Residential Trading Services Applied Practice Course. New Residential Trading Services Applied Practice Course. An Overview

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1 Residential Trading Services Applied Practice Course New Residential Trading Services Applied Practice Course An Overview

2 Redesigned Applied Practice Courses Both the Commercial and Residential Trading Services Applied Practice Courses have been completely redesigned The new Residential Trading Services Applied Practice course will launch January 2015 The new Commercial Trading Services Applied Practice course will launch April

3 Benefits of the New Course Course content now focuses on regulatory compliance and practical skills Gives learners opportunities to practice and apply their knowledge, skills and abilities Uses a blended learning model: learn online, in class, and in the field 3

4 Course Framework Online Modules Agency, Disclosure, Contracts -to- Temporary Licence Online modules + Field Assignment -to- Pre-licensing 14 days 2 days Post-licensing 4.5 month timeframe 1 day

5 Course Framework Learners will take the first two components of the course before they are licensed: Component One: two weeks of online learning focusing on regulatory knowledge Component Two: two days of in-class instruction and role-playing on working with a buyer and a seller, and drafting contracts After learners are licensed, they must complete two further components of the course: Component Three: online modules and field assignments focusing on real-life experiences as a licensee Component Four: one day of in-class instruction and suggestions for continued professional development and skill enhancement 5

6 Component One Online Modules Agency, Disclosure, Contracts -to- Temporary Licence Online modules + Field Assignment -to- Pre-licensing 14 days 2 days Post-licensing 4.5 month timeframe 1 day

7 Component One Learners will In order to Learn the How, the Why and the Tools for regulatory compliance Be assessed through quizzes, activities, and final assignments Use Council website, the Professional Standards Manual, Council Rules and standard industry forms Put the knowledge of regulations into action as part of their daily professional practice Identify areas in which they need to strengthen their knowledge develop confidence and competence with regulatory requirements

8 Component Two Online Modules Agency, Disclosure, Contracts -to- Temporary Licence Online modules + Field Assignment -to- Pre-licensing 14 days 2 days Post-licensing 4.5 month timeframe 1 day

9 Component Two Learners will In order to spend 2 days in the classroom Day 1: Listing with sellers Day 2: Working with buyers work in small groups practice how to carry out the duties of a licensee through role play activities develop confidence and competence with regulatory requirements develop language and skills needed for the profession assess their own abilities and receive feedback from instructor and peers

10 Component Three Online Modules Agency, Disclosure, Contracts -to- Temporary Licence Online modules + Field Assignment -to- Pre-licensing 14 days 2 days Post-licensing 4.5 month timeframe 1 day

11 Component Three Learners Complete Field Assignments: 1) Listing a Property for Sale Representing a Seller 2) Establishing Agency and Providing Trading Services to or on behalf of a Buyer 3) Holding an Open House Your Agency Responsibilities 4) Researching Properties 5) Completing a Contract of Purchase and Sale 6) Presenting an Offer and Negotiating a Counter-Offer

12 Component Three Learners field assignments are designed to complement the licensed activity they are participating in at their brokerages As part of a Managing Broker s responsibilities under Council Rule 3.1 and Section 6(2) of RESA, they are encouraged to guide and support learners completing Applied Practice course assignments Managing brokers will have opportunities to receive pre-launch training, support and resources (including course materials)

13 Component Four Online Modules Agency, Disclosure, Contracts -to- Temporary Licence Online modules + Field Assignment -to- Pre-licensing 14 days 2 days Post-licensing 4.5 month timeframe 1 day

14 Component Four Brings learners together for a final day of in-class review Content is tailored to the needs of the student group as determined by instructors The focus is on core competencies Learners complete a final self-assessment and receive suggestions for future professional development to strengthen their skills

15 Feedback: What We ve Heard I was impressed with the agency section and its format. If the rest of it is as good as what I ve seen so far then I truly think you have a course about which you can take a lot of pride. 100% improvement to the Post Licensing Education in BC. On behalf of all Managing Brokers in BC. Thank you! All in all I was VERY impressed with the course and the interaction that it required and allowed ---You (BCREA) did an AWESOME job. After taking this course new licensees will be much better prepared and educated than they are today.

16 Feedback: What We ve Heard There should be a full introduction to the discussion forums and tips and FAQ s available, especially important for any student that has never participated in an online forum before. Tips on how to participate, and even basics like how to post a message in the forums will be essential. We may take it for granted, but it could be an intimidating prospect for someone not familiar with the online forum environment especially if English is not their first language, which is 20 to 30% (or more) of our current learners. Having learners practice in the classroom before being licensed will benefit the individual licensee as well as the profession.

17 Feedback: What We ve Heard After reviewing all of the assignments, I found them very easy to follow, as well the instructions. I agree that the abbreviations can be daunting especially for new learners. I may have missed this in my journey through the assignments, but I did not see anything on the challenge of Measuring a House or Strata. Would it be included in resource area? Overall the flow is great, and I am still pondering the reflection question.

18 Feedback: What We ve Heard Overall, very thorough, informative and required material and should be expected knowledge for licensees. Is not onerous for MBs and new licensees.