315-432-1045 info@pccsyr.com

Real Estate Definition(s) of the Day: August 17, 2019

Terms and their meaning are important parts of the real estate transaction.  Understanding terms is an important part of the pre-licensing process.  Terms and understanding them are important to successfully passing the license test.

Regulation ZFederal guidelines under the Truth-in Lending Act that require full disclosure of all credit terms for consumer loans.

Exclusive Right to Sell:  Listing agreement that entitles the broker to a commission if anyone, including the seller, finds a buyer for the property during the listing term.

Flood Plain:  A geographic area close to a river or stream that is subject to flooding.  In some areas, flood plains are mapped by the Federal Emergency Management Agency (FEMA) so that they may be covered by the National Flood Insurance Plan.

Online Course Catalog

Click Here for our complete Course Catalog for Online Pre-Licensing and Continuing Education.  Real Estate Salesperson, Real Estate Broker, Appraiser, Mortgage, and CompuCram™ Test Prep.

Appraisal Qualifying Courses CLASSROOM

Click Here for Classroom Appraisal Pre-Licensing Courses.  Appraiser Assistant, State Licensed Real Estate Appraiser, State Certified Residential Real Estate Appraiser, and State Certified General Real Estate Appraiser.

Real Estate Salesperson & Broker Qualifying Courses CLASSROOM

Click Here for Classroom 75 Hour Salesperson Course, 45 Hour Broker Course.  75 Hour Salesperson Course is offered in two formats:  Full 75 hours in the classrom or Hybrid (40 hours in classroom/35 hours online).

Continuing Education CLASSROOM

Click Here for Classroom Continuing Education.  NYS DOS requires 22.5 hours of continuing education for real estate licensees – must include 1 hour agency and 3 hours fair housing.  NYS DOS requires 28 hours of continuing education for real estate appraisers – must include 7 Hour USPAP update.