Presenting Multiple Offers – Part 3 of 3 (video)

Presenting Multiple Offers, Part 3 of  3 parts

By Jeff Sorg, OnlineEd Blog

(January 11, 2018)

(PORTLAND-OR) Presenting multiple offers can get complicated and have unexpected results. Watch my three-part video, Presenting Multiple Offers.

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For more information about OnlineEd and their education for real estate brokers, principal brokers, property managers, and mortgage brokers visit www.OnlineEd.com.

All information contained in this posting is deemed correct as of the date of publication, but is not guaranteed by the author and may have been obtained from third-party sources. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.

OnlineEd® is a registered Trademark

Presenting Multiple Offers – Part 2 of 3 (video)

Presenting Multiple Offers, Part 2 of  3 parts

By Jeff Sorg, OnlineEd Blog

(January 10, 2018)

(PORTLAND-OR) Presenting multiple offers can get complicated and have unexpected results. Watch my three-part video, Presenting Multiple Offers. This is the second of three videos in this series. Click here to view the first video.

Did you miss Part 1? Click here to view.

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For more information about OnlineEd and their education for real estate brokers, principal brokers, property managers, and mortgage brokers visit www.OnlineEd.com.

All information contained in this posting is deemed correct as of the date of publication, but is not guaranteed by the author and may have been obtained from third-party sources. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.

OnlineEd® is a registered Trademark

Presenting Multiple Offers – Part 1 of 3 (video)

Presenting Multiple Offers, Part 1 of  3 parts

By Jeff Sorg, OnlineEd Blog

(January 9, 2018)

(PORTLAND-OR) Presenting multiple offers can get complicated and have unexpected results. Watch my three-part video, Presenting Multiple Offers.

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For more information about OnlineEd and their education for real estate brokers, principal brokers, property managers, and mortgage brokers visit www.OnlineEd.com.

All information contained in this posting is deemed correct as of the date of publication, but is not guaranteed by the author and may have been obtained from third-party sources. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.

OnlineEd® is a registered Trademark

 

 

As Rents Rise, Share of Adults Living with Roommates Higher than Ever Before

Across the country, thirty percent of adults live with a roommate or parent.

By Jeff Sorg, OnlineEd Blog

(January 2, 2018)


canstockphoto1718553 living with parents (SEATTLE) /PRNewswire
 — Nationally, nearly one in three adults live with a roommate or parent, the greatest share ever reported, according to a new Zillow® analysis. As rental affordability deteriorates, more U.S. adults may be choosing double up in order to cut costs.

A doubled-up household is where two or more working-aged adults live together but aren’t married or in a relationship — this could mean two millennial roommates or an adult living with parents. The share of doubled-up households has been steadily rising since the late 1990s, when just 23 percent of adults lived together.

The rise in doubled-up households coincides with increasingly unaffordable rental prices nationwide. Americans making the national median income should expect to put about 30 percent of their monthly income toward a rental payment, but in some markets the share is even greater. In Los Angeles, renters spend almost half of their monthly income on rent. In San Francisco, renters spend 42 percent of their income on rent each month.

“As rents have outpaced incomes, living alone is no longer an option for many working-aged adults,” said Zillow senior economist Aaron Terrazas. “By sharing a home with roommates — or in some cases, with adult parents — working adults are able to afford to live in more desirable neighborhoods without shouldering the full cost alone. But this phenomenon is not limited to expensive cities. The share of adults living with roommates has been on the rise in historically more affordable rental markets as well. Unless current dynamics shift and income growth exceeds rent growth for a sustained period of time, this trend is unlikely to change.”

Metros with the greatest share of adults doubling up also have some of the most expensive rents. In Los Angeles, almost 50 percent of adults live with a roommate or adult parent, the highest share of all markets analyzed. Los Angeles is the third most expensive rental market in the nation, with the median rent at $2,720per month.

Riverside, Calif. and Miami metros also have a high percentage of doubled-up households. In Riverside, almost 45 percent of adults are doubled up, along with 41 percent in Miami. Both metros are among the seven most expensive rental markets when ranked by the share of income going toward the typical rent payment.

When renters decide to move to a new place, a recent rent increase was likely the catalyst, according to the 2017 Zillow Group Consumer Housing Trends Report. Almost 80 percent of renters who moved from a previous rental experienced a rent increase before moving. And when renters start searching for a new place to live, 77 percent indicate that the rental being within their price range is a top requirement.

[Source: Zillow press release]

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Zillow is a registered trademark of Zillow, Inc.

For more information about OnlineEd and their education for real estate brokers, principal brokers, property managers, and mortgage brokers visit www.OnlineEd.com.

All information contained in this posting is deemed correct as of the date of publication, but is not guaranteed by the author and may have been obtained from third-party sources. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.

OnlineEd® is a registered Trademark

Video New Year Message from OnlineEd

Happy New message from OnlineEd

By Jeff Sorg, OnlineEd Blog

(January 2, 2018)

(PORTLAND, OR) – Here’s to yesterday’s achievements and tomorrow’s brighter future. Happy New Year from all of us at OnlineEd®!

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For more information about OnlineEd and their education for real estate brokers, principal brokers, property managers, and mortgage brokers visit www.OnlineEd.com.

All information contained in this posting is deemed correct as of the date of publication, but is not guaranteed by the author and may have been obtained from third-party sources. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.

OnlineEd® is a registered Trademark

Continuing Education for Oregon Real Estate License Renewal

How to renew an Oregon estate broker, principal broker, or property manager license with the Oregon Real Estate Agency

By Jeff Sorg, OnlineEd Blog

(December 29, 2017)

 

cropped-Logo_O_512_512.jpg  (PORTLAND-OR) OnlineEd – To renew an Oregon real estate license (broker, principal broker, or property manager) the licensee must pay a renewal fee and meet continuing education requirements.

Continuing Education Requirements

  • 30 hours of continuing education are required during the two years preceding license renewal;
  • At least 3 of the 30 hours must be in a course on recent changes in real estate rule and law, called the Law and Rule Required Course (LARRC);
  • A licensee renewing a license for the first time must take a Real Estate Board-approved 27-hour course on Broker Advanced Practices and a 3-hour course on recent changes in real estate rule and law (LARRC);
  • Continuing education courses, along with course objectives, must come from the Real Estate Board approved topics;
  • Continuing education must be provided by an Oregon Real Estate Agency approved Certified Continuing Education Provider to be eligible. OnlineEd is Certified Education Provider 1038;
  • The Certified Continuing Education Provider must ensure that persons who teach continuing education courses meet certain instructor qualification requirements; and
  • As part of the license renewal process, licensees will self-certify that they have met the continuing education requirement for the applicable renewal cycle.
  • While courses might be delivered by approved providers, it is still the licensee’s responsibility to see that the courses meet timing requirements and that the provider can prove the licensee’s time in the course to the Agency. This means that online courses must have timers and live lecture courses must have a method in place to verify time spent in attendance. A provider’s certificate of completion issued when the provider cannot prove time spent in the course will not be counted if discovered during an agency audit.

Eligible Course Topics

At least 3 of the 30 hours must be from a course on recent changes in real estate rule. The course on the recent rule and law changes is known as Law and Rule Required Course, commonly known by its acronym LARRC (“lark”). The remaining 27 hours of continuing education can come from any of these topics:

  • Principal broker or property manager record keeping
  • Principal real estate broker supervision responsibilities
  • Principal broker or property manager client trust accounts
  • Agency relationships and responsibilities for brokers, principal brokers, or property managers
  • Misrepresentation in real estate transactions
  • Property management
  • Advertising regulations
  • Real estate disclosure requirements
  • Real estate consumer protection
  • Anti-trust issues in real estate transactions
  • Commercial real estate
  • Real estate contracts
  • Real estate taxation
  • Real estate property evaluation, appraisal, or valuation
  • Fair Housing laws or policy
  • Managing a real estate brokerage
  • Business ethics
  • Risk management
  • Dispute resolution
  • Real estate finance
  • Real estate title
  • Real estate escrows
  • Real estate development
  • Condominiums
  • Subdivisions
  • Unit owner or homeowner associations
  • Timeshares
  • Water rights
  • Environmental protection issues in real estate
  • Land use planning, zoning, or other public limitations on use
  • Real estate economics
  • Real estate law or regulation
  • Negotiation

Specifically excluded from eligible continuing education are courses about these topics:

  • Real estate broker or property manager pre-licensing courses
  • Examination preparation classes
  • Sales meetings
  • Motivational classes or seminars
  • Time management classes or seminars
  • Sales and marketing classes or seminars
  • Psychology classes or seminars
  • Trade association orientation courses
  • Courses in standardized computer software programs not specifically related to one of the eligible topics
  • Courses with content that is specific to another state or jurisdiction

Certified Continuing Education Providers

For continuing education to qualify for license renewal, the education must be delivered by a Certified Continuing Education Provider. To qualify as a Certified Continuing Education Provider, the applicant must be one of the following:

  • An Oregon Real Estate Agency registered business name. Eligible applicants are a principal real estate broker or real estate property manager who conducts business under a registered business name.

A real estate trade association or a trade association in a related field but not the individual members of those associations. A “real estate trade association” is defined as a local, state, regional, or national organization with members that include real estate licensees.

A “trade association in a related field” means a local, state, regional, or national organization with members including, but not limited to, a certified or registered:

  • Private career school approved by the REA. A private career school means a school licensed by the Oregon Higher Education Coordinating Commission and approved by the REA to provide the 150-hour real estate license applicant course of study, the 60-hour property manager license applicant course, or both.
  • Distance-learning provider approved by the REA, which means a person whose course has been certified by the Association of Real Estate License Law Officials (ARELLO).
  • Appraisers, architects, attorneys, contractors, professional engineers, and tax professionals

A provider who does not meet one of the listed qualifications to become a certified continuing education provider may petition the Real Estate Board for approval. Once approved as a certified continuing education provider, the provider must:

  • ensure that a course offered is within the scope of one or more of the eligible course topics;
  • identify to the licensee which course topic the course covers;
  • ensure that the course meets the minimum length requirement of one credit hour (50 minutes);
  • assign each course a four-digit number that is unique to that course;
  • ensure that courses offered will meet the stated learning objective requirements;
  • ensure that the instructor who teaches a continuing education course meets the applicable instructor qualification requirements;
  • give each licensee who completes a course a course completion certificate; and
  • keep records of each course provided for three years.

Online License Renewal

Once the continuing education requirement is met and to renew a real estate license, licensees are required to use the REA’s online renewal system known as e-License. Real estate licenses cannot be renewed through the US mail.

During the online renewal, licensees are asked to certify that they have completed their required continuing education requirements. As part of their certification process, licensees will submit the information necessary to complete their renewal that is found on each certificate. Additionally, certificates must be kept by the licensee for three years after the renewal date for which the certificate was used for continuing education credit.

The REA’s eLicensing website is: https://orea.elicense.irondata.com

The REA required information to be included on all qualifying continuing education course certificates includes:

  • the licensee’s name and license number;
  • the REA certified course provider’s name and REA provider number;
  • the course name and identification number. This course identification number is a four-digit provider number assigned by REA, followed by the 4-digit course number assigned by the provider and registered with the REA;
  • the date, location, and length of time assigned to the course;
  • the eligible course topics covered, or whether the course is the three-hour Law and Rule Required Course, the Property Manager or Broker Advanced Practices Course, or the Brokerage Administration and Sales Supervision course; and
  • the name of the instructor.

Click here visit a list of approved continuing education courses.

Click here to enroll in the FREE 3-hour approved Law and Rule Required Course, LARRC.

OnlineEd® is an Oregon Real Estate Agency Certified Continuing Education Course Provider No. 1038.

 

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For more information about OnlineEd and their education for real estate brokers, principal brokers, property managers, and mortgage brokers visit www.OnlineEd.com.

All information contained in this posting is deemed correct as of the date of publication, but is not guaranteed by the author and may have been obtained from third-party sources. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.

OnlineEd® is a registered Trademark

Leonard and Penny Named Most Desirable Neighbors for 2018; The Simpsons Named Least Desirable

One in three Americans say the Simpsons would be the worst TV family to have next door

By Jeff Sorg, OnlineEd Blog

(December 27, 2017)

(SEATTLE) PRNewswire – Americans would most like to be neighbors with Leonard Hofstadter and Penny from CBS’s The Big Bang Theory, according to the 11th annual Zillow® Celebrity Neighbor Survey. The Simpson family from FOX’s The Simpsons were named the least desirable TV neighbors for 2017.

For the first time ever, Zillow rolled out a new questionnaire for its annual celebrity neighbor survey. The 2017 survey asks U.S. adults which fictional characters from popular television shows they would most like to have as a neighbor and with whom they wouldn’t want to share a fence.

Most Desirable Neighbors in 2018
Leonard and Penny from The Big Bang Theory are the top choice for neighbors in 2018, earning 19 percent of surveyed adults’ votes. The couple received strong results from voters across different genders, generations and education levels, but was slightly less popular among voters from the West, earning just 16 percent of their votes.

The Dunphys from ABC’s Modern Family and the Simpsons tied for the second most desirable neighbors, with 11 percent of the votes each. Will and Grace from NBC’s newly revitalized sitcom of the same name rounded out the top four rankings, earning just 10 percent of the votes, followed by Jack and Rebecca Pearson from NBC’s This is Us (9 percent) and the Johnsons from ABC’s Black-ish (5 percent).

Least Desirable Neighbors from 2017
The Simpsons topped the list of least desirable neighbors from television with 31 percent of the votes. Adults over the age of 55 were most likely to name the family as the least desirable neighbors (at 38 percent), while only 24 percent of millennials cited the Simpsons as the least desirable neighbors in the poll.

The Lannisters from HBO’s Game of Thrones came in second on the list with 21 percent of the votes, ranking much higher than the rest of the competitors, including Sheldon Cooper and Amy Farrah Fowler from The Big Bang Theory (9 percent), Olivia Pope from ABC’s Scandal (6 percent) and the Jennings from FX’s The Americans (5 percent).

The Big Bang Theory is one of the most popular shows on television, so it is not surprising that American adults chose its leading couple as the most desirable neighbors for 2018,” said Jeremy Wacksman, chief marketing officer at Zillow. “On the other hand, it wouldn’t be easy to live next to the Simpsons, who have spent nearly 30 seasons causing chaos for neighbor Ned Flanders and the rest of Springfield. However, as the stars of one of TV’s longest-running shows, The Simpsons are certainly beloved by some: they also tied for second on the most desirable neighbor list.”

Thirty-five percent of surveyed adults said they would not want to live next to any of the characters listed in the poll.

Most Desirable Neighbors for 2018 Least Desirable Neighbors of 2017
Name Percent Name Percent
Leonard Hofstadter and Penny (The Big Bang Theory) 19% The Simpsons (The Simpsons) 31%
The Simpsons (The Simpsons) 11% The Lannisters (Game of Thrones) 21%
The Dunphys (Modern Family) 11% Sheldon Cooper and Amy Farrah Fowler (Big Bang Theory) 9%
Will & Grace (Will & Grace) 10% Olivia Pope (Scandal) 6%
Jack and Rebecca Pearson (This is Us) 9% The Jennings (The Americans) 5%
The Johnsons (Black-ish) 5% None of the above 27%
None of the above 35%

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For more information about OnlineEd and their education for real estate brokers, principal brokers, property managers, and mortgage brokers visit www.OnlineEd.com.

All information contained in this posting is deemed correct as of the date of publication, but is not guaranteed by the author and may have been obtained from third-party sources. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.

OnlineEd® is a registered Trademark

HUD Reports Home Sales Rise 26.6 Percent (±16.6 percent)

Median Sale Price Hits $377,100

By Jeff Sorg, OnlineEd Blog

(December 22, 2017)

hud(WASHINGTON, D.C. – HUD) Sales of new single-family houses in November 2017 were at a seasonally adjusted annual rate of 733,000. This is 17.5 percent (±10.4 percent) above the revised October rate of 624,000 and is 26.6 percent (±16.6 percent) above the November 2016 estimate of 579,000.

The median sales price of new houses sold in November 2017 was $318,700. The average sales price was $377,100.

The seasonally adjusted estimate of new houses for sale at the end of November was 283,000. This represents a supply of 4.6 months at the current sales rate.

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For more information about OnlineEd and their education for real estate brokers, principal brokers, property managers, and mortgage brokers visit www.OnlineEd.com.

All information contained in this posting is deemed correct as of the date of publication, but is not guaranteed by the author and may have been obtained from third-party sources. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.

OnlineEd® is a registered Trademark

Homelessness Increases

There were 58,000 families with children experiencing homelessness on a single night in 2017

By Jeff Sorg, OnlineEd Blog

(December 7, 2017)

canstockphoto20042851homeless4WASHINGTON – There is a great deal of variation in the data in different parts of the country, however, and many places continue to see reductions in homelessness. Thirty (30) states and the District of Columbia reported decreases in homelessness between 2016 and 2017. Challenges in some major metropolitan areas, however, have had a major impact on the national trend lines.

For example, the City and County of Los Angeles reported a nearly 26 percent increase in overall homelessness since 2016, primarily among those persons found in unsheltered locations. Meanwhile, New York City reported a 4.1 increase, principally among families in emergency shelters and transitional housing. Excluding these two areas, the estimated number of Veterans experiencing homeless in other parts of the nation decreased 3.1 percent since 2016.

“In many high-cost areas of our country, especially along the West Coast, the severe shortage of affordable housing is manifesting itself on our streets,” said HUD Secretary Ben Carson. “With rents rising faster than incomes, we need to bring everybody to the table to produce more affordable housing and ease the pressure that is forcing too many of our neighbors into our shelters and onto our streets. This is not a federal problem-it’s everybody’s problem.”

“The fact that so many parts of the country are continuing to reduce homelessness gives us confidence that our strategies-and the dedicated efforts of communities to embrace best practices-have been working,” said Matthew Doherty, executive director of the U.S. Interagency Council of Homelessness. “At the same time, we know that some communities are facing challenges that require us to redouble our efforts across all levels of government and the public and private sectors, and we are committed to doing that work.”

“Our joint community-based homelessness efforts are working in most communities across the country. Despite a slight increase in overall Veteran homelessness, I am pleased that the majority of communities in the U.S. experienced declines over the past year,” said U.S. Department of Veterans Affairs Secretary David Shulkin. “VA remains committed to helping Veterans find stable housing. We will continue to identify innovative local solutions, especially in areas where higher rents have contributed to an increase in homelessness among Veterans.”

HUD’s national estimate is based upon data reported by approximately 3,000 cities and counties across the nation. Every year on a single night in January, planning agencies called ‘Continuums of Care” and tens of thousands of volunteers seek to identify the number of individuals and families living in emergency shelters, transitional housing programs and in unsheltered settings. These one-night ‘snapshot’ counts, as well as full-year counts and data from other sources (U.S. Housing Survey, Department of Education), are crucial in understanding the scope of homelessness and measuring progress toward reducing it.

Key Findings of HUD’s 2017 Annual Homeless Assessment Report:

On a single night in January 2017, state and local planning agencies (Continuums of Care) reported:

  • 553,742 people were homeless representing an overall .7 percent increase from 2016 and a 13.1 percent decrease since 2010.
  • Most homeless persons (360,867) were located in emergency shelters or transitional housing programs while 192,875 persons were unsheltered.
  • The number of families with children experiencing homelessness declined 5.4 percent since 2016 and 27 percent since 2010.
  • Veteran homelessness increased 1.5 percent (or 585 persons) since January 2016, primarily in California cities. Since 2010, however, Veteran homelessness declined nationally by 46 percent. On a single night in January 2017, 40,056 veterans were experiencing homelessness.
  • Chronic or long-term homelessness among individuals increased 12.2 percent over 2016 levels though declined by 18 percent (or 19,100 persons) since 2010.
  • The number of unaccompanied homeless youth and children in 2017 is estimated to be 40,799. This year, HUD and local communities launched a more intense effort to more accurately account for this important, difficult to count population. HUD will treat 2017 as a baseline year for purposes of tracking progress toward reducing youth homelessness.

Homelessness Among All Persons

The total number of persons experiencing homelessness on a single night last January is 553,742, an increase of 0.7 percent from January 2016 largely attributed to the jump in unsheltered homelessness in larger cities in the West Coast

Family Homelessness

There were 58,000 families with children experiencing homelessness on a single night in 2017, a decline of 5.4 percent from the year before and a 27 percent reduction since 2010. These significant reductions in family homelessness is largely attributed to the expansion of Rapid Rehousing Programs across the country and a concerted effort by local planners to reallocate scarce resources in a more strategic way. These ‘Housing First’ models have proven to be a more effective and efficient response to families experiencing temporary crisis as well as those enduring the most chronic forms of homelessness.

 

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For more information about OnlineEd and their education for real estate brokers, principal brokers, property managers, and mortgage brokers visit www.OnlineEd.com.

All information contained in this posting is deemed correct as of the date of publication, but is not guaranteed by the author and may have been obtained from third-party sources. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.

OnlineEd® is a registered Trademark

Investors Indicted for Bid Rigging at Real Estate Auctions

The Antitrust Division has prosecuted bid-rigging in multiple states

By Jeff Sorg, OnlineEd Blog

(November 7, 2017)

canstockphoto8484345aution sold(WASHINGTON, DC) A federal grand jury in West Palm Beach has returned an indictment against three high-volume Florida real estate investors for conspiring to rig bids submitted through the online property foreclosure auction process, the Department of Justice announced on November 3, 2017.

The indictment, filed in the U.S. District Court for the Southern District of Florida, charges three individuals with conspiring to rig bids during online auctions in Palm Beach County, Florida to obtain foreclosed properties at suppressed prices. The indictment alleges that the conduct took place from at least January 2012 until June 2015.

These are the first indictments related to bid-rigging in foreclosure auctions filed in Florida by the Justice Department’s Antitrust Division. The Antitrust Division previously has prosecuted similar bid-rigging conduct in Alabama, California, Georgia and North Carolina, resulting in more than 100 guilty pleas and convictions in those states.

 

A real estate investor pleaded guilty to his role in a conspiracy to rig bids at public real estate foreclosure auctions in Northern California, the Department of Justice announced earlier this month.

According to court documents, the individual participated in a conspiracy to rig bids by agreeing to refrain from bidding against other co-conspirators at public real estate foreclosure auctions in San Mateo County. The conspiracy began no later than August 2008 and continued until January 2011 and had as its primary purpose to suppress competition to obtain selected properties offered at San Mateo County public foreclosure auctions at non-competitive prices.

The Department of Justice has an ongoing investigation into bid rigging at public real estate foreclosure auctions in San Francisco, San Mateo, Contra Costa, and Alameda counties, California. To date, 74 individuals have pleaded guilty or been convicted at trial.

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For more information about OnlineEd and their education for real estate brokers, principal brokers, property managers, and mortgage brokers visit www.OnlineEd.com.

All information contained in this posting is deemed correct as of the date of publication, but is not guaranteed by the author and may have been obtained from third-party sources. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.

OnlineEd® is a registered Trademark