Contracts for the Newly Licensed - "J" (Hybrid)

Description

Contracts for the Newly Licensed
Topic “J” | 3.0 Hours
Required for agents licensed after October 1, 2023 on their first renewal.

A strong understanding of contracts is essential to a successful real estate career. This course is designed specifically for newly licensed real estate professionals seeking to build confidence and competence in preparing, reviewing, and managing real estate contracts. 

Participants will explore the fundamental principles of contract law and their application in residential real estate transactions. The course covers the essential elements of a valid contract, the offer and acceptance process, buyer and seller considerations, contract validity and discharge, breaches of contract, required disclosures, and the proper use of Maryland REALTORS® forms and addenda. 

Special emphasis is placed on common contractual issues encountered by new licensees, including multiple offers, financing contingencies, earnest money deposits, inspections, disclosure requirements, amendments, releases, and avoiding the unauthorized practice of law. Attendees will also review current form updates and emerging industry hot topics impacting real estate transactions. 

Upon completion, students will be better equipped to navigate contract negotiations, identify potential risks, ensure compliance with Maryland law, and guide clients through the transaction process with greater confidence and professionalism. 

Learning Objectives 

By the end of this course, participants will be able to: 

• Identify the essential elements required to create a legally enforceable real estate contract. 
• Explain the processes of offer, counteroffer, acceptance, and contract formation. 
• Distinguish between valid, void, and voidable contracts. 
• Recognize common causes of contract discharge and breach. 
• Understand disclosure requirements and contingency provisions affecting residential transactions. 
• Properly utilize Maryland REALTORS® contracts, addenda, and transaction forms. 
• Apply best practices when working with various ownership entities, including estates, trusts, and business organizations. 
• Avoid activities that may constitute the unauthorized practice of law. 
• Navigate compensation, earnest money deposit, and contract termination issues in accordance with current industry standards. 

This practical, real-world course provides newly licensed REALTORS® with the contractual foundation necessary to protect their clients, reduce liability, and facilitate smoother transactions from contract to closing.

Instructor: Maryland REALTORS 

Cancellation Policy - Cancellation requests must be submitted to Coastal Association of REALTORS® in writing via email to info@coastalrealtors.org at least twelve (12) hours prior to the scheduled class start time.

Registrants who do not attend a complimentary class and fail to provide the required advance written notice will be considered a no-show and will be invoiced for the standard tuition fee associated with the class.

CAR may cancel courses due to low registration up to two days prior to the date of the class. In the event that CAR must cancel a course, all those who paid for registration will issued a refund.