Mississippi Real Estate Continuing Education (CE)

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 one's 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.

NOTE: This course is approved for 2 Hours Mandatory and 2 Hours Elective Credit

COURSE DESCRIPTION

Clear, mutually-acceptable agreements are an essential component of the legal transference of ownership. In the practice of real estate, contracts are the instruments used to describe and record the agreements surrounding the conveyance of property. Some type of contract is nearly always involved, whether a salesperson is promising to sell a property within a specified period of time, a prospective buyer is placing an offer on a house or a seller is considering an offer on property.

Before entering into a legally binding agreement, real estate professionals must fully understand the contracts that govern their industry. Failure to understand contracts opens a licensee to various kinds of liability and can seriously damage one's professional reputation. Therefore, it is vital that real estate professionals learn this material so that they can protect themselves against errors, oversights and misunderstandings.

In this module you will learn about the types of general contracts as well as the different kinds of real estate contracts. The module provides the student with an overview of the various types of contracts: bilateral, unilateral, implied, express, executed, executory, valid, void, voidable and unenforceable. Once the student is introduced to the different types of contracts, he or she learns what makes a contract legally enforceable, this being the five components that make a contract valid: mutual assent, legally competent parties, consideration, lawful objective and adherence to a statute of frauds. This module includes the following lessons:

* Types of Contracts
* Features of a Legally Valid Contract
* Contract Fulfillment
* Real Estate Contracts

The fifth and concluding lesson in this module presents real-world dilemmas and concrete applications of the information presented in the rest of the course. As the student completes this module, he or she should try to develop a broad picture of environmental issues and how they fit into the larger practice of real estate; the last lesson will help with this project by presenting comprehensive content questions, practice problems and case studies.

LEARNING OBJECTIVES

Upon completion of this module, the student will be able to:

# Name and explain the various components of a valid contract.
# Identify the differences between a unilateral and bilateral contract.
# Describe the various types of contracts.
# Recognize the difference between a forbearance and performance agreement.
# Outline the features of a contract (and the contracting parties) that make a contract legally binding.
# Recognize the general features of a completed contract.
# Identify when a contract can be discharged.
# Recognize the different kinds of real estate contract

This course covers major environmental hazards. Licensees need to familiarize themselves with environmental issues because they have a responsibility to disclose to buyers any information that might affect their decision to buy. Environmental hazards can dramatically affect a property's value, so buyers, sellers, lenders and licensees all can be affected by them. This course includes the following lessons:

* The Indoor Environment
* The External Environment
* Legislation
* Disclosure and Site Assessment
* Real Estate Practice

Students will learn throughout this course to identify internal and external environmental issues. They will learn about health hazards, environmental legislation, liability and responsibility for cleanup and protection. They will also learn about actions they should take and how issues affect licensees and lending. Licensees are not expected to be environmental experts, but in this course students will acquire a competency with environmental issues which will help them to elucidate issues for buyers, sellers and lenders. Knowledge of environmental issues also will help protect them from charges of nondisclosure.

The conclusion of this course presents real world dilemmas and applications of the information presented. As the student completes this course, he or she should try to paint a big picture of environmental issues, which the course will address with comprehensive content questions, practices and case studies.

This course covers the standards of conduct and ethical judgment by addressing the different concepts that contribute to ethical business practices. This course will introduce the student to ethics and morals by defining both terms in order to distinguish differences between the two. The student will also learn the four approaches to ethical decision-making; therefore, after learning the Articles and Standard Practices of the NAR® Code of Ethics, the student will be able to use the model identify any violations of the Code. This course addresses the following topics:

• Definition of Ethics and Morals
• The Four Approaches to Ethical Decisions
• Articles in the Code of Ethics
• Using the Model for Ethical Decision-Making
• Basics of the Professional Standards Enforcement Process through the Local REALTOR® Board of Association
• More Risk Management in Action to Improve Business
• Real Estate Practice

This course will include seven lessons. Lesson One will introduce the concept of ethics and morals. Lesson Two will introduce four approaches to making ethical business decisions and a model for ethical decision making. Lesson Three will present an overview of the NAR® Code of Ethics including the concept of aspirations within the Pre-Amble and the Articles and Standard Practices in the NAR® Code of Ethics. In Lesson Four, participants will use case studies to apply the model for making ethical decisions, which includes using the four approaches to business ethics while utilizing the NAR® Code of Ethics. Lesson Five focuses on ethics complaints, arbitration and mediation. Lesson 6 will conclude the course with a discussion of unethical conduct, antitrust laws and violations of antitrust laws and professional and ethical business practices.

Lesson 7 will conclude the course with a presentation of real world situations and applications of the information presented. As the student completes this course, he or she should try to paint a big picture of the code of ethics, which the course will address with comprehensive content questions, practices, and case studies.