Buyer's Agency: How We Got Here and New Requirements

General Information

• Approved Credit Hours: 3 hours
• State: New Jersey
• Course Availability: 365 days from enrollment
• This is a Core Course

Course Description

This course unpacks the dramatic shifts reshaping buyer representation in real estate, driven by high-profile lawsuits and industry-wide changes. From the evolution of commission structures to the latest National Association of REALTORS® settlements, you'll gain a deep understanding of how these developments are redefining the way agents work with buyers. By exploring the history of agency relationships and the new rules around buyer-broker compensation, you'll be fully prepared to navigate-and excel in-this changing landscape.

You'll also dive into the practical side of how these changes impact day-to-day operations, learning how to navigate the evolving legal and ethical landscape. With a focus on real-world applications, this course equips you with the strategies to adapt your business model, enhance client service, and remain competitive as the market shifts. You'll leave with the insights and tools to stay ahead of the curve, ensuring your success in a rapidly transforming industry.

Course Topics

This course will cover the following key areas:

Unit 1: Real Estate Agency and Buyer Representation

• The concept of agency in real estate and the various types of agency relationships

• The evolution of state laws and industry practices affecting agent responsibilities and ethical obligations to buyers and sellers

• Agency disclosure requirements in real estate transactions

Unit 2: The Buyer Broker Compensation Upheaval

• Background and legal significance of the Moehrl v. National Association of Realtors lawsuit

• Background and legal significance of the Burnett v. National Association of Realtors lawsuit

Unit 3: Looking Forward

• The impact of recent court rulings and settlements on real estate industry practices

• Adaptation of real estate business models to create more flexible and varied consumer experiences

• The now-mandatory negotiable nature of commissions

• The effects of the Sitzer-Burnett v. National Association of Realtors verdict on buyer-broker compensation and commission structures

• Key components of the 2024 National Association of Realtors Settlement Agreement

Learning Objectives

At the completion of this course, students will be able to:

• Define the concept of agency in real estate and explain the various types of agency relationships
• Analyze how changes in state laws and industry practices have reshaped the responsibilities and ethical obligations of real estate agents towards buyers and sellers
• Describe the background of the Moehrl v. NAR and Burnett v. NAR lawsuits
• Analyze the components of the 2024 NAR Settlement Agreement
• Outline the impact of recent court rulings and settlements on real estate practices
• Apply your understanding of the now mandatory negotiable nature of commissions

A full list of objectives may be found within the course.

Instructor & Customer Support

For questions about the course content, please contact the Instructor.

Course Instructor: John Wheeler
Contact Information: john@onlineed.com
Instructor Availability: Monday-Friday, business hours, excluding holidays
Instructor Policy Response Time: within 1 business day
 
If you have questions about your account or course navigation, please contact the course provider:

OnlineEd
Phone: 1-(503)-670-9278
Email: mail@onlineed.com
Chat and additional options: https://www.onlineed.com/system/pages/contact.php

Completion & Attendance Requirements

Completion Requirements. Continuing education credit is awarded upon successful completion of all required course components and satisfaction of regulatory active time requirements.

Time Monitoring: This course require a minimum participation time for course completion. You must remain actively logged in until the required time has elapsed before credit can be awarded. The course platform electronically monitors active participation. Time tracking will pause during periods of inactivity. You may exit and return to the course at any time. Your progress will be saved.

Assessments

Each unit will end in a multiple-choice quiz to test your knowledge. Quizzes require a score of at least 70% to proceed to the next unit. You can take quizzes as many times as needed.

There is no final exam at the end of the final unit of this course.

Course Completion Survey

Students must submit a survey upon completion of the course. This short survey helps us improve the course material and student experience. It is required by most regulatory agencies. Your thoughtful feedback is appreciated.

Certificates & Credit Reporting

Upon successful completion of all course requirements, a certificate of completion will be issued.  You are responsible for maintaining a copy of your certificates of completion and renewing your license with the state regulator. 

Your course completion credit will be automatically uploaded to your education profile at PSI to allow for license renewal application.

Technology Requirements

Courses may be accessed from a computer, tablet, or mobile device with a stable internet connection.  We recommend the most recent browser versions.  This includes all modern browsers and operating systems including Microsoft Edge, Google Chrome, Mozilla Firefox, Apple Safari, Opera, iPhone / iOS, and Android-based mobile devices, smartphones, and tablets. The course is entirely web-based and does not require any software to be downloaded or installed.  For accurate time tracking and progress recording, access courses in one browser window at a time. 

Course Prerequisites

There are no prerequisites for this course.

Refund & Cancellation Policy

All tuition and fees paid for the course are refundable when: (a) the course of instruction is discontinued by OnlineEd and such discontinuation has prevented a student from completing the course; or (b) the enrollment of the student was procured as a result of any misrepresentation in promotion materials of the school, or representation made by an owner or employee of the school. All refunds will be completed within 30 days after the effective date of enrollment termination. Refunds will not be given to any student after the student has successfully registered in a course or courses, as once registered, student has access to the registered courses. In hardship cases, OnlineEd may issue a refund at its sole discretion. OnlineEd does not issue retroactive partial refunds for courses that are subsequently discounted or put on sale after a student makes a purchase.

Academic Integrity and Identity Verification

Students must complete all coursework independently. OnlineEd prohibits misrepresentation of identity or allowing another individual to complete coursework on your behalf. Failure to comply with academic integrity policies may result in denial of credit.

Student Conduct Policy

Students are expected to show respect, courtesy, and consideration when interacting with school staff and students. Students are expected to conducting themselves in a professional, legal, and cooperative manner that is not disruptive, harassing, intimidating, or dangerous. Deviation from these standards may result in disciplinary action.

Non-Discrimination Policy

OnlineEd does not discriminate for admission on the basis of race, color, religion, sex, sexual orientation, national origin, marital status, age or disability. Any person who feels they have been unlawfully discriminated against may file a complaint with the School Director, either by email (schooldirector@onlineed.com) or by postal mail (ATTN: School Director, 14355 SW Allen Blvd. Suite 240, Portland, OR 97005). If OnlineEd determines that any employee of OnlineEd has engaged in discriminatory activity, such employee shall be disciplined.

Grievance Policy

If a student has a grievance against OnlineEd, its staff or students, the aggrieved student shall contact the School Director by email or mail, stating the nature of the grievance. The School Director shall evaluate the grievance and respond to the student based upon their findings.

Policies on Cheating and Misrepresentation

Cheating on courses that supply completion certificates, designations, or official credit is not tolerated. OnlineEd is not obligated to continue to furnish credit or continued support for students caught cheating on any part of the coursework or testing.
 
Misrepresentation of personal identity is strictly forbidden for all OnlineEd courses. Falsifying personal information, forgery, and misrepresentation may result in immediate suspension. Additional actions by state and federal agencies may include loss or suspension of a license, failure to grant a license, fees, or criminal prosecution.

Publisher

This course is developed and delivered by OnlineEd, LLC.

OnlineEd, LLC
14255 SW Allen Blvd., Suite 240
Portland, OR 97005
(503) 670-9278
https://www.OnlineEd.com/
mail@OnlineEd.com

Mission Statement

To provide superior distance education that exceeds industry standards and expectations in course content and delivery methods to those who seek to enter a new profession and those engaged in a profession.