All real estate licensees are required to attend the 4-hour Real Estate Update continuing education course, as well as one 4-hour continuing education elective course, each license period in order to renew their licenses on active status.

The Update course is developed by the Real Estate Commission and addresses completely different topics each year.

The purpose of this mandatory CE course is to assure that all active licensees receive instruction on recent changes in laws, rules and procedures affecting real estate practice and on other topics or problem areas of special importance.

The 2001-02 Real Estate Update Course is now being offered around the state by Commission-approved sponsors and instructors. The topics covered include:

• Revisions to Commission Rule on Agency Agreements and Disclosure (effective July 1, 2001);
• Home Inspections; and
• Update on Agent’s Responsibility for Reporting Residential Square Footage.

Readers are referred to the articles on pages 8 and 9 of the Bulletin concerning the first two topics listed above. The previous edition of the Bulletin included a reprint (with comments) of the section of the Commission’s Residential Square Footage Guidelines booklet that addresses an agent’s responsibility for reporting square footage.

The revised rule on agency agreements and disclosure was effective July 1. Licensees should attend the Update course at their earliest opportunity to learn about using the new required Working with Real Estate Agents brochure and when they may work with buyers based on an oral agency agreement. The instruction on home inspections is especially interesting and should prove helpful to licensees struggling with this very troublesome area of real estate practice.

Licensees may obtain a schedule of CE course offerings from the Commission either by accessing the Commission’s website (www@ncrec.state.nc.us), calling the Fax-on-Demand line (919/850-2757) or calling (919) 875-3700 to request that a schedule be mailed.