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Course Topics for 2011-2012

 

A real estate broker’s permissible role in a short sa= le transaction and the newly revised addenda to the standard residential Offer= to Purchase and Contract form will be major topics of the 2011-2012 Real Es= tate Update Course.

Other topics will address when it is acceptable for a real estate broker to provide a broker price opinion and not risk violating North Carolina appraiser license laws, pertinent issues in residential prop= erty management, changes in the North Carolina Real Estate License Law that impa= ct licensees, resources relating to green building, and the requirements to maintain a current, active license.

Given the increasing frequency of short sale transactions, brokers should develop a firm understanding of the limitation= s on services they may provide to sellers and buyers to avoid the unauthorized practice of law. Issues relating to short sales are discussed in this issue= of the Bulletin on page 4. A general discussion of the topic appeared in the May 2009 issue of the Bulletin and may be quickly accessed from = the Commission Web site search page by typing in “short sales” in the Google se= arch field.

While the current year’s Update Course address= es the January 2011 Standard Form 2-T, Offer to Purchase and Contract, the 2011-2012 Update Course will discuss key addenda including the Back-= Up Contract, and the Contingent Sale, Short Sale, and possibly Additional Provisions addenda, as well as the Due Diligence Request and Agreement. 

Discussion of residential property management issues = will cover summary ejectment actions and issues rela= ting to it and other recent changes in landlord-tenant law.

The 2011-2012 Update Course will be available as of July 1, to allow any inactive licensee wants to reactivate their license to first complete necessary education. =

Brokers who practice primarily in the commercial arena are reminded that there is a commercial version of the mandatory Update Cou= rse usually available by September of each license year. All brokers, without exception, must have either the Real Estate Update Course or the “Re= al Estate Update-Commercial” Course as one of their two required contin= uing education courses every year in order to have a license on active status the following July 1.

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2011-2012 BICAR Course

 

The Commission has asked sponsors not to schedule the 2011-2012 BICAR Course prior to August 2011 as no broker will need the class immediately. Any broker, who loses BIC status or eligibility as of July 1, should:

1) Do whatever is necessary to go back to active stat= us on Commission records; 2) Re-declare as a BIC by sending Form 2.04; 3) Wait= to receive a letter from the Commission telling the broker what special BIC education is needed within 120 days of re-declaring as a BIC.

Do not take any special BIC education until after you have officially re-declared as BIC by sending Form 2.04 to the Commissi= on.

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