BROKER MANAGEMENT CLINIC #1-Statutes and Rules
BROKER MANAGEMENT CLINIC (BMC #1 – Statutes and Rules)
Course Credits: 3 Hours
Category: Commissioner’s Standards
Who is Required to Take BMC Courses?
This 9-hour Broker Management Clinic (BMC) is mandatory for:
- Renewing Designated Brokers.
- Renewing Delegated Associate Brokers delegated authority under A.R.S § 32-2151.01(G).
- Original Broker Applicants must complete the BMC before their broker’s license is activated.
Course Description: Broker Supervision & Control Audit Declaration and BMC #1 – Statutes and Rules
This comprehensive course is designed to provide Arizona real estate brokers with a thorough understanding of their legal responsibilities, compliance requirements, and best practices for effective brokerage management. The course includes in-depth coverage of the Broker Supervision & Control Audit Declaration, record-keeping standards, property management regulations, trust account management, advertising compliance, delegation of authority, and related statutes and rules.
BMC #1 – Statutes and Rules focuses on the critical elements of Arizona real estate law, emphasizing Commissioner’s Rules, Substantive Policy Statements, Arizona Revised Statutes, fiduciary duties, trust fund accounts, material disclosures, contracts, employment agreements, advertising and promotions, ADRE investigations, broker audits, and more.
Course Objectives:
- Understand and fulfill the requirements of the Broker Supervision & Control Audit Declaration.
- Gain detailed knowledge of Commissioner’s Rules, Substantive Policy Statements and related Arizona Revised Statutes.
- Master statutory record-keeping, property management, and trust fund compliance requirements.
- Learn best practices for advertising and material disclosures.
- Develop systems for effective supervision, delegation, and broker management.
- Prepare for ADRE audits and inspections with confidence.
Who is Not Required to Take the New BMC?
- Salespersons or brokers acting as the Designated Broker during the broker’s temporary absence under A.R.S § 32-2127(D).
- Salespersons or Associate Brokers acting as Branch Managers under A.R.S § 32-2127(B) & (C), except Delegated Associate Brokers with authority under A.R.S § 32-2151.01(G).
- Temporary brokers licensed for winding up the business of a deceased Designated Broker under A.R.S § 32-2133.
- Designated Brokers or Delegated Associate Brokers who completed the 3-hour BMC during the current license period and before January 1, 2013.
This course is ideal for Designated Brokers, Delegated Associate Brokers, and original broker applicants committed to meeting Arizona’s real estate compliance standards. Through engaging content and real-world examples, this course empowers brokers to protect client trust, ensure operational efficiency, and adhere to legal and ethical obligations.
Lessons
0-Orientation of Online CE Class-BMC 1
1-Broker Supervision & Control Audit Declaration
Please Read: You must complete the fill-in-the-blanks below in order to start the quiz. Before you enter your data in the Broker Audit Declaration, you will see this…
2. General Records Compliance
GENERAL RECORDS COMPLIANCE The General Records Compliance chapter ensures that brokers and licensees maintain appropriate signage, advertising, license display, and accessibility standards as required by Arizona statutes and administrative rules.…
3. General Records Compliance & Broker Review
Transaction Records Compliance Proper maintenance of transaction records is a cornerstone of compliance for brokers in Arizona. Statutory requirements ensure accountability, transparency, and adherence to professional standards in the handling…
4. Section 1 Exam – BMC # 1 Statutes and Rules
You will need to wait for the timer to run out before you can submit the Exam.
5. Employment & Compensation
6. Employment & Compensation – Part 2
Section 5: Employment & Compensation Compliance This section outlines the rules regarding agent exclusivity, the use of unlicensed assistants, and telemarketers in brokerage operations. These regulations ensure proper licensing, compensation…
7. Disclosures – Broker Supervision
Section 6: Disclosures – Broker Supervision This section covers the disclosure requirements for brokers and their agents in advertising, signage, and transactions to ensure transparency and compliance with Arizona real…
8. Disclosures – Broker Supervision – Part 2
This section elaborates on the duties of brokers and their agents in ensuring professional competence, fulfilling client obligations, and adhering to ethical and legal standards in Arizona real estate practices.…
9. Section 2 Exam – BMC # 1 Statutes and Rules
You will need to wait for the timer to run out before you can submit the Exam.
10. Sale/Lease Transaction Records
Record Retention Requirements Key Statutes: A.R.S. § 32-2151.01(A): Broker Record-Keeping Requirements: Brokers must maintain records for all transactions handled through their brokerage, including: Earnest money receipts confirming proper handling. Closing…
11. Earnest Deposits
This section provides detailed guidance on managing earnest deposits and trust accounts in compliance with Arizona statutes. It covers the responsibilities of agents and brokers, the requirements for handling funds,…
12. Delegation of Authority
This section provides guidance on the delegation of authority by a designated broker to appropriate personnel. Proper delegation ensures operational efficiency while maintaining compliance with Arizona real estate statutes and…
13. Section 3 Exam – BMC # 1 Statutes and Rules
You will need to wait for the timer to run out before you can submit the Exam.
14. Broker Supervision & Control
Broker Supervision and Written Policies The Arizona Administrative Code (A.A.C.) R4-28-1103 outlines the responsibilities of employing and designated brokers regarding the supervision and control of their brokerage operations. Brokers are…
15. Property Management & Agreements
The Brokerage Conducts Property Management? If the brokerage does not conduct property management, skip to the “Additional Explanation” section on Page 8. If the brokerage does conduct property management, continue…
16. Property Management Records
Effective record-keeping is a cornerstone of successful property management. Adherence to Arizona Revised Statutes (A.R.S.) ensures compliance with legal requirements and fosters trust between property managers, property owners, and tenants.…
17. Property Management Trust Account
Section 14: Property Management Trust Accounts Overview of Property Management Trust Accounts Property management trust accounts are specialized bank accounts established and maintained by real estate brokers to safeguard and…
18. Section 4 Exam – BMC # 1 Statutes and Rules
You will need to wait for the timer to run out before you can submit the Exam.
19. Substantive Policy Statements
This Substantive Policy Statement is intended to inform the regulated real estate education industry of the Department’s interpretation and implementation of the education statutes and rules under the Department’s original…
20. Unlicensed Assistants
Arizona Department of Real Estate SUBSTANTIVE POLICY STATEMENT No. 2017.01 Short Title: Unlicensed Assistants This substantive policy statement is advisory only. A substantive policy statement does not include internal procedural…
21. Real Estate Advertising Rules & Guidance
The Advertising of Real Property is Regulated by Law: Arizona real estate law defines “advertising” as: The attempt by publication, dissemination, exhibition, solicitation or circulation, oral or written, or for…
22. ADRE Rules And Policy Regarding Providing Information To A Client
ADRE RULES AND POLICY STATEMENTS The Arizona Department of Real Estate (“ADRE”) has the authority to promulgate Administrative Rules, which are often referred to as “Commissioner’s Rules” and Substantive Policy…
23. Section 5 Exam – BMC # 1 Statutes and Rules
You will need to wait for the timer to run out before you can submit the Exam.
24. Place of Business Required & Broker’s Temporary Absence
32-2127. Licenses for additional places of business; branch office manager; broker’s temporary absence A. When a broker maintains more than one place of business within the state, he shall be…
25. Unlawful Acts
32-2163: Unlawful acts; out-of-state broker; cooperation agreement A. It is unlawful for any licensed broker in this state to employ or compensate, directly or indirectly, any person for performing any of…
26. Real Estate Sales and Leases Disclosure
32-2156: Real estate sales and leases; disclosure A. No criminal, civil or administrative action may be brought against a transferor or lessor of real property or a licensee for failing to…
27. Section 6 Exam – BMC # 1 Statutes and Rules
You will need to wait for the timer to run out before you can submit the Exam.
28. Final Exam – BMC #1-Statutes and Rules
The Final is not timed. Once you have passed this final… For The BROKER MANAGEMENT CLINIC #1-Statutes and Rules Remember to PRINT OUT YOUR CERTIFICATE, and then you may move on…
