Law of Agency - (1111) Online version

360TRAINING, INC.
Pre-License
Law of Agency
COURSE NUMBER: TREC 1111
30 hours

COURSE SYLLABUS

COURSE DESCRIPTION

Texas Law of Agency is a 30-hour course required by the Texas Real Estate Commission (TREC) for anyone who wishes to become a licensed real estate agent in Texas. This course discusses the rules and regulations governing real estate agency relationships in the state of Texas.

PREREQUISITES: None

LEARNING OBJECTIVES:

  • Define the role of the agency in real estate practice
  • Describe the various types of agencies
  • Identify the role of the parties in an agency relationship
  • Determine the agent's responsibilities and liabilities in a real estate
  • transaction
  • Describe the methods of establishing agency relationships
  • Describe the Amendments to the Texas Real Estate License Act by Senate Bill No. 489
  • List the different types of disclosures of representation
  • List different kinds of listing contracts and buyer broker agreements
  • Describe Employment Law and its various nuances
  • Describe the Texas Deceptive Trade Practices Act
  • List what steps agents can take to protect themselves against liability

REQUIRED MATERIAL:

The items listed below are the minimal system requirements in order to take this online course. While you may use the minimal requirements shown below, it is recommended to use a faster system and faster Internet connection. Some courses may take time to download on 56k modem. If your computer is not up to par, the local library should have on-site computers available and connected to the internet free of charge.

  • IBM PC Compatible Computer (200 MHz processor with 32MB RAM)
  • Sound Card with speakers or headphones
  • SVGA (800x600) video card, driver, and monitor
  • Microsoft Windows 95/98/ME/NT/2000/XP
  • Internet connection (minimum 56Kbps recommended)
  • Microsoft Internet Explorer version 5.0 or greater (free download)

TYPE OF COURSE:
The course is an online course taken at the student’s convenience. It is available 24 hours a day, seven days per week.

Should you require help regarding the online course, please contact the content expert at instructor@360training.com. If you have technical questions please contact support@360training or 800-480-3890.

EVALUATION:
The course contains several lessons which include quizzes. The student must pass a lesson’s quiz in order to move onto the next lesson. In order to complete the course, the student must pass the final quiz with a minimum score of 70%.

At the time of completion, an automatic notification to will be submitted. The College will mail you a certificate of course completion to the address you provided during course enrollment, and it is your responsibility to submit a copy of the certificate to TREC for credit. For more real estate education requirements, the student should visit TREC’s Web site, www.trec.state.tx.us

COURSE OUTLINE:

Law of Agency

Lesson 1- Fundamentals of Agency: 3 hours

  • Fundamentals of Agency Law
  • History of Real Estate Agency
  • Role of Agency in Real Estate
  • The Principal-Agent Relationship

Lesson 2- Texas Agency Law: 5 hours

  • Chapter 1101, Texas Occupations Code - The Real Estate License Act
  • Rules of The Texas Real Estate Commission

Lesson 3- Creation and Termination of the Agency Relationship: 4 hours

  • Express Contracts
  • Implied Agency
  • Gratuitous Agency
  • Termination of Agency Relationship

Lesson 4- Authority and Liability: 2 hours

Lesson 5- Types of Real Estate Agency Relationships: 3 hours

  • Seller’s Agent
  • Buyer’s Agent
  • Subagency Relationship
  • Dual Agency and Intermediaries

Lesson 6- Disclosures and Other Duties: 2 hours

  • Disclosure
  • Agent’s Duty to the Principal
  • Agent’s Duty to the Third Party (Customer)
  • Principal’s Duties
  • Customer’s Duties

Lesson 7- Agency Agreements: 2 hours

  • Listing Contracts
  • Types of Listing Agreements
  • Termination of Listings
  • Buyer-Broker Agreements

Lesson 8- Sales and Commissions: 3 hours

  • Suit for Commission
  • Procuring Cause of the Sale
  • Agent’s Duties to the Customer
  • Broker Employment
  • Commission Rates
  • Selling Your Services

Lesson 9- Employment Law: 2 hours

  • Principal-Agent vs. Master-Servant
  • Internal Revenue Service
  • Employment Anti-Discrimination
  • Workmen’s Compensation Laws
  • Personal Assistants

Lesson 10- The Texas Deceptive Trade Practices Act: 2 hours

  • Deceptive Trade Practices Act
  • How it affects a Real Estate Licensee
  • How to protect yourself
  • Some Really Bad Words in Real Estate

Lesson 11- Real Estate Practice: 2 hours

  • Introduction to Real Estate Practice
  • Insight into Agency Law
  • Field Applications of Agency Law