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Law of Agency-RELE 2301
Course Description 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 representation procedures, and the disclosure of agency.
Course Syllabus
Law of Agency-RELE 2301
Houston Community College System
Professor: Frankie Jefferson
(936))228 0347 (with voicemail)
frankjeff@aim.com
Class #/Days: 5601 West Loop South Campus Tues and Thurs, 6-10 p.m.,
#88665
Office hours: Thursdays 10am to 2pm 5601 West Loop.
Out of respect for the educational environment, and courtesy toward your professor and classmates, please turn off and put away any electronic devices such as cell phones, pagers, email, etc. If you are expecting an emergency call, please clear it with the professor in advance.
This course provides three semester hours of college credit and forty-five hours of classroom credit. It is a core real estate course and is required by the Texas Real Estate Commission to make application for a Salesperson’s License.
HCCS Real Estate Department Website: http://swc2.edu.rele
Text: Texas Real Estate Brokerage and Law of Agency by Charles J. Jacobus and George C. Stephens,2008- 2009 Edition. It may be purchased at HCCS bookstores or online at http://hccs.bkstore.com
Audience:
Individuals who need hours as part of the requirements to acquire a real estate license, who need hours toward a degree or certificate of achievement, or to understand the basics of the real estate profession.
Course Description
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 representation procedures, and the disclosure of agency.
End-Of- Course Outcomes
Identify reasons for suspension or revocation of real estate license; illustrate ways in which agency relationships can be created and terminated; describe the fiduciary relationship that exists between an agent and his principal; explain the Deceptive Trade Practices Act as it affects the real estate agent and the duties and obligations of the client, customer, and agent; distinguish between dual agency and intermediary relationships; and explain the mandatory Sellers Disclosure of Property Condition form. (WECM)
Student Learning Outcome (WECM)
- Exhibit a knowledge of principal-agent relationships
- Demonstrate an understanding of the termination of an agent’s authority, and other duties of an agent
- Demonstrate “Problem-Solving Skills” (SCANS)
- “Interpret Acquired Information” (SCANS)
Evaluating Students:
. % of course grade:
Pop quizes: 25% Midterm exam (closed book) (Chapters 1-10): 25%
Final exam (closed book) (Chapter 1-15): 50%
You must pass the final exam to pass the course.
A=90-100% B=80-89% C=70-79% D=60-69% Below 60%= F
Tardiness:
The Faculty Handbook states that the College System does not have a policy on students arriving late to class but that instructors may impose any sanction that they feel appropriate. Since the real estate commission requires full attendance in approved courses, any tardiness will be considered as similar to absences and will require make up as determined by the instructor.
Academic Honesty
All grade material submitted in fulfillment of course requirements must be original work of the student claiming credit for it. Students guilty of knowingly using, or attempting to use, another person’s work as though that work were their own and students guilty of knowingly permitting or attempting to permit, another student to use their work, will earn a grade of “F” for the course. There are several software programs that quickly detect plagiarism.
Students’ Rights and Responsibilities
Each student is responsible for knowing the policies and regulations of the college. Information pertaining to student rights and responsibilities can be found in the most recent the Student Handbook at www.hccs.edu, “Current Students”.
Grievances
First, Attempt to work out the problem with your instructor. If you are unable to resolve the problem, contact the Real Estate Department.
ADA Syllabus Statement:
The Office of Students with Disabilities at HCC reminds faculty that they are required to include the following statement on all their class syllabi: Any student with a documented disability (e.g. physical, learning, psychiatric, vision, hearing, etc.) who needs to arrange reasonable accommodations must contact the Disability Service Office at the respective college at the beginning of each semester. Faculty is authorized to provide only the accommodations requested by the Disability Support Services Office.
For questions, contact Donna Price at 713-718-5165 or the Disability Counselor at your college. To visit the ADA Web site, log on to www.hccs.edu, click Future Students, scroll down the page and click on the words Disability Information.
District ADA Coordinator- Donna Price- 713-718-5165
Central ADA Counselors- John Reno- 713-718-6164 / Martha Scribner- 713-718-6164
Northeast ADA Counselor- Kim Ingram- 713-718-8420
Northwest ADA Counselor- Mahnaz Kolaini- 713-718-5422
Southeast ADA Counselor- Jette friis- 713-718-7218
Southwest ADA Counselor- Dr. Becky Hauri – 713-718-7910
Coleman ADA Counselor- Dr. Raj Gupta- 713-718-7631
Student Conduct:
Appropriate adult behavior is expected. Disruptive behavior or activities, which interfere with the teaching and learning, will not be tolerated, and may result in an administrative withdrawal without refund.
Attendance and Absences:
The College System policy on absences is stated in the Student Handbook and the Faculty Handbook. Instructors may drop students with excessive absences.
Making Up Absences
Since the Texas Real Estate Commission requires full attendance in licensing courses, any absences must be made up by attending another HCC real estate licensing course for the required number of hours. The student must get a signed and dated note from the make-up professor and bring it to this professor. All make-up notes must be turned in by the last day of class, or the student will receive an Incomplete in the course.
The student is also urged to get a copy of the class notes from another student.
HCC Course Withdrawal Policy
The State of Texas imposes penalties on students who courses excessively. Students are limited to no more than SIX total course withdrawals throughout their educational career at a Texas public college or university.
To help students avoid having to drop/ withdraw from any class, HCC has instituted an Early Alert process by which your professor may “alert” you and the counselors that you might fail a class because of excessive absences and/ or poor academic performance. Contact your professor regarding your academic performance or a counselor to learn about helpful HCC resources (e.g. online tutoring, child care, financial aid, job placement, etc.).
In order to withdraw from your class, you must first contact your professor, PRIOR to the withdrawal deadline to receive a “0” on your transcript. After the withdrawal deadline has passed, you will receive the grade that you would have earned. Zeros averaged in for required coursework not submitted will lower your semester average significantly, most likely resulting in a failing grade of an “F”. It is the responsibility of the student to withdraw from the class; however, your professor reserves the right to withdraw you without your request due to excessive absences. However, please do not contact both a counselor and your professor to request a withdrawal; either one is sufficient.
Classes of other duration (mini- term, flex- entry, 8-weeks, etc.) may have different final withdrawal deadlines. Please contact the HCC Registrar’s Office at 713-718-8500 to determine those withdrawal deadlines.
Student Services
ADVISING AND COUNSELING SERVICES
Counselors can assist students with admissions, registration, entrance testing requirements, degree planning, transfer issues, and career counseling. In- person, confidential sessions, can also be scheduled to provide brief counseling and community referrals to address personal concerns impacting academic success.
INTERNATIONAL STUDENTS
Please contact the International Student Office at 713-718-8520 if you have questions about your visa status.
AMERICANS WITH DISABLITIES ACT (ADA) COMPLIANCE
Any student with a documented disability (e.g., physical, learning, psychiatric, vision, hearing, etc.) who needs to arrange reasonable accommodations must contact the Disability Support Services Office (DSSO) of their respective college at the beginning of each semester. Faculty is authorized to provide only the accommodation(s) requested by the DSSO. For information and services at HCC Southwest, contact Dr. Becky Hauri, ADA Counselor, at 713-718-7910.
SEXUAL HARRASSMENT
It is a violation of HCC policy for an employee, agent, or student of the College to engage in sexual harassment as defined in the Equal Employment Opportunity Commission (EEOC) guidelines. Any student who has a complaint concerning this policy has the opportunity to seek resolution of such a complaint in accordance with procedures set forth in the student Handbook. Report any complaints immediately to College Administration or call the Institutional Equity & Compliance Office 713-718-8271.
CLASSROOM CONDUCT
Student in HCC courses are required to follow all HCC Policies & Procedures, the Student Code of Conduct, the Student Handbook, and relevant sections of the Texas Education Code when interacting and communicating with faculty and fellow students. Students who violate these policies and guidelines will be subject to disciplinary action.
USE OF CAMERAS OR RECORDING DEVICES
Use of recording devices, including camera phones and tape recorders, is prohibited in classrooms, laboratories, faculty offices, and other locations where instruction, tutoring, or testing occurs. Students with disabilities who need to use a recording device as a reasonable accommodation should contact the Office for Students with Disabilities for information regarding reasonable accommodations.
Agency Course Schedule and Reading Assignments
Note: Chapters are covered in a different order from that in the book. For best learning, complete the assigned reading before class.
Week #1
Chapter 1 Introduction
Thursday 6-7:00 p.m., lab, website assignment #1
Discuss website assignment
Chapter 2 Creation of the Agency Relationship
Week #2
Role-Playing Exercise
Chapter 9 IBS, Buyer Agency, Single Agency
Chapter 10 Intermediary
Thursday 6-7:00 p.m., lab, website assignment #2
Chapter 3 Fiduciary Responsibility: General and Special Agency
Chapter 4 Fiduciary Obligation: Duty of Care to the Principal
Week #3
Chapter 5 Obligations to Third Parties
Chapter 6 DTPA, Fraud, Real Estate Recovery Fund
Chapter 7 Termination of Agency
Chapter 8 Practicing Law and Real Estate Brokerage
Week #4
Midterm Exam, followed by a reading assignment
Chapter 11 Federal Legislation (RESPA, SEC, TIL, environmental)
Week #5
Chapter 12 Federal Legislation (ADA, Fair Housing, Antitrust)
Chapter 13 Federal Legislation (RICO, Flood Ins., Copyright)
Chapter 14 Employment (listings, buyer representation agreements)
Week #6
Chapter 15 Agency Risk Control
Final Exam Law of Agency Lecture Notes—Types of Agency
Remember: Agency rests in the (sponsoring) Broker
Buyer Agency--The broker (“other broker” or “selling broker”) is representing only the buyer. A different broker is probably representing the seller.
Seller Agency—The broker (“listing broker”) is representing only the seller. A different broker is probably representing the buyer.
Intermediary—One broker is representing both the buyer and the seller. Two different salespersons may be involved, but they both work for the same broker. They all must abide by the Intermediary rules set forth in The Real Estate License Act, or they will probably be in common law dual agency.
common law dual agency—One broker is representing both the buyer and the seller, and does not abide by the Intermediary rules set forth in TRELA. This kind of agency is very risky, and generally occurs by mistake. It is “common law” because TRELA makes no reference to it.
Single Agency—The broker is willing to represent either the buyer or the seller, but not both in the same transaction.
Sub-Agency—This was the old form of agency typically done in the past in which both brokers represented the seller; no one represented the buyer.
Midterm Exam Hints-Law of Agency
The Canons of Professional Ethics-know articles and content
Fiduciary
Types of Agency handout, plus class notes on agency types: Sub-Agency, Buyer Agency, Seller Agency, Intermediary, common law dual agency, and Single Agency
Agency disclosure
Which actions require a real estate license? Who is exempt?
Gratuitous agency
Ways to create agency
To whom is the broker ultimately responsible?
Caveat emptor
ADA
Latent defect
Successful defenses against charges of misrepresentation
General agency/Special agency
Stigma handout—what does/does not have to be disclosed?
DTPA, purposes of, laundry list, who can be a “consumer” under DTPA?
Cameron v. Terrell & Garrett—what did it establish?
What is the broker’s “safe harbor” from DTPA lawsuits?
Reasons for an agent to renounce (cancel) agency
Reasons for a seller or buyer to revoke (cancel) agency
What terminates agency
Supervening illegality
Referral fees
Thank you gifts
Real Estate Recovery Fund
Unauthorized practice of law
The Broker-Lawyer Committee
TREC Promulgated Forms
What forms can a licensee legally use?
What changes can a licensee make on the promulgated forms?
To whom can a broker pay part of a commission?
From whom can a licensee accept compensation?
Requirements to sue for a commission
Final Exam Hints in addition to Midterm Hints
Types of Listings
Buyer Representation Agreements
Commissions
Federal Endangered Species Act, Wetlands legislation
Fair Housing, Steering
RESPA
FIRPTA
Federal Truth in Lending
Lead-based paint
Price-fixing
WEB SITES OF REAL ESTATE INTEREST
US GOVERNMENT
www.hud.gov US Dept. of Housing and Urban Dev. www.va.gov Department of Veteran Affairs
www.ftc.gov Federal Trade Commission
www.hud.gov/fha/sfh/res/respa_hm.html Real Estate Settlement Procedures Act
www.fairhousing.com/ National Fair Housing Advocate
www.epa.gov Environmental Protection Agency (EPA)
www.scorecard.org/ Air Pollution Sites
www.whitehouse.gov The White House
STATE OF TEXAS
www.trec.state.tx.us The Texas Real Estate Commission
http://recenter.tamu.edu Real Estate Center at A & M
www.capitol.state.tx.us/statutes/statutes.htm Texas Laws
www.capitol.state.tx.us/statutes/pptoc.html Texas Property Code
www.texasonline.com Texas Government e-Services (records- birth-death)
www.talcb.state.tx.us Texas Appraiser Licensing & Certification Board
www.sml.state.tx.us Texas Mortgage Broker Regulation
www.cpa.state.tx.us Window on State Government (school data)
LOCAL SITES
www.hcad.org Harris County Appraisal District
www.ftbendcc.org/ Fort Bend Chamber of Commerce
www.tax.co.harris.tx.us Harris County Tax Collector (autos, voter registration, etc)
MORTGAGE INFORMATION
www.homepath.com Fannie Mae’s Home Buying
www.rate.net An Index of Loan Rates
www.eloan.com Internet Mortgage Information
REALTOR ASSOCIATIONS
www.realtor.com National Association of Realtors
www.tar.org Texas Association of Realtors
www.har.com Houston Association of Realtors
MAPS
http://terraserver.microsoft.com Satellite Maps
www.mapquest.com Maps and Trip Planner
http://maps.yahoo.com Maps and Trip Planner
www.mapblast.com Maps and Trip Planner
NEWS
www.inman.com Inman News Service
www.frogpondgroup.com Real Estate News and Information
www.realdata.com Real Estate News and Information
www.realtytimes.com Real Estate News and Information
www.homes.com Home Search
www.nytimes.com Washington Post
APPRAISAL AND DATA SITES
www.loopnet.com Listing of Commercial Properties
www.caci.com Demographics
www.digitalcity.com Demographic information
www.census.gov U S Census Bureau Information
ORGANIZATIONS
www.alta.org American Land Title Association
www.appraisalinstitute.org Appraisal Institute
www.boma.org Building Owners & Managers Assn. www.naahq.org National Apartment Association
www.nareb.org National Assn. of Real Estate Brokers
www.idrc.org Industrial Real Estate
www.irem.org Institute of Real Estate Managers
www.nahb.org National Association of Home Builders
www.ccim.org Commercial Investment Institute
www.uli.org Urban Land Institute
www.treta.org Texas Real Estate Teachers Assn. www.reea.org Real Estate Educators Association
CLIP ART
www.presentersuniversity.com Presentation Information and Tutorials
www.wilderpresentations.com Presentation Information and Tutorials
www.presentationpro.com Presentation Information and Tutorials
www.indezine.com Presentation Information and Tutorials
www.soniacoleman.com Presentation Information and Tutorials
www.digitalartware.com Presentation Information and Tutorials
www.photoshare.com Presentation Information and Tutorials
www.eclipsed.com Clipart
www.clipart.co.uk/ Clipart
MISCELANEOUS
www.gallup.com Gallup Polls
www.geocities.yahoo.com Free Web Page
www.homestead.com Free Web Page
www.realtown.com Real Estate Software
www.translator.go.com Translate English to another language www.digitalcity.com Demographic information
FORECLOSURE SITES
www.fore.com Foreclosure Listing Service
www.homesales.gov/homesales/mainAction.do government foreclosures
http://houstonforeclosureinfo.com foreclosure info, also other states
www.brucebates.net Bates Foreclosure Report
www.bankhome.net Foreclosure.Net
www.4close.com Foreclosure Online
www.all-foreclosure.com All Foreclosure Information
www.homesteps.com Freddie Mac’s REO Site
www.fanniemae.com/home/indexhtml FNMA
www.bank.com Bank of America REO Site
www.hud.gov/local/suns HUD/FHA
www.bta.va.gov/bln/loan/home.htm VA
www.treas.gov/action/custom Treasury Dept. Seizures
FLOOD INFORMATION
www.efloodmap.com flood info
http://maps.tsarp.org/viewmaps flood info (Trop. Storm Allison)
http://www.fema.gov flood info
www.choicetrust.com CLUE report: HO insurance claims
(costs $19.50)
CRIME, STIGMA
http://records.txdps.state.tx.us/default.cfm lists of registered sex offenders
www.openrecords.org/records/sexual offenders/texas/ same
www.ci.houston.tx.us/department/police/stats.htm crime statistics
Website Assignment #1: Consumer Looking for a House
Student Name: __________________________
Thursday , go directly to the lab and complete this assignment. Promptly at 7:00 come to our regular classroom to discuss this exercise.
You are a consumer looking for a house. Go to www.HAR.com and do the following exercise:
1. Whose website is this? ___________________________________
2. From the home page, select Find a Home. You are now on the Consumer Site. Select Single Family Homes, Custom Search.
On the left, where it identifies areas, choose 9 Central North. Click to look at the map that shows you that area. Then go back to Custom Search.
3. In Custom Search, make the following selections:
$100,000 to $200,000 price range
4+ bedrooms
2+ baths
2000 square foot minimum
2 car garage
sort by price--ascending
Search.
4. How many listings came up? ______________
5. What is the highest list price? _____________________
6. What is the lowest list price? ______________________
On the lowest priced property, fill in the following blanks:
Number of bedrooms:
Number of bathrooms:
Key map page:
Stories:
Square footage of house
Lot size
Year built
Website Assignment #1,
Click on Photo Gallery, view all images.
Website Assignment #2: Problems and Stigma
Student Name:_________________________
Thursday , go directly to the lab and complete this assignment. Promptly at 7:00 come to our regular classroom to discuss this exercise.
Address of Property Evaluated: ____________________________ ____________________________
Choose a property address to evaluate. It can be your home, a relative’s, or some other address. Using the websites listed under “Problems and Stigma” on the list attached to your syllabus, evaluate the property’s status.
l. Where is the property with regard to the flood maps?
2. How close is the nearest registered sex offender?
3. What is the status of the property in terms of crime statistics?
4. Describe what you gained by doing this website exercise:
Enlarge a photo, then close that window.
Click on view details—what additional information does it give?
Can you find the restaurant guide and see the nearest restaurants?
7. Find properties on the list that have virtual tours. Look at the virtual tours and the Photo Galleries.
As a consumer, what do you think are the advantages and disadvantages of the photo gallery and the virtual tour? Does it help to have both?
Spend the rest of your time until 7 p.m. exploring the HAR website.
Can consumers find out a lot of information before they call a realtor?
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