose of your weekly assignments is to create a quick reference study guide
to assist you in preparing for the California Real Estate Salesperson License Exam
Instructions: Respond to the prompts listed below in all parts (part 1- no need to write complete sentences)
PART 1: Study Guide
Chapter 1: Real Estate Agency Relationships
- Discuss real estate agency law and the duties associated with fiduciary relationships
- Explain the ways agency relationships can be created and terminated
- Describe agency disclosure requirements and disclosure forms, and
emphasize the potential penalties for failure to disclose required information in a timely fashion - Identify the different types of agency relationships
- Summarize the practical aspects of agency relationships in daily business activities,
with emphasis on activities and behaviors that could result in disciplinary actions or other penalties
Chapter 2: Listing Agreements & Property Disclosures
- Describe the purpose of listing agreements in real estate transactions
- Contrast the key features of different types of listing agreements
- Identify the required (legal) elements in every listing agreement, and explain the importance of core provisions
- Discuss mandatory property disclosure requirements, and the forms used to make those disclosures
- Summarize the legal issues and duties real estate agents should be aware of during the process of establishing and implementing a listing agreement relationship with a property seller
