RELE 2201 Law of Agency

Transcription

1 RELE 2201 Law of Agency Syllabus for CRN Fall, 2016 Online - August 22 to September 17, 2016 Textbook: Texas Real Estate Agency, 8 th Edition, Donna K. Peeples, Minor Peeples III, A. Sue Williams; Dearborn Publisher, ISBN / Copies are in HCCS Bookstore ( ) at the West Loop location, amazon.com, Instructor: Professor Charlotte Goeters Contact information: charlotte.goeters@hccs.edu, (cell or text), Monday through Saturday. Include your name and the course in any message left if you want a return call. Office Location: 5601 W. Loop S, by appointment only. Total course Contact Hours: 32 classroom hours Course Length: 4 weeks Course Description: A study of law of agency including principal-agent and master-servant relationships, the authority of an agent, the termination of an agent s authority, the fiduciary and other duties of an agent, employment law, deceptive trade practices, listing or buying procedures, and the disclosure of an agency. Prerequisites: Academic Discipline/CTE Program Learning Outcomes: 1. Explain the Articles of the Texas Real Estate Commission s Canons of Professional Ethics. 2. Analyze the disclosure requirements in various real estate situations. 3. Describe the real estate sales/transactions process. Course Student learning Outcomes (SLO) 4 to 7): 1. Identify reasons for suspension or revocation of a real estate license. 2. Illustrate ways in which agency relationships can be created and terminated; describe the fiduciary relationship that exists between an agent and his principal. 3. Explain the Deceptive Trade Practices Act as it affects the real estate agent and the duties and obligations of the client, customer, and agent. 4. Distinguish between dual agency and intermediary relationships; and explain the mandatory Sellers Disclosure or Property Condition form.

2 5. SCANS and/or Core Curriculum Competencies: If applicable: 6. Identify reasons for suspension or revocation of a real estate license. Workplace Competencies Information-Organizes & maintain 7. Illustrate ways in which agency relationships can be created and terminated; describe 8. mandatory Sellers Disclosure or Property Condition form. SCANS and/or Core Curriculum Competencies: If applicable: 9. Identify reasons for suspension or revocation of a real estate license. Workplace Competencies Information-Organizes & maintain the fiduciary relationship that exists between an agent and Foundation Skills Thinking Problem Solving Instructional Methods: Online lessons, online quizzes, reading assignments in textbook, list of real estate- related websites, online list of key terms, and course , online posting. Student Assignments: Reading textbook and online lessons, required online quizzes and tests. Student Assessment(s): Required online quizzes, online Mid Term Exam, in person Final Exam. Instructor s Requirements: Full participation, including completion of all quizzes, midterm exam, and final exam, by posted dates. HCC Grading Scale: We no longer offer make-up exams the Monday after final exam dates. HCC is now requiring teachers to post final grades immediately after the posted exam date. If a student misses the final exam in this course he/she will receive an F. The student must contact the course instructor. Students may be able to arrange through their instructor to take an early exam. Any such arrangement must be made during the first two weeks of class. Instructor Grading Criteria Access Student Services Policies on their Web site: A = B = C = D = and below=f W (Withdrawn) If a student decides to drop, it is his responsibility to withdraw himself from the class. I (Incomplete) (You must have completed 90% of the course, and have a documented dire emergency.) FX (failure due to non-participation/non-attendance) FINAL GRADE OF FX: Students who stop attending class and do not withdraw themselves prior to the withdrawal deadline may either be dropped by their professor for excessive absences or be assigned the final grade of FX at the end of the course. Logging into a DE course without active participation is seen as non-attendance. Students who stop attending classes will receive a grade of FX, compared to an earned grade of F, which is due to poor performance. Please note that HCC will not disburse financial aid funding for students who have never attended class. Instructor Grading Criteria: Chapter Quizzes 30% of total course grade (may be taken multiple times) Mid Term Exam 35% (open book, taken online); covers Ch. 1-6 Final Exam 35% (monitored by proctor, need photo ID); covers Ch EGLS3 Evaluation for Greater Learning Student Survey System: At Houston Community College, professors believe that thoughtful student feedback is necessary to improve teaching

3 and learning. During a designated time near the end of the term, you will be asked to answer a short online survey of research-based questions related to instruction. The anonymous results of the survey will be made available to your professors and department chairs for continual improvement of instruction. Look for the survey as part of the HCCS Student System online near the end of the term. Distance Education and/or Continuing Education Policies Access Student Services Policies: Access Distance Education Policies: The Distance Education Student Handbook contains policies and procedures unique to the DE student. Students should have reviewed the handbook as part of the mandatory orientation. It is the student s responsibility to be familiar with the handbook s contents. The handbook contains valuable information, answers, and resources, such as DE contracts, policies and procedures (how to drop, attendance requirements, etc.), student services (ADA, financial aid, degree information, testing procedures, technical support, and academic calendars. Refer to the DE Student Handbook by visiting this link: Last day to drop: Oct. 5, 2016 To Prepare for the State Licensing Exam: For students who wish to prepare for the state of Texas Real Estate Licensing Exam, we recommend that you use an exam prep book such as Texas Real Estate Exam Prep from Cengage Learning. This book/cd combination is stocked by the HCC Bookstore at the 5601 West Loop location, and is also available from the publisher at ISBN-13: Also, HCCS is offering an Exam Prep course. Check semester schedule for times. Complete Orientation. Student log-in is located on HCCS Home Page in upper right hand corner. Syllabus is subject to revision if needed. Student Help in Canvas: hccs.edu/online From 8 AM- 11 PM. Course Schedule: Week One Read the Syllabus and Course Calendar. Navigate the course. Read chapters 1, 2, 3, and 4. Take chapter quizzes multiple time. The highest score will be kept and the total will count as 25% of the total course grade. These practice quizzes are a great way to study for the Mid Term and Final Exams. Week Two Read Chapters 5, 6, and take the Mid Term Exam (open book, online).read Chapter 7. Week Three Read Chapters 8, 9, and 10. Week Four Read Chapters 11 and 12. Practice the Final Review and chapter quizzes. Take final at the HCCS W. Loop location. See calendar for dates and times offered. TREC Outline RELE 2201 Law of Agency

4 Agency Concepts Disclosure of Agency; relationship between Principal and Agent What is Agency? The License Act Statute & Rules Roles People Play in Agency Relationships Client or Customer? Why Study Agency Relationship between Principal & Agent Basic Agency Relationships, Disclosure and Duties to the Client Relationship between Principal & Agent; Authority of Agent Agency Defined Authority of Agent Classifications of Agency Fiduciary Duties and Responsibilities Information About Brokerage Services Disclosure of Representation Duties and Disclosures to Third Parties Fiduciary and Other Duties of an Agent Non-Fiduciary Duties

5 General Duties of Honesty & Fairness Define Third Party/Obligations to Third Party Avoiding Disclosure and Misrepresentation Problems Section of the Texas Property Code (Seller s Disclosure) Stigmatized Properties Seller Agency Disclosure of Agency; Listing or Buying Representation Procedures Listing Agreements Exclusive Seller Agency Benefits of Seller Agency Relationships Sub Agency Disclosure Issues Buyer Agency Disclosure of Agency; Listing or Buying Representation Procedures Buyer Representation Agreement Deciding to Represent the Buyer The Creation of Buyer Agency Benefits of Buyer-Agency Relationships Written Notification of Compensation to Broker Buyer s Broker Disclosures Representing More than One Party in a Transaction: Intermediary Brokerage Listing or Buying Representation Procedures; Agency Disclosure The Path from Dual Agency to Intermediary Brokerage Representation of More than One Party in a Transaction Intermediary Brokerage Specialized Intermediary Applications Intentional versus Unintended Dual Representation Creation and Termination of Agency

6 Termination of an Agent s Authority How and When Agency is Created How Agency is Terminated Duties of Agency that Survive Termination Clarifying Agency Relationships Disclosure of Agency Disclosure Policy Understanding a Brokerage Company s Policy Employment Issues Employment law Independent Contractor Agreements Employment Law Employment Relationships between Brokers and Principals Employment and Compensation of Personal Assistants Relationships between Brokers and Agents Compensation Issues Agency, Ethics, and the Law An Agent s Duties; including fiduciary duties Distinctions between Law, Ethics, and Morals Federal and State Law Relating to Conduct TRELA and Rules of the Commission (Ethics) Professional Codes of Ethics Minimum Ethical Standards Deceptive Trade Practices and Consumer Protection Act Deceptive Trade Practices Fraud versus Misrepresentation Deceptive Trade Practices and Consumer Protection Damages

7 Defenses Ethical and Legal Concerns Implementation and Presentation The Broker Working for/with the Seller The Broker Working for/with the Buyer A Practical Guide to Everyday Practice Other Considerations Risk Management