Alabama Prelicense Fundamentals
This prelicense course begins by introducing the student to various types of real estate careers, activities, companies, and governmental agencies that regulate the industry. Then the course explores property rights, forms of ownership, property restrictions, and zoning. Students will learn the mathematical calculations and formulas commonly used in the real estate industry. The course provides an overview of agency relationships, contract law, property transfers, listing agreements, and deeds as well as environmental issues that licensees may encounter. The general prelicense section ends with an exploration of loans and the loan process, leasing, appraisal methods, and fair housing laws. The Alabama license law section examines state laws governing real estate licensing, licensee conduct, and the organization and duties of the Alabama Real Estate Commission. Students will learn about the requirements for securing and maintaining a license, the real estate-related activities that require a license, and the responsibilities of a qualifying broker. This course provides an overview of the Alabama Real Estate Consumers Agency and Disclosure Act (RECAD) and the Real Estate Recovery Fund, as well as violations of Alabama License Law and Commission Rules, the disciplinary action process, penalties for licensees, and the appropriate way to handle trust funds.
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