NC Elective

Secret Agent: Confidentiality and Disclosure


Description
NOW APPROVED! Elective #3895 Join Debbie in the following discussion:

Are you an agent with secrets? Does your listed property have a nasty narrative--a suicide? ghost? grave in the back yard? Is there a zoning change in the future? or a hurricane in the property's past? Do you have disclose that a nuclear facility is a 45-minute drive away? Do you wonder what you must keep confidential and what you must disclose?

Consumers expect real estate professionals to know everything about every property in which they are interested. The public also has high expectations that the information they receive from brokers will be accurate and truthful and everything will be disclosed. No wonder that brokers express concern about the liability that they will have should they fail to accurately characterize a property or disclose its virtues or demerits!

This course provides information on the requirements imposed on real estate licensees regarding disclosure but also addresses the challenges of telling consumers the truth in a candid but also tactful way. Not only can a licensee be disciplined for misrepresenting information or failing to disclose material facts, but more than 60% of claims settled by errors and omission insurance carriers pertain to negligence, misrepresentation, and omission/failure to disclose.

Sometimes, issues about disclosure fall into a gray zone where it is the licensee’s judgment and ethical sensitivity that becomes the determinants regarding foreclosure. This course reviews important concepts about disclosure and confidentiality as well as specific issues related to material facts.

Here are the sections of material covered in this course:
SECTION 1: INTRODUCTION and HOUSEKEEPING
SECTION 2: MATERIAL FACTS
SECTION 3: THE PRACTICE OF DISCLOSURE
SECTION 4: CONSTRUCTION MATTERS
SECTION 5: ENVIRONMENTAL ISSUES
SECTION 6: STIGMATIZED PROPERTIES
SECTION 7: LAND USE
SECTION 8: MISC DISCLOSURES
SECTION 9: ETHICS AND DISCLOSURES
SECTION 10: REVIEW AND SUMMARY

Name of elective cou...: Secret Agent: Confidentiality and Disclo...

Content
  • Section 1: Introduction and Housekeeping
  • 1.1 Introduction from Debbie
  • 1.2 Video: How to navigate this course
  • 1.3 Course description
  • 1.4 Course objectives and goals
  • 1.5 Rules of engagement
  • 1.6 The instructor
  • Section 2: MATERIAL FACTS
  • 2.1 First, let's see what you remember
  • 2.2 What do you remember?
  • 2.3 Review your results
  • 2.4 Introduction video: What is a material fact?
  • 2.5 Customer versus client
  • 2.6 Video: The difference between client and customer
  • 2.7 Assignment: Review the WWREA brochure
  • 2.8 Video: Categories of material facts
  • 2.9 A little review quiz
  • 2.10 Video: Omission and misrepresentation
  • 2. 11 How do consumers view omission or misrepresentation?
  • 2.12 A little quiz omission or misrepresentation
  • 2.13 Video: Buyers accuse their agent
  • 2.14 Background of the Ummel case
  • 2.15 Analysis of the Ummel case
  • 2.16: A few questions about the Ummel case
  • 2.17 A little quiz on material facts
  • Section 3: THE PRACTICE OF DISCLOSURE
  • 3.1: Introduction to the practice of disclosure
  • 3.2 Video: Has this broker done his due diligence?
  • 3.3 Duty to discover
  • 3.4 Video: A broker's due diligence and red flags
  • 3.5 Using Google Earth to discover and disclose
  • 3.6 Go to Google Maps or Good Earth
  • 3.7 Discovery: Questions the listing broker should ask
  • 3.8 Common knowledge and material facts
  • 3.9 A little quiz on common knowledge
  • 3.10 Trust but verify
  • 3.11 Video: Broker Bill takes a listing
  • 3.12 What Bill should investigate...and possibly disclose
  • 3.13 Discovery: Questions the buyer broker should ask
  • 3.14 The role of the RPOAD Statement; caveat emptor; trust but verify
  • 3.15 How NOT to discover or disclose
  • 3.16 What if the broker is the seller-owner?
  • 3.17 Beware of "as is"
  • 3.18 A little review quiz on the practice of disclosure
  • Section 4: construction matters
  • 4.1 Introduction: Construction matters
  • 4.2 Construction matters: Chinese drywall
  • 4.3 Chinese drywall basics
  • 4.4 (optional) Audio: NPR program on Chinese drywall
  • 4.5 Hardboard siding
  • 4.6 Hardboard siding: The lawsuit
  • 4.7 Introduction: Manufactured versus modular buildings
  • 4.8 Differences between modular and manufactured homes
  • 4. 9 Manufactured versus modular: What a broker should know: #1
  • 4.10 Manufactured versus modular: what should a broker know; #2
  • 4.11 Manufactured versus modular: What a broker should know; #3
  • 4.12 Manufactured versus modular: An infographic
  • 4.13 What is PB Piping?
  • 4.15 What does the NCREC say about the disclosure of PB piping?
  • 4.16 Introduction: Pressure-treated lumber
  • 4.17 Video: CCA-treated wood
  • 4.18 Pressure-treated lumber: Is it a material fact?
  • 4.19 Video: Synthetic stucco
  • 4.20 Synthetic stucco: Litigation
  • 4.21 Video: Square footage
  • 4.22 A little review quiz on construction issues
  • Section 5: environmental issues
  • 5.1 Introduction: Environmental Issues
  • 5.2 Go to the EPA website
  • 5.3 Video: Lead-based paint
  • 5.4 What does the lead-based paint rule require?
  • 5.5 Introduction: Radon gas
  • 5.6 Radon: Are levels high in NC?
  • 5.7 (Optional) Video: Radon gas for real estate brokers
  • 5.8 Mold basics
  • 5.9 The impact of mold litigation
  • 5.10 What is meth? and who is Walter White?
  • 5.11 Selling a home where there has been drug activity
  • 5.12 Fracking and mineral rights
  • Section 6: stigmatized properties
  • 6.1 Stigmatized properties
  • 6.2 Valuing a stigmatized property
  • 6.3 A special note about COVID and stigma
  • Section 7: land use
  • 7.1 Introduction to land use issues
  • 7.2 Video: Zoning and restrictive covenants
  • 7.3 Flood plains
  • 7.4 Assignment: Let's go the maps!
  • 7.5 Onsite septic systems; straight-piping
  • 7.6 Video: Septic systems
  • 7.7 Subdivision Streets
  • 7.8 Nuclear facilities
  • 7.9 Airports and nuisances
  • 7.10 A little review quiz
  • Section 8: miscellaneous disclosures
  • 8.1 Introduction: Miscellaneous disclosure matters
  • 8.2 Audio: Miscellaneous disclosures
  • 8.3 A special note about COVID, disclosure, and discovery of material facts
  • Section 9: ethics and disclosure
  • 9.1 Ethical issues and disclosure
  • Section 10: review and summary
  • 10.1 The world's worst listing
  • 10.2 You're almost done!
  • 10.3 Final review; this quiz counts!
  • 10.4 Answer Key
  • 10.5 Summary
  • 10.6 End-of-course survey
  • 10.7 Just hit the complete buttone....
Completion rules
  • All units must be completed
  • Leads to a certification with a duration: until June 30