This course introduces the topics of Agency and Sales Contracts in practicing effective risk management. We will also discuss the Real Estate Consumer's Agency and Disclosure Act (RECAD), the RECAD-required disclosure form, and the Consumer Information Booklet. We will also learn about the various types of agency and brokerage relationships in Alabama, as well as the duties and responsibilities that apply to each.
Contracts, including the elements of a contract and the types of real estate contracts and agreements, are also discussed in this course. Students review primary elements and key clauses of sales contracts and learn how to handle transactions in which the licensee or their immediate family is the principal.