PSI General Portion Content Outline – Practice of Real Estate

X. Practice of real estate (Salesperson 13%; Broker 14%)

A. Trust/escrow accounts

  1. Purpose and definition of trust accounts, including monies held in trust accounts
  2. Responsibility for trust monies, including commingling/conversion

B. Federal fair housing laws and the ADA

  1. Protected classes
  2. Prohibited conduct (red-lining, blockbusting, steering)
  3. Americans with Disabilities (ADA)
  4. Exemptions

C. Advertising and technology

  1. Advertising practices

a) Truth in advertising

b) Fair housing issues in advertising

  1. Use of technology

a) Requirements for confidential information

b) Do-Not-Call List

D. Licensee and responsibilities

  1. Employee
  2. Independent Contractor
  3. Due diligence for real estate transactions
  4. Supervisory responsibilities (BROKER ONLY)

a) Licensees

b) Unlicensed personnel

E. Antitrust laws

  1. Antitrust laws and purpose
  2. Antitrust violations in real estate
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