This course includes broad issues and describes the procedures for measuring the total square footage of detached single-family homes and multifamily gross building areas. The methods employed will standardize the calculation process and enable the users of this information to obtain accurate and reproducible measurements for total gross living area of residential properties. The student will learn how to treat the finished areas above and below grade, finished living area above the garage, and the unfinished areas within the structure. The standard will allow individuals and organizations to agree and cooperate in communicating these square footage quantities to users for this information.It includes the following lessons:American National Standard for Single-Family Residential Buildings Measurement and Calculation Appraisal Values The Appraisal Process Uniform Standards of Professional Appraisal Practice Valuation Analysis Summary and Other Guidelines Critical Thinking Questions and Case Studies

The content of this two-hour course will provide an in-depth review of license law with a focus on the most common license law violations. Through this update, two outcomes can be achieved:

• The licensee becomes more familiar with license law and utilizes the law to determine parameters for specific behaviors.

• The consumer is better served by a more knowledgeable licensee, resulting in fewer complaints to the Commission.

This two-hour course contains individual online exercises and short quizzes.

Topics Covered

• Trust account deposit requirements 
• Trust account requirements for rental property
• Misrepresentation defined
• Types of  misrepresentations
• Material facts defined
• Responsibility to disclose material facts
• Identifying material facts when purchasing a property
• Stigmas to Property
• Violating a buyer’s freedom of choice
• Seller incentives
• Buyer’s freedom of choice
• Rules regarding payments to unlicensed persons
• Rebating a portion of the commission
• Duties of licensee regarding disclosure
• Agency Disclosure Brochure
• Duties of licensee regarding dual agency and designated agency
• Licensee’s acting in the dual capacity of agent and undisclosed principal
• Disclosure of the agent’s licensure
• Wrongful interference with the contract of another
• Inducing a party to break a contract
• Situations in which licensees receive fees from more than one party in the transaction
• Achieving informed consent
• Dual contracting defined
• Mortgage fraud

Learning Objectives

•  Identify key issues that could result in disciplinary action
• Recall trust account guidelines and state depository requirements
• Define misrepresentation and name common misrepresentations regarding the property, the purchaser, and the seller
• List facts that could be considered material in a transaction and differentiate between a material fact and a stigmatization to property
• Discuss how a buyer’s freedom of choice in selecting outside service providers could be violated
• State rules regarding payments to unlicensed persons and name prohibitions
• Define “substantive contact” and “a meaningful explanation of agency” and determine the timing of the presentation of the agency disclosure documents
• Determine when licensees must disclose their licensed status and state how those disclosures are to be accomplished
• Differentiate between dual and designated agency and determine the timing and the presentation of the appropriate forms
• Discuss scenarios in which a licensee could be charged with inducing a consumer to break a contract
• Name situations in which licensees may receive fees from more than one party in a transaction, and determine how “informed consent” to receive the fees can be achieved
• Discuss when a dual contracting situation exists and how it should be avoided
• Determine which behaviors are in violation of license law and state the reasoning for each judgment
• Locate the website of the South Carolina Real Estate Commission for future updates

Short Quizzes after each section with a 70% pass rate

Real Property Ownership and Land Use

Welcome to the South Carolina Real Estate Commission’s mandatory core course. This course will provide an in-depth review of license law, along with a defined focus in the areas of agency representation, agent diligence, and agent duties.

Liens, Taxes and Foreclosures

Provider Approval #0238 / Course Approval #03-00-053-18144

Asset Management is the term used for the decision-making process involved in maximizing returns on real property investments. This process includes such decisions as whether or not to renew a lease for a tenant, purchase or lease more assets, improve, sell or rent ones current assets, etc. The asset manager must be aware of market trends and indicators and must be able to accurately predict the cash inflows and outflows of his or her own holdings. This course provides an introduction to the basics of asset management. It introduces the student to the key ideas and concepts of management as well as the techniques a manager will use to evaluate the market and evaluate the financial impact of alternatives in order to make properly informed decisions. The student will learn how to handle distressed properties and how to successfully market a revenue-increasing strategy. The course ends with case studies and real world practice, which will aid the student in becoming confident and familiar with the various aspects of asset management.