Real estate licensees will encounter various contracts and must understand the requirements at different transaction stages. This course covers the basics of forming a contract, common issues in contract preparation, and the licensee’s role in transactions. It also examines different real estate contracts, including leases, and outlines the duties of a property manager.

• recognize the elements of valid contracts, how they are formed, and how they are terminated
• identify who has the authority to sign, modify, or cancel a listing agreement
• describe typical contingencies that are found in a purchase and sale agreement
• describe the rights of the parties in the event of a default and the remedies available
• explain common provisions found in lease agreements
• summarize the role of a property manager