Annual Commission Update (CREC Update): This is the required one! Description varies by year. (4 hours)
Broker Relationships (3 hours): TB or not TB, that is the question! What is the difference between a Transaction Broker and Agency relationship? Are there differences in services, behavior, the guidance provided? This class dives into the real meaning of both relationships, as well as how we interact with a customer.
Clauses That Kill (3 hours): We’re all busy and in a hurry, but sometimes in the rush, we write bad language. We’ll take some time to outline how a good clause is constructed, not just in the Contract to Buy and Sell, but also in our Counterproposals, Amends/Exdtends, Inspection Objections and Resolutions, not to mention when do we cross that fine line of practicing law. Let’s write Contracts for success instead of failure!
Contracts: Nuts & Bolts (2 hour version): Looking for a quick refresher and overview of some of the Contract hot spots? We will touch on the trouble spots that open us to risk, as well as some “best practice” tips to reduce problems.
Contracts: Back to Basics (3 or 4 hour version): Back to the basics! No matter how long you’ve been in the business, it’s always good to have a refresher. How many Contracts are there? (Hint – more than one!) Do you know all the ways a Buyer can get out of a Contract? How about a Seller? Who’s responsible for those Deadlines? What are the areas of risk? What happens in an Earnest Money Dispute? We will cover these subjects and more!
Contracts: A Detailed Look (6 hours): In this class, we go in great detail through the sections and blanks of the Contract to Buy and Sell, in addition to reviewing the differences in the five types of Contracts available. And what Contracts class would be complete without talking about risk reduction!
Contracts – Keep Your Wallet Out of the Deal and Yourself Out of Trouble (3 hours): Are you tired of everyone looking to you when the numbers don’t add up, or when one party doesn’t perform as they should and you are expected to make it right? Protect your checkbook by writing a better, stronger Contract right from the start! We will discuss the top five hot spots in the Contract that are costing us money….and shouldn’t be. Additionally, we’ll review some “best practice” tips to keep you on the good side of your clients and the Colorado Real Estate Commission! Think you have it under control just because there were no changes this year? Let’s assess: How many ways can a Buyer get out? How many ways can a Seller get out? How many Deadlines self-destruct the Contract? How many Deadlines have built-in remedies if missed? What happens if the lender’s wire isn’t at Closing = DEFAULT! We will cover a number of ways to reduce your risk in the transaction, and better yet, keep your wallet out of the deal! This is an in-depth review of the “hot spots” of the Contract!
Contracts – The Lender’s Lair (3 hours): As Brokers, we complete the Contract, but typically fail to consider some of the other players in the game. Many sections of the Contract directly impact the lender, including the Buyer’s name, Inclusions, Earnest Money, Deadlines, Concessions, and let’s not forget the Inspection Resolution! Let’s write Contracts for success, instead of setting them….and our Buyers….up for problems and/or failure. We will also address our role with the lender, so as a team we can reach the Closing table!
Contracts – Title Tales of Terror (3 hours): As Brokers, we complete the Contract, but typically fail to consider some of the other players in the game. Many sections of the Contract directly impact the Closing Company, including Earnest Money, Association Documents, Record Title, Survey and Prorations. How can we write a Contract for success, instead of a dozen Amend/Extends? What exactly should we look for in a Commitment and Closing docs? What is our responsibility vs. the Closing Company’s? This and much more will be discussed!
D-Day: Dates and Deadlines (2 hours): Line by line in Section 3.1, we’ll review the ‘why’ behind each deadline. Some dates are promises to perform, and some dates are rights of one of the parties. As Brokers, our role is to describe the pros, cons and risks of these dates (especially in a multiple offer scenario), and the impact it may have on the parties involved. We’ll also highlight corresponding Sections of Contract to Buy and Sell, and review Section 3.2 (Deleted, Not Applicable and blank means corresponding section is omitted).
Disclosures – Forms, Fights and Fraud (3 hours): Failure to disclose has become a big concern. Brokers have an obligation to disclose all known material facts regarding a property, brokerage relationships, and more! Keep yourself out of trouble by taking this course!
How to Play With Other People’s Money….You Don’t! (2 hours): Learn the ins and outs and everything in between when it comes to Earnest Money. We’ll take an in-depth look at Section 4.3 of the Contract to Buy and Sell, review delivery of Earnest Money, discuss pros, cons and risks in regard to the handling of Earnest Money and the Earnest Money Holder, requirements of the Earnest Money Holder (e.g. timeframe to deposit, records, bookkeeping), and of course, the exciting Earnest Money Dispute process in Section 24.
Inspection Objections and Resolutions that Kill the Deal (2 hours): Write your Inspections Resolutions for success instead of failure! Commission Position Statement #43 addresses the proper way to handle Inspection objections. Besides the importance of wording the agreement carefully, equally critical is addressing any issues with the lender. And don’t forget, the lender gets a copy!
Listing Contracts: Let’s fill out our Listing Contracts for success instead of additional problems and risk! We’ll do an in-depth review of both the Exclusive Right to Sell and the Exclusive Right to Buy Listing Contracts, and we’ll highlight numerous risk-reducing tips. (3 hours)
Listing Contracts and Forms from Head to Toe (6 hours): We’ll dive into both the Exclusive Right to Sell and Exclusive Right to Buy Listing Contracts line-by-line, in addition to reviewing the various disclosures that accompany a real estate transaction. The Listing process and “best practice” tips will also be discussed.
Multiple Offers (3 hours): In a market experiencing multiple offers, Brokers need to be on top of their game! It may seem great for Sellers, but there is also great risk and stress. For Buyers, there are many strategies that they may choose to utilize, but they too involve tremendous risk. We will review the pros and cons of the strategies that Sellers may employ (eg: Coming Soon, showing windows), as well as those strategies that Buyer may use (eg: Deadlines, escalation clauses). Our role as the Broker is to educate the decision maker so they may make an informed decision….that they hopefully feel good about.
Myths of Real Estate (3 hours): Over the decades, we’ve created all kinds of myths in our business! Ever heard the “threshold rule” equals procuring cause? How about that you can’t help a customer in a transaction because you have no relationship? No need to mention an issue on a property if it’s already been fixed? Or how about that you can’t mention commissions in the Contract?
NAR Ethics Update (4 hours): The National Association of Realtors along with the local association require all REALTORS to attend an Ethics Update. We’ll review any changes to the Code of Ethics, review some of the “most abused” Articles of the Code, and best of all – we’ll learn from those who have volunteered to be case studies!
Open Houses – Safety + Smarts = Success (1 hr CE, 2 hr class): There’s much more to open houses than networking! When is it necessary to provide the Brokerage Disclosure of relationships? What about disclosures regarding material defects? And let’s not forget the importance of following safety tips while you’re there.
Procuring Cause – Whose Money Is It Anyway? (2 hours): Procuring cause is perhaps one of the most complex, misunderstood subjects in our industry. It MAY or may NOT be – who showed the home, who informed the Buyer of the home, who has the Exclusive Right to Buy Listing Contract, who wrote the Contract…..getting an idea for how complicated it is? In this class, we will dive into examples and case studies examining the mysterious topic of procuring cause!
Risk Reduction (3 hours): Real estate = risk, no doubt about it. So as a Broker, how can we reduce our risk and liability? Often times, Brokers bring on additional risk and liability without even realizing it! We will review what a Broker’s responsibilities are, as well as some important strategies we can employ to avoid and reduce our risk.
What’s New In Forms and Contracts? (3 hours): The latest and greatest! Are you familiar with the changes to the Contract to Buy and Sell and Closing Instructions that came out July 1, 2019? And 2020 changes (including new forms) are BIG and ready to roll out as well, so let’s cover it all in one class! The Colorado forms committee reviews CREC approved Contracts, Disclosures and Forms every year to ensure they are in the public’s best interest. As Brokers, part of our realm of expertise includes knowing all of these documents, so let’s make a habit of taking a Contracts class at least once a year! You can count on changes and/or new forms every year, so get prepared for 2020. We’ll not only review what’s new, but we’ll also address methods to reduce risk.
PROPERTY MANAGEMENT SPECIFIC CLASSES (offered by Bev Perina)
Emergency Preparedness for Home, Office and Rentals
In light of the recent emergencies we have faced here in Colorado: wild fires, a tornado and floods, I have developed this class to help you to prepare your home, office and rental properties should an emergency arise. I will go through the steps to PREPARE, RESPOND, MITIGATE AND RECOVER. I have prevention checklists for home and office, suggested emergency preparedness kits, determining to stay in place or evacuate and examples of disasters to prepare for. I will also share with you some forms I have developed to facilitate preparation and completion when you must respond to one of your rental properties. (2 hours)
Finding Great Residents and Marketing
This class will cover where to find residents. We will look at strategies like web sites, Craigs list, papers, sign in the yard, referrals, and so on. We will cover pre-screening over the phone or email and an example of my application including a qualifying criteria cover sheet. The scoring system we use in determining if someone will be able to lease with or without condition and a brief overview of the importance of running the applicants credit. If the applicant is approved but with condition they may need to pay a double deposit or need a lease guarantor form, an example of which is included. If they are denied, an example of that form will also be covered and why. There will also be a hand out with an example of my scoring system in qualifying a prospective resident. (2 hours)
Lease Assignment & Roommate Transfers
This class defines the process of the lease assignment, when all of the residents move out prior to the end of their lease and how to help facilitate finding a replacement resident. We will cover in detail an example of my Lease Assignment form and the steps to take to make the process as smooth as possible. We will also be covering the process of the roommate transfer, when one roommate moves out of the property prior to the end of their lease. We will go over an example of this form in detail to also make this transition a smooth one. (1 hour)
Leasing Boot Camp
This is a basic training class for new and experienced leasing professionals, to compliment your policies and procedures. In this fast paced class we will cover telephone and email techniques, marketing, showing properties, fair housing, overcoming objections, the art of closing, qualifying and the application process, credit reports and denials. (1 hour)
This class will cover the process of renewing existing leases and the time line. Figuring out the new renewal rent rate and the process of doing so. Contacting the investor for written permission to renew or not and at what rate for the current resident or if the property becomes vacant. Determining who will and will not be received. Request from the housing authority for rent change form. Renewal packet to the resident to include a Renewal Cover Letter, cost of moving worksheet, the renewal form filled out with the rent rate and any written changes you make to the current lease agreement and a blank notice to vacate form. We will cover renewal incentives, pitfalls to avoid at renewal time and forms. (2 hours)
Maintenance Requests & The Vendor Contract
This class will cover taking maintenance work requests and in what form (written, verbal or email), routine or day to day maintenance, writing work orders, the four categories of maintenance: routine, preventative, emergency and move out turnover. The second half of this class covers the Vendor contractor agreement highlighting insurance and taxes, employees, resident contact, scheduling, keys, preventative maintenance, work orders, job site care, utilities and lock boxes, OSHA, Lead Based Paint and Bio Hazards, behavior and appearance, invoices and payment cycle, default and remedies, fair housing and terms and forms. (2 hours)
Mini Moving Residents & Security Deposit Returns
This class is a much more simplified version of the 3 hour class and will cover steps to take when you receive a Notice to Vacate. It will include information on the move out packet such as the Move out Notice work sheet, “Makeready” spread sheet, move out cover sheet, cleaning sheet, moving letter to the resident and a property preview worksheet. We will go into detail of the steps when preparing to move a resident out and the assessment of improvements needed. What to do when a move out does not go smoothly and writing up work orders from the move out inspection. The second part of this class will cover the time line for returning the security deposit and how you prepare to do that. Mailing the security deposit vs having the resident pick up at your office. The pitfalls of having an investor hold the security deposit. What to do if the resident owes more than the deposit you are holding, the Security Deposit Dispute form and what to do when you transfer the security deposit to a new owner or new management company. Not all of the forms from the 3 hour class will be included in this mini version. (1 hour)
Mini Policies and Procedures
This class is a very brief overview of my two day, 12 credit hour Policies and Procedures class. The first part will cover office structure: mission statement and company goals, employment status, record keeping and benefits, payroll, work operations and hours, signs, lockboxes, keys, leave of absence policy, conduct and communication. The second part will cover procedures: getting new accounts, advertising and marketing, showing properties, the application process, leases, rent collections and evictions, maintenance requests, lease renewals, lease assignments, moving residents and notice to vacant procedures, security deposit returns, general accounting and job descriptions. Some forms will be included. (2 hours)
Moving Residents & Security Deposit Returns
This class will cover steps to take when you receive a Notice to Vacate. It will include information the move out packet such as the Move out Notice work sheet, “Makeready” spread sheet, move out cover sheet, cleaning sheet, moving letter to the resident and a property preview worksheet. We will go into detail of the step when preparing to move a resident out and the assessment of improvements needed. What to do when a move out does not go smoothly and writing up work orders from the move out inspection. The second part of this class will cover the time line for returning the security deposit and how you prepare to do that. Mailing the security deposit vs having the resident pick up at your office. The pitfalls of having an investor hold the security deposit. What to do if the resident owes more than the deposit you are holding, the Security Deposit Dispute form and what to do when you transfer the security deposit to a new owner or new management company and forms. (3 hours)
New Investor, Properties and Residents
This class will cover taking on new accounts. From the first contact with a new investor you will use the New Investor Card to take information about the investor, the property and their goals. We will go over the presentation folder which includes the following: an example of my management agreement, the Real Estate Commission Exclusive Right to List Leased property, property data work sheet, quality assurance standards form, and example of and income and expense statement, the Real Estate Commission approved Landlord Lead Based Paint disclosure and W-9. We will also cover the property transfer check list and new property introduction letter to the current residents. There will be a discussion about adding new properties to existing accounts and whether on not to provide a service of only leasing the property vs full service management. (2 hours)
New Resident Move in & The Lease
This class will cover tenancy types, the new resident lease packet which includes the new resident information worksheet and an example of the lease agreement. We will go over the example of the lease agreement line by line covering rent collection, term, use of the property, agency disclosure, utilities, rules and regulations, improvements & property care, maintenance & repairs, Notice to Vacate & hold over, lease assignment, move in check list & move out inspection, eviction & abandonment, security deposit & normal wear and tear defined, lead based paint disclosure, keys, pets, and additional provisions you may want to add in writing. The lease packet also includes the mandatory lead based paint pamphlet, mailing labels, utility transfer sheets, Resident Handbook, Maintenance work request forms, maps, coupons & other promotional handouts, the Move in Condition Check list, and Agency Disclosure to Residents and
forms. (3 hours)
Vendor, Contractor and /or Independent Contractor Agreement
This class covers the Vendor contractor agreement highlighting insurance and taxes, employees, resident contact, scheduling, keys, preventative maintenance, work orders, job site care, utilities and lock boxes, OSHA, Lead Based Paint and Bio Hazards, behavior and appearance, invoices and payment cycle, default and remedies, fair housing and terms. (1 hour)