14-hr Pennsylvania CE Package 2

The objective of this course is to teach the real estate professional how he or she can help clients in buying and selling property on a tax-favorable basis.

In accordance with TREC rules Sections 535.71 and 535.72D, the first two lessons of the course seek to provide a method of real estate purchase using pretax dollars and of growing the estate within a qualified product. We will discuss the application of current tax advantages of using both qualified and non-qualified tax products such as IRA’s, SEP IRA, 401k, Roth IRAs and charitable gift annuities. The use of these applications will provide the real estate professional with the opportunity to create a long standing and profitable relationship with his or her clients, as well as attracting a more sophisticated investor wishing to find an alternative to 1031 exchanges.

The final lessons of this module will explain the many important aspects of Internal Revenue Code Section 1031. The course will focus on the benefits of the 1031 exchange for the investor, licensed real estate agent/broker and other parties to the transaction. Upon completion of this course, the student will learn which properties qualify under Section 1031 and how to use the various types of 1031 exchanges to enhance the client’s position in the investment real estate market.

Agreement is an essential component in the legal transference of ownership. In real estate, contracts are the instruments by which agreements are reached for the conveyance of property. 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, some type of contract is involved.

In this Contracts course, the student learns about the types of general contracts as well as the different kinds of real estate contracts. The module begins by providing 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 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.