Virginia Realtor® Education from the RGS TITLE Real Estate Academy

RGS Title Real Estate AcademyThe RGS TITLE, LLC Real Estate Academy offers real estate agents comprehensive educational classes that assist in day to day business practices. Our academy also ensures that agent business practices are current, ethical and in compliance with the complicated, and ever changing, statutory requirements. Taught by professional real estate attorneys employed by our General Counsel, our classes have been developed with a pragmatic approach to a real estate agent's everyday business encounters. Each course qualifies participants for necessary professional continuing or post licensing education credit.

Please review the list of approved courses offered by RGS Title, LLC.

Course Title Length Credit CE# PL#


1 hour Mandatory CE- CONTRACTS
Elective PL - Residential RE		 63776 63777
  1. Real Property
    • Personal Property, Fixtures and Utilities
    • Equipment, Maintenance and Condition
  2. Finance Clauses
    • Financing Contingency
    • Appraisals
    • Seller Studies
  3. Possible Applications
    • Well
    • Septic
    • Termite
  4. Settlement
    • Date
    • Sscheduling
    • Settlement Agent
  5. Default
    • Title
    • "Time Is of the Essence"
    • Legal Remedies
  6. Notices and Deliveries
  7. Additions
  8. Virginia Jurisdictional Addendum
    • Lead Based Paint
    • Virginia Property Owners' Association Act
    • Virginia Condominium Act
    • Virginia Residential Property Disclaimer Act
    • Crespa
  9. Contingencies/Clauses Addendum
    • Home Inspections
    • Radon
    • Sale of Home Contingency
 3 hours Mandatory CE- CONTRACTS
Mandatory PL - OFFER TO PURCHASE		 63774 63775
Virginia Residential Standard Agency

Participants completing this seminar will be able to do the following:
1. Learn and utilize Virginia agency law terminology as a real estate licensee;
2. Review the different types of brokerage relationships available to real estate licensees so a participant can select the most suitable brokerage relationship;
3. Understand the duties of a standard agent, limited service agent and independent contractor so that a participant can apply those duties to all clients and customers;
4. Recognize potential liability issues with an eye to avoiding Virginia Real Estate Board (“VREB”) violations; and
5. Review new dual agency and designated agency requirements.

 

 

 

 3 hours Mandatory - AGENCY 64313 64313

This course is intended to give the attendee a fairly detailed view of two sections of the Internal Revenue dealing with the tax consequences of the sale of real property.

IRC Section 121 relating to the sale of a principal residence and the exclusion from gross inconle of the gain realized from such a sale if the requirements of the section are met. The attendee will be exposed to a comprehensive review of the ternlS of the statute as well as some of the regulations prOITIulgated thereunder. The attendee should leave the presentation with an understanding of the basic requirelnents of the Code Section and the benefits available to the seller of a prin1ary residence.

The second section of the materials and presentation deal with IRC Section 1031. This section deals \vith the use of exchanges of like kind properties to achieve a deferral of taxation on any gain realized from the transfer of real property held for investment or for use in a business for the production of inCOIne. The attendee will receive a fairly detailed review of the statute and regulations pronlulgated thereunder dealing with the exchange of like kind real properties. The attendee should leave the presentation with an understanding of the availability of the potential benefits of deferring the recognition of gain from the sale of investment real estate and the basic
requirenlents of the statute regarding same. A warning to the attendee that advice in this area is conlplex and should be given by a tax professional is included.

 3 hours Elective - Residential RE 62999 63000

This Fair Housing course provides general infornlation regarding the most common types of fair housing violations and how they can be avoided. The course instruction begins with a general overvie\v of the federal, state, and local laws which govern fair housing; including knowing to what types of transactions these laws apply. After knowing who is protected by these laws, the course will examine common fair housing violations, how
to prevent fair housing claims, and what to do if a violation occurs. The course rnaterials also provide fair housing resources for both the real estate professional and their clients.
A section of this course is also dedicated to advertising violations.

Through the use of the National Association of Realtor's Fair Housing video, this course will provide a complete overview of fair housing issues and demonstrations of violations.
Case studies at the end of the materials will be used to demonstrate real life scenarios with fair housing implications. The course attendee should leave this course with a broad-based overview of Fair Housing laws and how to prevent protect themselves and their clients from claims in the future.

 3 hours Mandatory - FAIR HOUSING 63739 63740
  1. Introduction/History of the Code
  2. Structure of the Code of Ethics
    • Duties to Clients and Customers
    • Duties to the Public
    • Duties to Realtors
  3. Ethics Quiz and Class Discussion
  4. Process of Interpretation and Enforcement
  5. Class Exercisises with Case Studies
  6. The Issue of Ethics In Our Market Today
    • Questions and Answers and Open Discussion
 3 hours Mandatory - ETHICS 56396 56397

The course materials and presentation provide a general overview of foreclosure proceedings in Virginia while providing real estate licensees with SOllie helpful ideas for working with Sellers in or near foreclosure. The discussion begins with an overview of the dOCUlllents that create the lenderlbolTower relationship and continues by describing the problen1s that often arise. Information regarding the timing and requirements of a tnlstee's sale are then presented to educate the class about the foreclosure process.

The last section of the course provides sonle practical advice for licensees in how to deal with sellers who are near foreclosure or purchasers who are thinking about buying foreclosed properties. This section includes a discussion of possible work-outs, important considerations in dealing with seller in foreclosure and advising purchasers who are considering buying foreclosed properties.

 3 hours Elective - Residential RE 56398 56399
  1. Agency Status Revised
  2. New Definitions In Section 54.1-2130
  3. What is Limited Service Representative
  4. A Closer Look at the Limited Service Representative
  5. Standard Agent
  6. Limited Service Representative Duties
  7. Disclosure Requirements for the LSR
  8. New Provisions Concerning Multiple Listing Services
  9. Licenses Dealing with the LSR's Client
  10. Code of Ethics: A Realtor® and the Connection
  11. Questions and Answers
 2 hours Mandatory - LSA 56400 56401
  1. Eminent Domain (LEGAL UPDATES ON TOPIC INCLUDED)
  2. Forms of Real Estate Ownership
  3. Legal Descriptions
  4. Real Estate Taxes and Other Liens (LEGAL UPDATES ON TOPIC INCLUDED)
  5. Real Estate Contracts(LEGAL UPDATES ON TOPIC INCLUDED)
  6. Transfer of Title
  7. Title Records
  8. Real Estate Financing
  9. Virginia Contract Disclosure Statues
  10. Overview of Relevant Legislative Changes
 3 hours Mandatory - LEGAL UPDATES 56617 56618

After introduction last year, the current Regional Sales Contract fonn has now been in use long enough to consider some issues and problems being experienced in the Inarketplace. Some may have been anticipated and others may be a surprise, but the purpose of this course and outline is to highlight the provisions that have created stumbling blocks, questions or headaches for agents as they negotiate and close real estate transactions.

1 hour Elective - Residential RE 56629 56630

The course will review all cOlnponents of the Virginia Association of Realtors Residential Contract of Purchase. Major tips will be offered to assist the real estate professional in order to have a better understanding of various parts of the contract that can at times cause pause and questions. Each paragraph of the contract will be reviewed and discussed, as well as addendums, contingencies and escalators. The course will also give an overview and review of the NVAR contingencies and clauses.

 2 hours Mandatory CE- CONTRACTS
Elective PL - Residential RE		 57345 57346

The course will review and further explore all topics listed below as well as relevant case law that pertains to the subject lnatter.

  1. Interests In Real Estate
  2. Real Estate Taxes
  3. Real Estate Contracts
  4. Transfer of Title
  5. Virginia Disclosure Statues
  6. 2007 Relevant Legislative Changes
 1 hour Mandatory CE - LEGAL UPDATES
Elective PL - Residential RE		 57347 57348
  1. Short Sales
  2. Forgiven Debt
  3. REO Sales
  4. Q&A
 2 hours Elective - Residential RE 58425 58426

The course Inaterials and presentation provide a general overview of the use of living trusts in real estate transactions. The discussion begins with an overview of the creation of a living trust and the parties to a trust agreement. The course also addresses the benefits and other special issues that arise when a property is held in trust. The last section of the course provides SOlne practical advice for licensees representing sellers and buyers who wish to hold property in their living trusts.

 1 hour Elective - Residential RE 57349 57350

This course is intended to give the attendee a fairly detailed overview of what title insurance is and how it applies to the real estate transaction and the real estate professional.

The l11aterials deal with the business of title insurance, nl)1hs and truths that lie wi thin the industry of title insurance and the process of how titles are insured. The course \vi11 also revie\v the final title policy and bring understanding to what the two most commonly issued title insurance policies in Virginia contain as coverage's and the differences between the two.

Final1y, the course wil1 exalnine the services that title insurance agents provide and the differences between those services so that the real estate professional can rnake an informed decision when selecting title insurance products and providers.

 2 hours Elective - Residential RE 57351 57352

This course will take the attendee through each step of the closing process as well as review frequently asked questions. Each section will touch focus on how to facilitate a smooth and successful closing transaction.

  1. Introduction of Course
  2. Before Settlement
  3. At the Settlement Meeting
  4. After the Closing
  5. Special Circumstances
  6. Q & A/FAQ Facts
 1 hour Elective - Residential RE 57353 57354
  1. History - The Law Prior to 2007 Legislation
  2. The 2007 Legislation
  3. Effect of the New Disclosure Act
  4. Conclusion
 1 hour Elective - Residential RE 57355 57356

This course will take the attendee though a complete and thorough review and comparison of the differences between the Virginia Association of Realtors contract for purchase and the Northern Virginia Associations of Realtors regional contract for
purchase.

 

 1 hour Mandatory CE- CONTRACTS
Elective PL- Residential RE		 63772 63773

This course is intended to give the attendee a fairly detailed view of selected issues in Virginia agency law as it applies to real estate professionals

The materials deal with three areas of the agency law: confidentiality, disclosure requirernents regarding the existence of an agency relationship; and dual agency because of the perceived importance of these considerations and their importance to professional conduct.

 1 hour Mandatory CE - AGENCY
Elective PL- Residential RE		 63897 63898
  1. Introduction
  2. The Good Faith Estimate (GFE) Review
  3. The HUD-l Review
  4. Conclusion
 2 hours Elective - Residential RE 59899 59900
  1. Short Sales Overview
  2. Presenting Offers
  3. Issue of Confidentiality
  4. Issue: When is a Short Sale Contract Ratified?
  5. Escrow Accounts and Earnest Money Deposits
  6. Commission Reductions??
  7. Property Status in MRIS Listing
  8. Q&A
 1 hour Elective - Residential RE 61400 61401
  1. I. General
  2. Sales Contract for Land
  3. Lease Purchase Option Agreements
  4. The Contract For Deed
  5. Seller Financing
 2 hours Mandatory CE -CONTRACTS
Elective PL- Residential RE		 58618 58619
  1. Common Ownership Interests
  2. Common Types of Deeds
  3. Common Forms of Co-Ownership
  4. Q&A
 1 hour Elective - Residential RE 61543 61544
  • How Do I Read the Contract?
    • Is there an obligation or duty owed by my client or to my client?
    • What strategy provides the best way to fulfill the duty or obligation?
    • Will the strategy consistently integrate into my process?
  • Simple Solutions for Common Issues
    • Post-Settlement Occupancy Agreements
    • Disallowed Escrows/Credits for Walk-Through Issues
    • Assignments of Funds
    • Closing Cost Credits
    • Residential Property Disclosure Statement
  • Getting the Most Out of the Process
 1 hour Elective - Residential RE 61768 61769
  1. Introduction
  2. What happens to the property title when an owner dies?
  3. The Intestate Estate
  4. The Testate Estate
  5. Conclusion
 1 hour Elective - Residential RE 62018 62019
  • Surveys: - Why have one?
    • What if there are issues reported on the survey?
    • How do surveys impact title insurance?
  • Easements: What are they?
  • Example: -Fax alert of survey findings
    • Sample Survey Review
 1 hour Elective - Residential RE 62671 62672
  1. What is FIRP"TA and why do I care?
  2. Who is a "Foreign Person"?
  3. What is "Selling or Otherwise Disposing of a Real Property Interest"?
  4. How much must be withheld?
  5. Are there exceptions?
  6. If no withholding is due at settlement} is the seller exempt from having to file a US Tax return?
  7. What should I tell my clients?
  8. Are their additional concerns for a Realtor working with foreign investors?
  9. Other Pitfalls
 1 hour Elective - Residential RE 62692 62693
  1. Buyer Benefits
  2. Why Should ~ use Renovation Financing?
  3. Realtor Questions
  4. What is Purchase and Renovation Financing?
  5. FHA 203 (K) & FHA 203(K) Streamline
  6. Conventional Renovation Loan
  7. Comparison of Down Payment & Monthly Payment
  8. Q&A
  9. The Renovation Process
  10. How do the numbers work?
  11. Q&A
 2 hours Elective - Residential RE 62975 62976
  1. Glossary of Terms Used in Exchanges.
  2. Issues in Tax Deferred Exchanges
  3. The Mechanics of a Delayed 1031 Exchange
  4. Some Special Circumstances - Briefly
  5. The Advantages and Disadvantages of a 1031 Exchange
 1 hour Elective - Residential RE 62997 62998
  1. Power of Attorney forms
  2. Revocable Trusts / Living Trusts and Land Trusts
  3. Estate Cases / Deceased Owners
  4. Corporations/LLCs/Partnerships
  5. "Foreign" Sellers
  6. Tax Deferred/l031/Starker Exchanges
  7. New Home Sales/Recent Construction
  8. Construction Loans
  9. Short Sales
  10. Bankruptcy
  11. Foreclosures
  12. Persons under a Disability - Sales by Guardians/Custodians
  13. Installments Sales/Contract for Deed
  14. Rent Backs
  15. Suggestions
 2 hours Elective - Residential RE 62973 62974

This course will improve the real estate licensee's understanding of basic negotiation techniques and theories to help him or her provide the greatest level of service and protection to the client. The techniques described herein are useful tools both as a means to obtain a desired result as well as to prevent an undesirable outcome. As such, this course seeks to increase the focus placed on the pre-contract stage of the transaction as a means to improve the clarity of the final ratified contract to make for a more consistently smooth settlement process.

 1 hour Elective - Residential RE 63235 63236