Fundamentals | firsttuesday Journal

DRE Bulletin Digest: Spring 2023

by ft Editorial Staff | Jun 2, 2023 | Real Estate, Your Practice | 0

The Spring 2023 edition of the California Department of Real Estate (DRE) Bulletin covers pre-license education changes, broker supervision requirements, the DRE’s complaint review process, and more.

DRE Hot Seat: False representations to influence, persuade or induce

by Amy Perry | Jun 1, 2023 | Fundamentals, Licensing and Education, Real Estate, Your Practice | 0

This article is part of an ongoing series covering violations of real estate law. Here, a broker surrendered his license in connection with a disciplinary action taken by the Department of Real Estate (DRE) for making substantial misrepresentations to his client in order to earn more fees.

Form-of-the-Week: Waiver of Contingency and Notice of Cancellation Due to Contingency — Forms 182 and 183

by Amy Perry | May 26, 2023 | Forms, Fundamentals, Real Estate | 0

An agent uses RPI Forms 182 and 183 to waive contingencies and to cancel the transaction when a contingency is not satisfied.

Dual Agency

by ft Editorial Staff | May 22, 2023 | Fundamentals, Real Estate, Video, Your Practice | 0

Timely disclosure of a dual agency when simultaneously representing the best interest of opposing participants in a transaction.

MLO Recession Side Hustle Guide [e-book]

by ft Editorial Staff | May 19, 2023 | Feature Articles, Mortgages, Real Estate, Recessions, Your Practice | 0

Learn how mortgage origination providers will survive the ongoing downturn in mortgage originations with this RPI ebook.

The liquidated damages provision and the breaching buyer’s deposit when prices decline

by Carrie B. Reyes | May 15, 2023 | Buyers and Sellers, Feature Articles, Real Estate, Recessions, Your Practice | 0

Agents need to be aware of the maximum dollar amount the seller is entitled to receive upon a buyer’s breach – especially when home prices are falling.

California’s for sale inventory: a symptom of seller reluctance in 2023

by Carrie B. Reyes | May 9, 2023 | Charts, Fundamentals, Home Sales | 1

Seller reluctance has sunk California’s for-sale inventory in the first half of 2023.

The breaching buyer’s responsibilities: Part 2

by Carrie B. Reyes | May 8, 2023 | Feature Articles, Real Estate, Your Practice | 0

How does a buyer’s breach impact the seller’s ability to collect on a monetary loss in practice?

The breaching buyer’s responsibilities: Part 1

by Carrie B. Reyes | May 8, 2023 | Feature Articles, Real Estate, Your Practice | 0

When does a buyer’s breach of a purchase agreement entitle a seller to recover money losses?

DRE Hot Seat: Prison time for a broker who committed heinous mortgage fraud

by Amy Perry | Apr 27, 2023 | Fundamentals, Licensing and Education, Mortgages, Real Estate | 1

This article is part of an ongoing series covering violations of real estate law. Here, the California Department of Justice (DOJ) sentenced a broker to 5 years and 4 months in prison and ordered him to pay restitution for creating forged and fraudulent records to obtain more than $8 million in mortgages for his clients in order to earn fees for himself.

The seller cancels the purchase agreement: now what?

by Carrie B. Reyes | Apr 24, 2023 | Buyers and Sellers, Feature Articles, Market Watch features, Your Practice | 0

Buyer remedies when a seller breaches or cancels a purchase agreement

The real estate agent rip-off

by Carrie B. Reyes | Apr 21, 2023 | Feature Articles, Real Estate, Your Practice | 1

Is it ever a good idea to negotiate your fee rate with a client?

New California Real Estate Practice course fulfills 2024 requirements and beyond

by ft Editorial Staff | Apr 21, 2023 | Feature Articles, Features, Fundamentals, Licensing and Education, Real Estate, Your Practice | 0

As of today, firsttuesday is the first California school to obtain DRE-approval to provide California’s future agents and brokers with the new Real Estate Practice course.

Extending performance dates to attain purchase agreement objectives

by Carrie B. Reyes | Apr 17, 2023 | Buyers and Sellers, Feature Articles, Real Estate, Your Practice | 0

Avoid premature termination when purchase agreement objectives can be met by extending dates.

Time to perform as staging a cancellation

by Carrie B. Reyes | Apr 10, 2023 | Feature Articles, Real Estate, Your Practice | 0

Learn when a buyer or seller may exercise their right to cancel the purchase agreement and terminate the transaction.

The Appraisal Foundation urged to revise their Ethics Rule for appraisers

by Amy Perry | Apr 6, 2023 | Appraisal, Fair Housing, Fundamentals, Laws and Regulations, Real Estate | 0

The Appraisal Foundation, responsible for updating the Uniform Standards of Professional Appraisal Practice, has revised their Ethics Rule at the request of federal regulators.

Market price influencers for a BPO report

by Carrie B. Reyes | Mar 31, 2023 | Appraisal, Feature Articles, Home Sales, Real Estate, Your Practice | 1

Learn about the factors influencing a broker’s price opinion (BPO) report, including the property’s location, natural hazards and local ordinances.

DRE Hot Seat: Trust funds require constant upkeep

by Amy Perry | Mar 29, 2023 | Fundamentals, Licensing and Education, Real Estate, Your Practice | 0

This article is part of an ongoing series covering violations of real estate law. Here, the Department of Real Estate (DRE) revoked the real estate license of a broker who did not properly maintain trust fund records, and allowed the unauthorized withdrawal of trust funds.