Real estate professionals can establish different types of real estate relationships with consumers, which are then associated with different level of service. The passage of the 2024 Real Estate Consumer Protection Enhancement Act is providing some new options (Designated Agency) and requirements (Written service agreements, Seller Disclosure Obligation for example)
The course will review the NJ business relationships, discuss the concept of designated agency, address the need for written service agreements, understand the difference between relationship and compensation. Fiduciary obligations will also be detailed, including the limitations of dual agency representation.
The course has been updated to include the relevant NJ Legislative changes effective Aug 1, 2024 (more specifically: definition of designated agency, the need for written service agreements, requirement for a seller property condition disclosure form.)
