Valuation, Marketing, and Listings (IL)

Overview

This course provides a comprehensive overview of how to best obtain and manage listings, determine value through a comparative market analysis, negotiate offers, and determine the strongest offer for a seller. Licensees will also learn about how zoning, encumbrances, liens, deed restrictions, easements, and environmental concerns affect property values. The course also discusses the different types of listing agreements, the disclosures required on the seller's disclosure report, and the various issues that may arise with appraisals, inspections, underwriting, and loan applications.

Learning Objectives

Upon completion of this course, students will be able to:

  • explain how a comparative market analysis analyzes pertinent market data, including comparable sales, to help a seller establish a list price for a property
  • describe how market values are directly affected by various land use controls, such as zoning, environmental laws, and building codes
  • recognize the different multiple listing service rules that licensees must follow that govern how properties are listed and how offers and counteroffers are to be treated
  • differentiate between the different types of listing agreements, including exclusive right to sell, exclusive agency, and open listing
  • list the various items that must be included in the Residential Real Property Disclosure Report
  • identify the types of antitrust violations that licensees must avoid, including conspiracy to fix prices, imbalanced commission splits, and conspiracy to boycott

Designed For

Brokers and managing brokers

Prerequisites

None 
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