RISK MANAGEMENT

 

• Real Estate Consumers Agency and Disclosure Act (RECAD) disclosures
• Real Estate Brokerage Services Disclosure form
• Required duties when working with buyers, sellers, and the general public
• Proper advertising requirements
• Misrepresentation and caveat emptor
• “As is” properties
• Permitted activities of unlicensed persons when presenting properties
• Trust fund handling and record retention requirements
• Closing cost estimates
• Personal interest disclosure
• Presentation of offers and counter-offers
• Qualifying broker responsibilities and risk management practices