BIC: Broker in Charge

Broker in Charge

OREC Course #188774 • 15 HR BIC CE Credit

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Course Description

This course provides a comprehensive overview of real estate brokerage regulations, practices, and leadership principles essential for brokers' success in the industry. It meets the required 15-hour continuing education requirement for all Managing Brokers, Branch Brokers, and Broker Associates. Covering topics such as broker responsibilities, advertising regulations, contracts and forms, trust accounts, property management, fair housing, investigations, disclosures, and leadership, this course aims to provide comprehensive insights into key areas of real estate brokerage.

Objectives

The objective of this 15-hour continuing education course is to equip Managing Brokers with advanced knowledge and practical solutions in real estate brokerage. Through a comprehensive exploration of regulations, best practices, and leadership strategies, Managing Brokers will enhance their ability to effectively manage their brokerage operations, mitigate risks, and lead their teams to success.
  1. Real case studies and solutions demonstrating complex scenarios and challenges faced by Managing Brokers in real-world brokerage operations.
  2. Relevant legal documents, statutes, and regulations pertaining to real estate brokerage in Oklahoma.
  3. Interactive exercises and simulations to reinforce learning and practical application of concepts.
  4. Access to OREC Online Portal and other relevant online resources for reference and examination of regulatory requirements.
  5. Course workbook containing summaries, checklists, and additional resources for ongoing reference and implementation.
By the end of the course, Managing Brokers will have gained a deeper understanding of their responsibilities, mastered effective advertising strategies, honed their contract negotiation skills, established sound trust account management practices, enhanced their property management expertise, navigated investigations and complaints procedures, ensured compliance with disclosure requirements and developed leadership capabilities essential for success in the real estate brokerage industry.

Course Outline

Section 1: Broker Responsibilities (2 Hours)  

    1. OREC Online Portal and License Code
    2. Understanding Oklahoma Statutes and Definitions
    3. Broker Relationships and OREC Rule Definitions
    4. Residential Property Condition Disclosure Act
    5. License Type Requirements and Legal Entities
    6. Broker Supervision and Errors & Omissions Insurance
    7. Commissions, Associates' Activities, and Broker Absence
    8. Continuing Education and License Renewal Procedures

Section 2: Advertising Regulations (2 Hours)  

    1. Understanding Advertising & Marketing in Real Estate
    2. OREC Advertising Code & Rules
    3. Business Trade Names and Licensee Team Names
    4. Team Advertising and Marketing Strategies
    5. Compliance Checklist and Advertising Best Practices

Section 3: Disclosures (2 Hours)  

    1. Broker Relationships, Duties, and Limited Service Agreements
    2. Disclosures in Transactions and Following Termination
    3. Beneficial Interest, Compensation, and Residential Property Disclosures

Section 4: Contracts & Forms (3 Hours)  

    1. Prohibited Acts, Misrepresentation, and Dealings
    2. Real Estate Transaction Checklist and Backup Offers
    3. Conditional Offers, Negotiation Strategies, and Contract Release
    4. Understanding Bonafide, Rescinded, and Cancelled Contracts
    5. NAR Settlement; the DOJ’s involvement & history of commission
    6. Mastering Buyer Broker Agreements

Section 5: Trust Accounts (2 Hours)  

    1. General Requirements and Duty to Account
    2. Trust Accounts Management and Record Retention
    3. Commissions, Transfers, and Errors in Trust Accounts
    4. Handling Excess Funds, Checks, and Unclaimed Property

Section 6: Property Management (3 Hours)  

    1. Understanding Leasing and Tenant Rights
    2. Fair Housing Review, Accommodations for ESA
    3. Landlord Disclosures and Best Practices
    4. Case Studies and Broker Oversight Checklist

Section 7: Investigations (2 Hours)  

    1. Suspension/Revocation, Complaint Procedures, and Penalties
    2. Causes for Suspension or Revocation of License
    3. Complaint Hearings, Notice, and Administrative Fines

Section 8: Leadership (1 Hour)  

    1. Understanding Leadership Potential and Onboarding Practices
    2. Contractor vs. Employee Considerations
    3. Leadership To-Do List and Onboarding Checklist

Course Conclusion & Assessment

A final assessment will be conducted to ensure an understanding of key concepts covered in each section. Upon successfully passing the assessment, participants will receive a certificate of completion.

BRA: Broker Relationship Act

Broker Relationship Act 101

Presenting Value to Your Clients

OREC Course #198553 • 1 HR BRA CE Credit

Course Description

This course will provide a review of the history of Agency and the current Oklahoma Broker Relationship Act as amended in 2013. Through lectures, readings, and hands- on exercises, students will develop a strong foundation in elevating their role and value to their clients within the legal responsibilities of the broker relationship. This course is designed for real estate professionals and those interested in entering the field.

Objectives

This course will provide a review of the history of Agency and the current Oklahoma Broker Relationship Act as amended in 2013. Through lectures, readings, and hands- on exercises, students will develop a strong foundation in elevating their role and value to their clients within the legal responsibilities of the broker relationship. This course is designed for real estate professionals and those interested in entering the field.

Course Outline

Duties & Responsibilities: 40 Minutes

    1. Duties that can be waived
    2. Duties that cannot be waived
    3. Can you waive client confidentiality? Duties that survive the transaction

The Value of Communication: 20 Minutes

    1. Building Rapport
    2. Uncovering motivation
    3. Questions to qualify
    4. Role Play: Unmotivated sellers & the cost
    5. Why have an agreement with Buyers?
    6. Anti-trust and the DOJ

CAR: Code & Rules

Crack the Code

Mastering the Oklahoma Real Estate Commission’s Rules & Regulations

OREC Course #190183 • 3 HR CAR CE Credit

Course Description

This course is designed to provide real estate professionals with a comprehensive understanding of the OREC Code and Rules. Through interactive learning activities, case studies, and discussions, learners will explore the key elements of the OREC Code and Rules, their significance in real estate practice, and the impact of recent changes in the industry. This course covers brokerage relationships, disclosure requirements, advertising rules, property management, and ethical standards. In addition, learners will examine the legal implications of non-compliance with the OREC Code and Rules, and develop strategies to avoid violations.

Objectives

This course is designed for real estate professionals who are actively licensed as residents and non-residents of Oklahoma, including broker associates, sales associates, and property managers. Upon completion of this course, learners will be equipped with the knowledge and skills necessary to comply with the OREC Code and Rules and provide high-quality services to their clients. This course also satisfies Oklahoma's continuing education requirements for real estate professionals.

Code Evolution

Unpacking the Latest Changes to the Oklahoma Real Estate Commission Code & Rules

OREC Course #190184 • 1 HR CAR CE Credit

Course Description

This course is designed to provide real estate professionals with a need-to-know understanding of the latest OREC Code and Rules changes, including all current and past changes made between 2020 and 2022 by the Oklahoma Real Estate Commission. In addition, learners will examine the legal implications of non-compliance with the OREC Code and Rules, and develop strategies to avoid violations. Students will explore the key elements of the OREC Code and Rules, their significance in real estate practice, and the impact of recent changes in the industry.

Objectives

Students will be able to demonstrate an understanding of the OREC Code and Rules, including all current and past changes made between 2020 and 2022, and apply this knowledge to their practice as licensed real estate professionals in Oklahoma. Overall, this course aims to equip learners with the knowledge and skills necessary to operate in compliance with the OREC Code and Rules and to provide a foundation for ongoing professional development in the field of real estate.

CON: Contracts

Presenting the OREC Listing Agreement

OREC Course #190181 • 1 HR CON CE Credit

Course Description

This course is designed to allow students to demonstrate a thorough understanding of the purpose and structure of the OREC Exclusive Right to Sale Listing Agreement, including the meaning and purpose of every paragraph and clause. Through analysis of case studies, students will also gain an understanding of the consequences of failing to present the agreement in its entirety when sending it for electronic signature.

Objectives

This course aims to equip learners with a comprehensive understanding of the OREC Exclusive Right to Sale Listing Agreement, and the knowledge and skills necessary to present it effectively to clients and operate in compliance with legal and ethical standards.

Course Outline

Listing Agreement

    1. Presentation of Agreement
    2. Purpose
    3. Acknowledgment
    4. Duration
    5. Compensation
    6. Seller Agrees
    7. Residential Property Condition Disclosure Act
    8. Lead-Based Paint
    9. Hold Harmless
    10. Seller Authorizes Brokerage to
    11. Broker Duties & Responsibilities
    12. Liable
    13. Forfeited Earnest Money
    14. Acknowledgement
    15. Multi-Listing System (MLS)
    16. Subsequent Offers
    17. Lockbox
    18. Existence of Offers
    19. Residential Service Agreement (RSA)
    20. Flood Hazard Area
    21. Other Conditions

For MLSOK Members

    1. 3.9 Coming Soon Listings
    2. 3.10 Exempted Listings
    3. 7.3 Dual or Variable Rate Commission Arrangements

Current Events

    1. Solving Problems for Consumers
    2. Inventory
    3. iBuyer & Wholesale
    4. Property Trades
    5. Upside-Down Equity & Forbearance Option

Mastering Buyer Broker Service Agreements

Effectively Presenting & Negotiating Agreements for Real Estate Professionals

OREC Course #190182 • 1 HR CON CE Credit

REGISTER FOR THIS COURSE ❯

Course Description

This course covers the purpose and structure of buyer broker service agreements, disclosure requirements, negotiation strategies, and conflict resolution techniques. Learners will also examine case studies to gain a practical understanding of the issues that can arise from the lack of presenting the agreement or buying process, and develop strategies for addressing these issues in a professional and effective manner.

Objectives

Upon completion of this course, learners will be equipped with the knowledge and skills necessary to confidently present and negotiate buyer broker service agreements with clients and operate in compliance with legal and ethical standards. This course is suitable for real estate professionals of all experience levels, including brokers, salespersons, and agents.

Course Outline

Buyer Broker Service Agreement

    1. Presentation of Agreement
    2. Purpose of Brokerage
    3. Buyer's Acknowledgment
    4. Duration of Agreement
    5. Compensation of Broker
    6. Cost of Services or Products Obtained from Outside Sources
    7. Other Buyers
    8. Equal Opportunity
    9. Additional Provisions
    10. Counterparts
    11. Copy of Agreement

For NAR Members

    1. 6.4 Prohibition on Advertising Services as "Free"

Current Events

    1. NAR & MLS Structure
    2. Negotiation of Commission
    3. Current Lawsuits

Conditional Conquerors

Mastering Supplements & Backup Offers

OREC Course #190185 • 1 HR CON CE Credit

Course Description

This course is designed to provide real estate professionals with a comprehensive understanding of the legal terms and implications of conditional offers made by buyers. Through analysis of the OREC-provided documents provided in their index, students will gain a practical understanding of the issues that can arise during the conditional offer process, and develop strategies for addressing these issues in a professional and effective manner. Students will also engage in practical exercises to reinforce their understanding of the legal terms involved in conditional offers.

Objectives

This course is designed to provide real estate professionals with a comprehensive understanding of the legal terms and implications of conditional offers made by buyers. Through analysis of the OREC-provided documents provided in their index, students will gain a practical understanding of the issues that can arise during the conditional offer process, and develop strategies for addressing these issues in a professional and effective manner. Students will also engage in practical exercises to reinforce their understanding of the legal terms involved in conditional offers.

Course Outline

Supplements

Backup Offers
    1. Listing Strategy: When to Use
    2. Buyer Strategy: When to Use
    3. Backup Offer Supplement
Conditional Offers
    1. Conditioned on Sale: Presently Not Under Contract
    2. Conditioned on Sale: Presently Under Contract
    3. Domino Transactions
    4. Negotiation of Occupancy
Contract Void & Release
    1. Release of Contract & Disbursement of Earnest Money
Bonafide, Rescinded, Cancelled, Oh My!
    1. Bonafide
    2. Rescinded
    3. Cancelled

Index of Documents

    1. Disclosure of Brokerage Services (Jan 2023)
    2. Listing Agreement (Jan 2023)
    3. Buyer Broker Service Agreement (Jan 2023)
    4. Backup Supplement (Jan 2023)
    5. Conditioned on Sale: Presently Under Contract
    6. Conditioned on Sale: NOT Under Contract (Jan 2023)
    7. Condition Removal Notification (Jan 2023)
    8. Notice of Cancellation (Jan 2023)
    9. Standard Clauses (Jan 2023)

FHR: Fair Housing

Fair Housing Evolution
for 2023 & Beyond

OREC Course #198554 • 1 HR FHR CE Credit

Course Description

This course will provide an overview of real estate industry's current and past fair housing guidelines. Students will learn how to properly advertise and communicate with verbal and non-verbal cues to ensure they are evolving beyond the sociological boundaries to which they have become accustomed. They will be empowered to support consumers in making informed decisions about buying and selling real estate without discriminatory bias. This course is designed for real estate professionals and those interested in entering the field.

Objectives

This course will provide an overview of real estate industry's current and past fair housing guidelines. Students will learn how to properly advertise and communicate with verbal and non-verbal cues to ensure they are evolving beyond the sociological boundaries to which they have become accustomed. They will be empowered to support consumers in making informed decisions about buying and selling real estate without discriminatory bias. This course is designed for real estate professionals and those interested in entering the field.

Course Outline

A Review of Fair Housing

    1. Federal Fair Housing: Section 802
    2. Key phrases & definitions
    3. New Language

State of Oklahoma Fair Housing: HUD in OK

    1. Protected Classes
    2. What is prohibited
    3. Case Study: November 2022
    4. Discrimination is more than words

HOT: Hot Topics

Marketing Systems 101

Nurturing Clients

OREC Course #198556 • 1 HR HOT CE Credit

Course Description

This course will provide an overview of your best source of business with the people you know, like, and trust in your everyday life. This is known as your sphere/circle of influence, prospecting, lead, and client funnels in the real estate industry. The course will cover a range of topics, including the potential value of your sphere, and the missing revenue calculator. Students will develop a strong understanding of a relationship-driven real estate business through lectures, readings, and hands-on exercises. They will gain the skills to apply this knowledge in their professional lives. This course is designed for real estate professionals and those interested in entering the field.

Objectives

To understand the best source of business regarding the people you know, like and trust in your everyday life with how they express their current needs with learning to invest, buy and sell real estate. Students of this course will leave with a new system of success when communicating with their personal sphere.

Course Outline

Your Best Source of Business: 25 minutes 

1. Terminology2. Your Database Funnel3. The potential value of your sphere4. Missing revenue calculator 

The 5 Qualities of a Successful Marketing Plan: 15 Minutes 

1. Phone Call touches: Option 1 - Weekly Name Groups2. Phone Call touches: Option 2 - Calling by number of calls per day3. Scripts & Topics of Conversation4. Call Logging & Follow up 

Email Touches: 20 Minutes 

1. Qualities of Successful, Attention-Grabbing Email Newsletters2. Designing Your Newsletter & Content3. Structure of an Email Newsletter 

Direct Mail Touches: 30 Minutes 

1. Sphere vs Farm (prospect) Content2. Budgeting for Direct Mail3. Postcard topic & Vendor Planner4. Evidence of Success Postcard5. Evergreen Content 

Happy Birthday & Home Anniversary: 10 Minutes 

1. Leverage Social Media 

Sphere Touch Planner: 20 Minutes 

1. Build your own sphere touch planner

The Budget of a
Real Estate Practitioner 101

OREC Course #198572 • 1 HR HOT CE Credit

Course Description

This course will provide an overview of the financial aspects of running a real estate practice, including income and expenses. Students will develop and implement a budget plan that allows for financial stability and growth. They will learn to monitor and track budget performance, identifying areas of over- or under-spending. This will empower them to make informed decisions about financial matters, such as purchasing property or investing gin marketing efforts. This course is designed for real estate professionals and those interested in entering the field.

Objectives

This course will provide an overview of the financial aspects of running a real estate practice, including income and expenses. Students will develop and implement a budget plan that allows for financial stability and growth. They will learn to monitor and track budget performance, identifying areas of over- or under-spending. This will empower them to make informed decisions about financial matters, such as purchasing property or investing gin marketing efforts. This course is designed for real estate professionals and those interested in entering the field.

Course Outline

The General Ledger Chart of Accounts: 30 Minutes

    1. Income Types
      1. Listing
      2. Sales
      3. Leasing
      4. Referral
      5. Property Management
      6. Team Income
    2. Coding Inventory & Assets
    3. How and where to categorize expenditures for tax purposes

Determining hard costs: 30 Minutes

  1. Figuring your Cost of Sale; when can you share commission, with who, and different brokerage/team/support role models
  2. Shared commission revenue projections
  3. Figuring your operational expenses
  4. Identifying cost as a percentage of income
  5. Figuring return on investment with advertising expenses

Client Consultations 101

OREC Course #198573 • 1 HR HOT CE Credit

COMING SOON

Real Estate Marketing Stats 101

OREC Course #198574 • 1 HR HOT CE Credit

Course Description

This course will provide an overview of current and past market trends in the real estate industry. Students will learn how to analyze and interpret data on demand, supply, and pricing in order to support consumers with making informed decisions about buying and selling real estate. The course will cover a range of topics, including economic indicators, demographic trends, and local market conditions. Through lectures, readings, and hands-on exercises, students will develop a strong foundation in real estate market analysis and gain the skills to apply this knowledge in their professional lives.This course is designed for real estate professionals and those interested in entering the field.

Objectives

To gain an understanding of current and past market trends in the real estate industry, including changes in demand, supply, and pricing, and to learn how to analyze and interpret these trends to be competent with providing consumers data so they may make informed decisions about buying and selling real estate.

Course Outline

The Impact of the Real Estate Industry: 30 Minutes

    1. National Economic Driver
    2. 10 year Treasury & 30 year mortgage rates
    3. Oklahoma Economic Driver
    4. Gross State Product
    5. National Median Home Price
    6. Oklahoma Median Home Price

The Unprecedented Future: 30 Minutes

  1. Increase in Value 2000-2022
  2. Institutional Investors
  3. Current Forbearance, Short Sales, Foreclosures
  4. Inventory Trends: National vs Oklahoma
  5. Affordability Trends: National vs Oklahoma

Return on Investment
& Prospecting 101

OREC Course #198555 • 1 HR HOT CE Credit

Course Description

This course will provide an overview of branding versus marketing and advertising when promoting oneself or real estate brokerage while selling real estate. The course will cover a range of topics, including holding your activities and money accountable regarding leads and conversions ratios. Through lectures, readings, and hands-on exercises, students will develop a strong foundation in tracking their top three sources of business and return on investment with other lead sources. They will gain the skills to apply this knowledge in their accounting and financial tracking. This course is designed for real estate professionals and those interested in entering the field.

Objectives

To gain an understanding of return on investment in regards to advertising while operating a real estate brokerage. Real estate practitioners will be able to track their own personal data so they may make informed decisions about advertising, marketing and lead generation expenditures.

Course Outline

Branding vs. Marketing vs. Advertising: 20 Minutes

    1. Branding
    2. Marketing
    3. Advertising

Holding Your Activities & Money Accountable: 15 Minutes

  1. Leads = Conversion
  2. Results = Closings
  3. Activities = Where you spend Money = Cost of Sale

Holding Your Activities & Money Accountable: 25 Minutes

  1. Clients & Cost of Sale by Lead Source
  2. Tracking Results: Workshop
  3. Write your own script 

VA Loans

Serving Those Who Have Served

OREC Course #199351 • 3 HR HOT CE Credit

COMING SOON

Price it Right

OREC Course #198216 • 3 HR HOT CE Credit

COMING SOON

PSC: Professional Conduct

Simplifying RE Math 101

OREC Course #198575 • 1 HR PSC CE Credit

Course Description

This course is designed to introduce students to the basic math skills & financial terminology needed to succeed in the real estate industry. Topics covered will include different methods of determining property value and in-depth knowledge of financing terminology to support consumer understanding. Additionally, a thorough explanation of additional costs involved in homeownership including routine maintenance, pool maintenance, pre-paids, interest, property taxes, and hazard insurance. Through lectures, practice problems, and hands-on exercises, students will develop a strong foundation in real estate math and gain the skills to apply this knowledge in their professional lives. This course is suitable for students with no prior math experience, as well as those who want to review and refresh their skills.

Objectives

To develop a strong foundation in real estate math and gain the skills to apply this knowledge in professional settings, including the ability to choose the best method for obtaining accurate data in property value analysis, being able to concisely explain financing terminology and the costs involved in homeownership to consumers; and solve problems involving real estate math concepts.

Course Outline

Real Estate is a Math Business: 30 Minutes

    1. The Essential Numbers of Real Estate
    2. Comparables
    3. Comparative Market Analysis (CMA)
    4. Comparative Method
    5. Truth in Lending Act (TILA)
    6. Debt-to-Income Ratio (DTI)
    7. Down Payment
    8. Interest Rates
    9. Annual Percentage Rate (APR)
    10. Adjustable Rate Mortgage (ARM)
    11. Mortgage Insurance Premium (MIP)
    12. Private Mortgage Insurance (PMI)

The Household Numbers: 30 Minutes

  1. Hazard Insurance
  2. Utilities
  3. Average Maintenance Cost
  4. Pool Maintenance
  5. Homestead Election
  6. Veteran State Tax Waiver (Disability)
  7. Special Assessments
  8. Association Dues
  9. Government Notices Impacting Property & Surrounding Areas