Utah Mandatory Residential Course

Welcome and thank you for joining us for this new course on topics associated with agency relationships, agreements, and fiduciary duties for Utah licensees. An agency relationship between a licensee and the employing principal broker does not officially begin without a signed agency agreement in place for things like buyer’s agency, seller’s agency (or “listing agency”), or limited agency (representing two sides in the transaction). Without an agency agreement in place, you really can’t finalize a purchase, sale, or lease transaction. If so, you won’t collect a commission check either for all of your hard work.

Shortly after the agency agreement is confirmed, you will then need the assistance of real estate contracts and disclosure forms when working with either the buyer or seller. You will learn about the importance of correctly handling your client’s earnest money deposits, adding various conditions and contingencies to protect your client’s best interests, and making sure that you and any other licensee involved in the transaction properly disclose all known or potential property defects after better understanding which forms to select. You will also learn about the most effective and legal ways to advertise to find clients and how to minimize any risks associated with your client’s deals.