PSI General Portion Content Outline – Practice of Real Estate
X. Practice of real estate (Salesperson 13%; Broker 14%)
A. Trust/escrow accounts
- Purpose and definition of trust accounts, including monies held in trust accounts
- Responsibility for trust monies, including commingling/conversion
B. Federal fair housing laws and the ADA
- Protected classes
- Prohibited conduct (red-lining, blockbusting, steering)
- Americans with Disabilities (ADA)
- Exemptions
C. Advertising and technology
- Advertising practices
a) Truth in advertising
b) Fair housing issues in advertising
- Use of technology
a) Requirements for confidential information
b) Do-Not-Call List
D. Licensee and responsibilities
- Employee
- Independent Contractor
- Due diligence for real estate transactions
- Supervisory responsibilities (BROKER ONLY)
a) Licensees
b) Unlicensed personnel
E. Antitrust laws
- Antitrust laws and purpose
- Antitrust violations in real estate