The Oregon Real Estate Board has approved new content for the Law and Rule Required Course (LARRC). As a certified continuing education provider, ProSchools anticipates offering the new LARRC course online by January 1, 2012. Here is a quick summary of LARRC requirements:
· Brokers (not renewing for the first time), principal brokers and property managers must complete the 3-hour Law and Rule Required Course (LARRC) and at least 27 hours of eligible continuing education.
· Brokers renewing active for the first time must take the Advanced Real Estate Practices (AP) and the 3-hour Law and Rule Required Course (LARRC).
· All brokers, principal brokers and property managers must take the three-hour LARRC course from a certified continuing education provider prior to renewing an inactive license.
The new LARRC course content includes:
Mandatory Course Subjects:
- Chapter 158, Oregon Laws 2011 (Senate Bill 156)
- Chapter 557, Oregon Laws 2011 (Senate Bill 485)
- Real Estate Broker, Principal Real Estate Broker and Licensed Real Estate Property Manager Administrative Rules and Statutes
- Radon
- Real Estate Agency Subscription Services
Optional Course Subjects
- 2009 Oregon Legislation and Rules
- Review of recent administrative actions taken against licensees found in the Oregon Real Estate News-Journal
- Advertising requirements
- Exemptions from licensing
- Transfer of license requirements
- Clients' trust accounts for principal brokers
- Clients' trust accounts for property managers
- Principal broker record-keeping requirements
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