Contract Confidence | Universal

This lesson provides an overview of the course organization and what to expect as you progress. It covers the review of contracts and associated documents based on checklists for new buyers, new sellers, and the under contract to closing stages. It introduces modules focused on commitments ranging from welcome lessons to detailed contract explanations and file documentation. By the end of the course, learners will master understanding and explaining various contracts with confidence.

In this lesson, you'll discover how to access and utilize the Contract Confidence resources offered through your membership. Everything you need, including downloadable and editable resources, can be found on askagentannie.com/resources. The course provides step-by-step guides, checklists, and templates to assist at every stage of the client experience process using tools like Zipforms. Additionally, many resources have been reviewed and approved by legal counsel. The content is designed for ease of access, even on mobile devices.

In this lesson we explore the vital role of self-care and mindset shifts in achieving long-term success as a real estate agent. Learn how to manage your time effectively, maintain physical and mental well-being, and develop a positive, growth-oriented outlook. This lesson equips you with practical strategies to thrive in a demanding industry, emphasizing the importance of confidence, goal-setting, and visualization.

In this quick refresher module, we provide an overview of our governing bodies, ranging from state statutes to brokerage rules. This lesson briefly revisits key points discussed in the foundations section, encouraging learners to refer to their workbooks for detailed regulations.

Overview of the Governing Bodies for Real Estate Agents" provides an overview of the hierarchy and roles of governing bodies that real estate agents must adhere to. The lesson discusses the importance of state statutes, the role of the Real Estate Commission in issuing licenses and enforcing laws, and the benefits and obligations of joining National, State, and Local Associations of Realtors. The lesson emphasizes the significance of being familiar with various contracts and the resources provided by each organization, while also stressing the importance of understanding brokerage-specific policies and procedures.

This lesson introduces Module 3, Contract Tech. We'll discuss where to find contracts, the use of Zipforms and Form Simplicity, and the importance of using templates for contract preparation and task management.

This lesson provides a detailed walkthrough on how to apply and use templates in Zipforms, including navigating through the platform, creating files, using task checklists, filling out contracts, adding additional provision clauses, and applying task templates for different client scenarios.

In Module 4, you'll learn how to read, understand, and explain essential file and transaction documents. Start by consulting with your broker about required documents. Use our templates and create a customized checklist. We'll guide you through each document to help you confidently explain them to clients.

In this lesson, you'll learn how to read, understand, and confidently explain industry documents step by step. We'll cover everything from preparing and customizing checklists for buyers and sellers, to creating and practicing scripts for client meetings. Follow these structured steps, and you'll be ready to explain documents with confidence and professionalism. Join us for practical tips and hands-on exercises to enhance your skills.

This lesson introduces Module 5, focusing on the fundamental types of relationships and documents involved in real estate transactions. It serves as a foundational guide to understanding different buyer-seller relationships and the essential paperwork required in brokerage/consumer agreements.

In this video lesson, we'll delve into the essentials of brokerage and consumer relationships in real estate. Learn about the different types of relationships, where they originate, and who they involve. We'll explore the roles of brokers and agents, the specifics of various relationship types like customer, intermediary, and agency, and the requisite documentation for each. Whether you're representing buyers or sellers, understanding these dynamics is crucial for your success.

In this lesson, we'll explore the real estate brokerage disclosure, also known as the relationship disclosure. Learn its significance, the different types of working relationships in real estate, and when this disclosure is required. Specifically tailored for Wyoming, this overview ensures you understand the legal essentials before entering any agreements.

This lesson covers key contracts in real estate, including buyer and seller agency agreements. It explains different types of agreements based on state laws and broker guidelines, and highlights the importance of understanding and using the appropriate documents for various property types.

This script covers the buyer agency addendum; including the importance of professional inspections, testing for radon gas, water wells and rights, mineral rights, purchasing vacant land, lot lines and surveys, zoning and permits, covenants, flood zones and insurance, home warranty, referrals, utility companies, mail service, video and listening devices, registered sex offenders and crime, non-discrimination, and legal counsel.

In this lesson, we dive into the process of modifying agency agreements. We'll guide you through the steps required to implement these changes, such as altering the listing price, ensuring proper documentation, and securing necessary signatures.

In this module, we'll explore key contracts and agreements between buyers and sellers, such as the contract to buy and sell real estate, provisions, contingencies, addenda, and counter-offers. Also included is an offer prep and review guide. While some references are Wyoming-specific, the core concepts apply universally.

This lesson explains the real estate contract for buying and selling properties, emphasizing its binding nature and the need for accuracy. It suggests selecting and mastering the most relevant contract version and using preparation guides and templates. The importance of written agreements and consulting with brokers or attorneys is highlighted.

In this lesson, Amanda explains the difference between an addendum and an amendment in real estate contracts, the types of addenda encountered, and how to access Zipforms to prepare an addendum.

This lesson discusses contract contingencies and additional provisions in real estate transactions. It covers the importance of written agreements, common contingencies, the role of brokers, and the need for clarity in clauses. The speaker emphasizes the significance of thorough preparation and consultation with brokers and attorneys to protect the parties involved in real estate deals.

This lesson discusses home sale contingencies; defining what they are, the importance of clauses, questions to ask when representing buyers or sellers, and considerations for different scenarios. It also covers the use of specific clauses and the significance of kick-out clauses. Additionally, it addresses inspection deadlines, closing dates, and suggestions for sellers dealing with contingencies. The lesson emphasizes the importance of thorough preparation, detailed contract negotiation, and protecting the client's interests.

In this lesson, Amanda explains the process of preparing a counteroffer in real estate transactions. The lesson covers the importance of documenting all agreements in writing, the significance of thorough preparation when creating offers, counteroffers, or inspection objections. An example is provided on creating a counteroffer using Zipforms, highlighting key elements and considerations for a successful negotiation. The importance of broker approval and the expiration date of counteroffers are emphasized.

This module introduces the various supporting documents to the Contract to Buy and Sell Real Estate. It covers frequently encountered documents, their execution process, and their roles in finalizing a contract. While the examples come from Wyoming's contract course, the principles are broadly applicable.

This lesson is focused on a doing mindset check before diving into Module 9. It encourages self-reflection, positivity, and confidence in achieving success.

This lesson explains the earnest money process from start to finish, covering the deposit made by the buyer, the source and format of funds, handling of the check, deadlines, and what happens if the deal falls apart. It also emphasizes the mutual agreement between buyer and seller regarding the release of earnest money.

This lesson covers the concepts of loan pre-qualification, pre-approval, and proof of funds letters, explaining their differences, when they are required, and recommendations for including them in real estate transactions.

This lesson discusses the use of a bill of sale for personal property in real estate transactions, emphasizing the importance of specifying items and avoiding misunderstandings during the sale process.

This lesson discusses property condition statements and disclosures, emphasizing the importance of disclosing latent material defects. It also covers the seller's obligation to disclose known defects, the property condition statement document, and the buyer's responsibility to conduct inspections.

This lesson provides a detailed explanation of the lead-based paint disclosure requirements for residential properties built before 1978. It covers the necessity of the disclosure, form completion, and testing procedures. The lesson guides on where to find the form, how to fill it out for sellers and buyers, and the importance of complying with the regulations. Additionally, it emphasizes the risks associated with lead exposure, the obligations of the seller, and the buyer's rights to conduct inspections.

This lesson covers the inspection contingency notice, detailing the important deadlines and considerations for both buyers and sellers in real estate transactions. It explains the process of handling inspection objections and appraisal repair requirements, emphasizing the significance of written communication and thorough preparation. The script delves into various scenarios, tips for effective negotiations, and key points to remember during the resolution process. The lesson concludes with a reminder to consult with a broker for guidance and to be aware of contract-specific details, such as deadline extensions.

This lesson explains the agreement to amend/extend, including when to use it, how to fill it out, and its importance in protecting parties during real estate transactions. It provides examples of situations where the agreement is necessary, such as extending deadlines or making changes to the original contract. The script also emphasizes the significance of documenting agreements in writing and the proper procedure for using the form. Overall, it offers practical guidance for real estate professionals dealing with contract amendments and extensions.

This lesson explains the VA and FHA amendatory clause, including when it's required, who prepares it, and who needs to sign it.

This lesson explains the concept of a 1031 exchange and provides key information for real estate agents on eligibility, time limits, qualified intermediaries, property requirements, taxes, and the agent's role in the exchange process.

This lesson explains the concept of a pre-closing occupancy agreement, its importance, considerations for buyers and sellers, and potential risks involved. It emphasizes the need for a well-written agreement and advises caution when entering into such agreements.

This lesson explains the concept of post-closing occupancy agreements, covering the definition, purpose, considerations, and potential scenarios related to such agreements.

In this lesson, we discuss the various ways earnest money can be released in real estate transactions, highlighting the importance of both parties signing an agreement for the release. Different scenarios for earnest money release are outlined, emphasizing the need for clarity and mutual understanding in the process. The importance of proper agreements to prevent future legal actions is also emphasized, with a mention of Wyoming statute requirements.

 In this final module of Contract Confidence, we explore the internal file documents crucial for real estate transactions. These lessons, drawn from Wyoming's Contract Confidence course, offer industry-wide concepts and best practices that apply regardless of your location. Learn about essential documents, due diligence processes, and more to confidently manage your real estate deals.

This lesson explains the concept of taking title to a property, different ways of taking title, common relationship options, and the importance of the vesting designation form in finalizing the title commitment and closing documents.

This lesson outlines the importance of obtaining LLC or trust documents when dealing with real estate transactions involving businesses or trusts. It explains the necessary documentation required by title companies and lenders, emphasizes the need for upfront information to avoid delays, and lists the specific documents needed for LLCs and trusts.

This lesson explains the importance and implications of a power of attorney (POA) document, highlighting its uses, preparation, limitations, and expiration upon the principal's death.

This lesson discusses the purpose of the buyer's good faith estimate, when it's required, how to fill it out, and the importance of preparing one for buyers. It covers key sections of the estimate such as purchase and mortgage information, estimated interest rate, closing costs, estimated monthly payment breakdown, and the calculations involved. The script emphasizes the need for financial diligence, communication with lenders, and thorough preparation before submitting offers.

This lesson discusses the Seller's Estimated Net Proceeds sheet, its purpose, when to prepare it, and the line items it includes. It explains the importance of preparing this document for sellers, providing guidance on calculations and considerations during the sale process.

This lesson explains the preliminary listing title order or pre-listing title commitment request form. It covers the purpose of the form, the difference between preliminary title commitment and title commitment, when to request it, who chooses the title company, and where to find the form. It also discusses sending the form to the title company and provides information on understanding the title commitment.

This lesson covers the process of reviewing and understanding the pre-listing title commitment, including key areas to focus on such as the requirement section. It also references a lesson in the Client Experience course on How to Understand and Read a Title Commitment.

This lesson explains the importance of providing the MLS sheet to buyers, highlighting reasons such as full disclosure, professionalism, and negotiation assistance.

In this lesson, Amanda explains the importance of providing the previous MLS sheet to buyer clients when writing an offer. She highlights the benefits of building trust, credibility, and professionalism by sharing previous sale information. Additionally, how the MLS sheet can aid in price negotiations, identify potential issues with the property, and ensure transparency with buyers.

The lesson discusses the importance of reviewing both sold and active comparable properties with buyer clients when writing an offer on a property. It emphasizes building trust, helping buyers make informed decisions, understanding the property's potential, foreseeing hurdles, justifying pricing recommendations, providing context for negotiations, and improving the chances of a successful sale. Amanda highlights the need to have buyers understand the market and the importance of reviewing comparables before submitting an offer.

This lesson explains the importance of reviewing County Records, Taxes, and Aerial Images with buyers in Wyoming. It covers the resources available through the map server, county records, property tax information, veteran exemptions, and the significance of aerial images in discovering potential property issues upfront.

This lesson discusses what a kickback is, why it needs to be disclosed, and the importance of having a client sign an acknowledgment document to ensure compliance with statutes.

This lesson explains the concept of home warranty programs, their benefits for buyers and sellers, coverage details, differences from homeowner's insurance, and referral kickbacks for agents.

This lesson explains the importance and process of referral agreements between real estate agents, emphasizing the value of referring clients to experts in different areas. It covers key aspects such as when to refer a client out, how to choose the right agent, and details of the referral agreement including commission split and duration. Networking with other agents and the necessity of written referral agreements are highlighted for building a successful referral network.

This lesson explains the importance of the appraisal release form, why it needs to be signed, and how it benefits real estate professionals in understanding pricing and valuation through current appraisals. It also highlights the process of adding appraisal information to a spreadsheet for market analysis.

This lesson explains how to review a settlement statement, including checking names, addresses, purchase prices, fees, credits, errors, and ensuring accuracy for a smooth closing process.

This lesson explains the purpose and use of the post closing client contact sheet, how to customize it, and the importance of updating client information for marketing strategies.

This lesson is the closing segment of the 'Contract Confidence' course bundle. It congratulates the viewer for completing the course, encourages them to reflect on their progress, and reassures them of ongoing support. It highlights areas to focus on next such as self-care, networking, and continuous learning, and invites the viewer to stay engaged and reach out through various channels.