77-Hour NY Real Estate License Course Objective:
Provide a comprehensive learning tool to cover all subject matter needed to perform the duties and responsibilities of a real estate sales license holder in NY State. Present the material in a user-friendly manner that is readily understandable.
To instill a strong knowledge of the responsibility of Agency, the difference between a client and a customer, and the Duty of Reasonable Care.
To differentiate between written contracts, oral agreements and implied consent.
(Rule #1-Put it in writing.)
To facilitate preparation for the passing of the state examination
To develop the knowledge base and skill set to conduct business in an ethical and compliant manner
To provide a resource for understanding terminology and concepts pertinent to real estate sales, agency representation, financing, title, property valuation and property rights as well as contracts, liens and closing.
To meet the NY State requirements of documenting successful completion of the required course.
To provide test questions ensuring adequate mastery of the subject matter
To provide support to students encountering difficulty by live one-on-one contact and additional reading resources
Provide a glossary of terminology and concepts
Provide an enumeration of pertinent Federal Acts, Regulations and NY State statutes relevant to Real Estate and Financing. Provide a comprehensive listing of acronyms and their definitions.
Provide real world case study scenarios for interactive participation and ethical and legal decision making. Explain the rationale of correct and improper decisions.
Provide a tutorial on basic real estate math fundamentals and sample problems.
Provide an enumeration of licensing, regulatory agencies and authorities
Review issues of fair housing, fair lending, discrimination, ethical treatment and fiduciary responsibility. Analyze Seller and Buyer Agency loyalty and responsibilities.
Review commercial real estate, condominiums and cooperative forms of ownership, leases and property management.
Zoning and government controls, building codes, mineral and water rights, easements, condemnation, master plans, escheat and taxation
Understanding flood plains and flood insurance requirements and the role of FEMA
Understanding the role of real estate appraisers, Title Companies, Settlement Agents, Escrow Agents, Attorneys, Notary Publics, Mortgage Brokers and Lenders.
Understanding legal implications of non-compliance. Maximum penalties outlined.
Recourse the regulators have against violators. Recourse that clients and customers have for violations.
The rights of clients to obedience, disclosure, confidentiality, accounting, reasonable skill and care (OLDCAR-acronym)
Addendum A-Outline of the must know subject matter
Exam prep study tips
The final chapter of this course will be summary of the required subject matter and brief pertinent descriptions to facilitate remembering for the test.
The course material will use the Bolded and highlighted methodology to alert the candidate to critical words and concepts. All bolded words, phrases or entity names can be found in the glossary attached to this course. Further, the bolded subject matter should be viewed as a must know and careful attention needs to be paid to the exact meaning.
Wishing you great success in your career in service to meeting client’s needs.
