Washington Real Estate Practice

After taking both the 60-hour Fundamentals course and this Practice course you qualify to take the Washington license exam. Start now!

Includes: Certificate of Completion

Approval: #C20109750

Credit Type: Real Estate Practices

Credit: 30 Hour(s) | Language: English

About this Course

This 30-clock hour course is part of the Broker Prelicense requirement of 90 clock hours. The Practices course is to be taken after the 60-hour Washington Fundamentals Course. It is designed to teach the latest themes and topics including major subjects such as Agency Relationships, Listing Agreements, Evaluating and Pricing Property, Negotiation and Sales Techniques, Purchasing and Sales Agreements, Residential Finance and The Closing Process, and much more. After you pass the Fundamentals course and this new Practice course you may sit for the WA license exam.

Course Facts


What You Get

Certificate of completion


Credit Hours

30 hours


Learning Type

100% Online, Available 24/7


Course Structure

At your own pace, save progress as you go



Support available by email, phone, or chat


Course Update

Content is updated and current

Topics Covered

Lesson 1: Working as an Independent Contractor

- Independent Contractor Definition and Requirements

- Selecting the Right Brokerage Firm

- Broker Business Relationships and Responsibilities


Lesson 2: Working as a Broker

- Broker's Business Plan

- Goals

- Tools and Accountability

- Broker's Environment

- Renewal Through Learning


Lesson 3: Developing a Client Base

- Common Rookie Mistakes

- Prospecting

- Setting Production Goals

- Center of Influence

- Marketing

- Web Marketing

- Referral-Based Business


Lesson 4: Recordkeeping

- General Recordkeeping Responsibilities

- Accuracy and Accessibility of Records


Lesson 5: Concept of Agency

- Introduction to Agency

- Creation and Termination of Agency

- Types of Agency

- Dual Agency

- Subagency and Non-Agency


Lesson 6: Relationships in Agency

- Brokers' Duties to Clients and Customers

- Duties of a Seller's Agent

- Duties of a Buyer's Agent

- Duties of a Dual Agent

- Relationship Between Broker and Licensees

- Compensation

- Splitting Commissions

- Liability


Lesson 7: Services Offered With and Without an Agency Relationship

- Services and Disclosures

- Offering Services without Creating Agency


Lesson 8: Agency and Multiple Listing (MLS) Associations

- Multiple Listing Associations

- Vicarious Liability and Imputed Knowledge


Lesson 9: Ethical Behavior

- Principles of Ethical Behavior

- Reasoned Views vs. Opinions

- Ethical Behavior

- Ethical Theories

- Consequentialism

- Duty-Based Ethics

- An Ethical Decision-Making Model

- Ethical Case Study


Lesson 10: Case Studies


Lesson 11: Listing Property

- Listing Agreements

- Elements of a Listing Agreement

- Determining What is for Sale

- Termination of a Listing Contract


Lesson 12: Listing Agreements and Seller Disclosure Statements

- Types of Listing Agreements

- Ownership

- Washington Residential Seller Disclosure Law

- Amending the Disclosure Statement


Lesson 13: Fair Housing

- Fair Housing

- Exemptions

- Enforcement

- Advertising and Fair Housing

- Fair Housing Compliance

- Anti-Trust and Real Estate Activities


Lesson 14: Compensation and Buyer Agency

- Compensation

- Representing Buyers

- Buyer Brokerage Agreement Clauses


Lesson 15: Valuing Property

- Forces Affecting Values

- Types of Value

- Economic Factors Influencing Value

- Highest and Best Use

- Value, Price, and Cost


Lesson 16: Market Analysis

- Approaches to Valuation

- Comparative Market Analysis (CMA)


Lesson 17: Replacement and the Cost Approach

- How is Value Estimated?

- Replacement Cost and Reproduction Cost

- Deterioration and Obsolescence

- Determining Replacement Cost

- Cost Approach Review


Lesson 18: Income Approach

- Capitalization

- Operating Expenses

- Capitalization Rate

- Gross Rent Multiplier


Lesson 19: CMA vs. Appraisal Part 1

- Approaches to Value

- Square Footage

- Depreciation


Lesson 20: CMA vs. Appraisal Part 1

- Sales Comparison Approach

- Adjustments


Lesson 21: Advertising

- Advertising Spending

- 30-Day Marketing Process


Lesson 22: Open Houses

- Why Hold Open Houses?

- Open House Tips

- Advertising

- Online Open Houses

- Fair Housing Compliance


Lesson 23: Negotiations and Offers

- Communication and Effective Representation

- Negotiations and Outcomes

- Offer and Acceptance

- Counteroffers

- Multiple Offers

- Sales Contracts


Lesson 24: Earnest Money and Home Inspections

- Earnest Money

- Home Inspections

- Relationships with Home Inspectors

- Assistants


Lesson 25: Basic Law of Contracts

- What is a Contract?

- Contract Requirements

- Two Contract Caveats

- Contract Breach


Lesson 26: Types of Contracts

- Types of Contracts

- Basic Contract Law

- Offer and Acceptance

- Legal Capacity of the Parties


Lesson 27: Avoiding Fraud and Void

- Reality of Consent

- Situations Lacking Mutual Consent

- Contract Validity

- Void and Voidable

- Oral Contracts


Lesson 28: Contract Termination

- Bilateral and Unilateral Contracts

- Executed and Executory

- Discharge and Termination of Contract

- Assignment

- Rescission

- Damages


Lesson 29: Sale Contracts

- Offer to Purchase

- Terms and Conditions

- Land Contract

- Option

- Right of First Refusal


Lesson 30: Handling Earnest Money Part 1

- What is Earnest Money?

- Problems with Earnest Money

- Forms of Earnest Money

- Things That Cannot be Deposited


Lesson 31: Handling Earnest Money Part 2

- Trust Funds

- Mortgage Fraud

- Earnest Money Responsibilities


Lesson 32: Handling Earnest Money Part 3

- Managing Community Associations

- Property Owned by Licensees

- Trust Accounts

- Ledgers

- WA Earnest Money Rules


Lesson 33: Qualifying the Borrower Part 1

- Loan Underwriting

- Borrower's Income

- Borrower's Net Worth

- Borrower's Credit History


Lesson 34: Qualifying the Borrower Part 2

- Qualifying the Borrower

- FHA Underwriting Standards

- VA Qualifying Standards

- Certificate of Reasonable Value


Lesson 35: Qualifying the Property Part 1

- Lender's Perception of Value

- Market Appraisal Approach

- Cost Appraisal Approach

- Income Appraisal Approach


Lesson 36: Qualifying the Property Part 2

- Understanding the Appraisal Process

- Low Appraisals

- Considerations in a Residential Appraisal

- Property Features


Lesson 37: Titles

- Property Description

- Land Titles

- Loan Settlement

- Truth - in - Lending Act

- Appraisal Process and Categories

- Property Characteristics


Lesson 38: The Loan Process

- Loan Application

- Analysis of Borrower and Property

- Application Information

- Loan Application Checklist


Lesson 39: Conventional Financing Part 1

- Conventional Loans

- Amortized Loans

- Conforming Loans

- Nonconforming Loans

- Secondary Financing

- Fully Amortized Loans

- Partially Amortized Loans


Lesson 40: Conventional Financing Part 2

- Private Mortgage Insurance

- How Mortgage Insurance Works

- PMI Cancellation

- Mortgage Delinquencies

- 90% Conventional Loans

- 95% Conventional Loans

- Easy Documentation Loans


Lesson 41: Alternative Financing

- Adjustable Rate Mortgage

- Negative Amortization

- ARM Disclosures


Lesson 42: FHA Loans

- Federal Housing Administration

- FHA Loan Features

- Loan Assumptions

- Mutual Mortgage Insurance

- FHA Mortgage Programs


Lesson 43: VA Loans

- VA Loan Guaranty Characteristics

- Entitlement

- Eligibility

- Default and Foreclosure

- VA Loan Process


Lesson 44: Fractions and Formulas

- Definitions and Measurements

- Fractions

- Adding and Subtracting Fractions

- Multiplying and Dividing Fractions

- Decimals

- Decimals, Fractions, and Percents

- Memory Formula

- Depreciation


Lesson 45: Proration

- Definitions

- Interest

- Taxes

- Insurance and Rent


Lesson 46: Measurements and Survey Systems

- Introduction

- Metes and Bounds

- Rectangular Survey System

- Lot and Block System

- Volume and Area


When Does My Course Expire?

Your course will expire one (1) year after you purchase it (the date you submit payment), unless the course itself indicates otherwise.

For more information about course expiration dates, please read Terms of Use.

How Quickly Will I Get My Certificate of Completion?

Once you finish your course and pass any required exams, you can print your certificate of completion right away.

What Can I Do If I Lose My Certificate?

If you lose your certificate of completion and need a new one, you can contact customer service at (877) 881-2235 or support@360training.com.

What If I Need a Refund for My Training Course?

If for some reason you are not happy and would like a refund, send us a request within 72 hours of purchase. Here are the eligibility requirements you must meet:

  • Your purchase was made no more than 72 hours prior to your refund request.
  • You have NOT
    • Attempted any portion of a test or exam.
    • Requested or been issued a certificate of completion.
    • Completed 50% or more of the purchased course.

If you meet all of these criteria, submit your refund request in writing via email to support@360training.com with a proof-of-purchase receipt and an explanation for why you are requesting a refund.

You can find more information about our refund policy here.

Regulatory Information

Name:Washington Department of Licensing
Website URL:https://www.dol.wa.gov/business/realestate/
Email Address:RealEstate@dol.wa.gov
Address:2000 Fourth Avenue West

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