ABR Course  2004 Revisions

General format and typeface

In order to enhance the course material’s readability, the formatting and typeface have been changed and more white space added.

Statistics

The material contains statistics from NAR’s 2004 Profile of Home Buyers and Sellers, the most up-to-date.

Page # / Module #1 Additions & Revision
1.2..... / Change: Condensed the commentary on the timeline; moved detail on years 1847-1985 to the Appendix. Timeline in main course material starts with the evolution of buyer’s representation
1.4..... / New: Added VOWS and IDX policies to timeline
1.8..... / New: Added commentary on VOWS and IDX
1.9..... / New: Added a definition of common law in comparison to statutory law
1.21.... / New: Added a agency “flowchart” diagram
1.24.... / Change: Reworked diagrams of broker relationships
1.26.... / Change: Reworked diagrams of broker relationships
1.28.... / Change: Reworked diagrams of broker relationships
1.29.... / Change: Moved diagram of Subagency and commentary to Appendix
1.32.... / New: “controversy” questions are formatted into a checklist in tool kit
1.35.... / Change: Added notation suggesting instructor skip exercise 1-6 in non-vicarious liability states
Slide # / Module 1 PowerPoint Slide changes
Note: The introduction slides are now in a separate module. One new slide (#11) has been added to address frequently asked questions.
1-2..... / New: The early part of the time line (1847 --) has been replaced with a statement about the evolution of buyer’s agency.
1-4,5,6.. / New: Advantages of buyer representation
1-6..... / New: Decline of subagency
Deleted: The diagram of subagency
1-9..... / New: IDX and VOWs
Page # / Module #2 Additions & Revision
2.8..... / New: Consolidated and reformatted stages in a real estate transaction into a flowchart
2.9..... / Change: Moved exercise on client/customer level service to follow presentation of material on the topic, in order to stress application of material
2.12.... / New: Added a definition of ministerial acts.
2.16.... / New: Made factors that affect the value of a property into a checklist format in the toolkit.
2.19.... / New: 10 Steps to a Successful FSBO transaction.
Slide # / Module 2 PowerPoint Slide changes
2-17,18 / Updated: 2004 Statistics from Profile of Homebuyers and Sellers
Page # / Module #3 Additions & Revision
3.2..... / New: Made common provisions in a Buyer Representation Agreement into a checklist format in the appendix
3.5..... / New: Added points 3 & 4 to methods of compensation
3.7..... / New: Added commentary on after-the-fact referrals
3.10-11.. / Change: Incorporated commentary (from the appendix) on relocating buyers
3.16.... / New: Added commentary on Do Not Call laws
3.17.... / New: Added commentary on Do Not Fax laws
3.17.... / New: Added commentary on Do Not e-mail guidelines & laws
3.26.... / New: Added mnemonic phrase for Fair Housing Protected Classes
3.32.... / New: Added information on “Quick Statistics” available on Realtor.org
Slide # / Module 3 PowerPoint Slide changes
3-38.... / New: After the fact referrals
3-13,14.. / Updated: 2004 statistics
3-23,34.. / Updated: 2004 statistics
3-27.... / New: Do not call
3-28.... / New: Do not fax
3-29.... / New: Do not e-mail
3-42.... / New: Mnemonic phrase for federally protected fair housing classes
Page # / Module #4 Additions & Revision
4.4..... / Change: Expanded commentary on handling multiple offers, added new Standards of Practice
4.6..... / Change: Augmented list of tips for successful negotiations
4.7..... / New: Tips for Better Negotiations
4.12.... / New: Buyer’s Negotiating Position assessment chart also appears in Appendix as a tool
4.14.... / New: 6 Top Seller Concessions
Slide # / Module 4 PowerPoint Slide changes
4-11,12 . / New: added slides to space out the material on Assessing the Strength of the Buyer. Old slides were too text heavy.
Page # / Appendices Additions & Revision
New: Divided Appendix into two new Appendices:
Appendix I: Toolkit
Appendix II: References
6.1-6.8.. / New: Appendix I: Toolkit
Contents:
  • Determining Agency Relationships
  • Stages in a Real Estate Transaction
  • Issues that Affect the Value of a Property
  • Common Provisions in a Buyer’s Representation Agreement
  • Fair Housing Assessment Questionnaire
  • Assessing Your Buyer’s Negotiation Position

Page # / Appendices Additions & Revision
7.1-7.50. / Appendix II: References
Contents:
  • Revised: History of Real Estate Timeline 1847 – 1999
  • Subagency
  • Recommendations of the Presidential Advisory Group on the Facilitator
  • Risk Reduction Review
  • Court Cases
  • Stigmatized Property
  • Niche Marketing
  • Profile of Home Buyers and Sellers
  • New: Frequently Asked Questions about Do Not Call
  • New: Do Not Fax Rules
  • New: Do Not E-Mail Guidelines

Powerpoint slides
The slides have been sequenced to correspond to new text material.
The number of mouse-clickshas been reduced on most slides to facilitate movement through the material. Concepts appear, upon mouse-click, in groups instead of single bullet points. Transitions have been added as a cue to the viewer that new material is appearing.
Changes to Exam Questions
Q4... / Rephrased
Q9... / Alternate answer “D” added
Q10.. / Rephrased question on vicarious liability to note that it may not be applicable in every state
Q17.. / Alternate answer “D” added
Q18.. / Alternate answer “D” added
Q19.. / Awkwardly phrased question on steering replaced by new question on federally protected fair housing classes
Q20.. / Redundant question on breach of fiduciary duties replaced by new question on stages of a real estate transaction
Q23.. / Redundant questions on contracts (material not specifically covered in the course book) replaced with question on do not call laws
Q25.. / Answer “D” rephrased from “none of the above” to provide a plausible alternate (wrong) answer
Q27.. / Weak question on negotiation replaced with question on presenting multiple offers
Q28.. / Question on subagency replaced by question on do not fax laws
Q39.. / Redundant question on dual agency replaced by question on do not e-mail laws
Q46.. / Redundant question on disclosed dual agency replaced by question on IDX and VOWs
Q50.. / Awkwardly phrased question on handling offers, replaced by a question on agency disclosure.

1

October 3, 2004