Risk Management for Salespersons

Overview

Real estate licensees have critically important duties to both clients and other parties in a transaction—namely, confidentiality, honesty, and proper accounting and disclosure among others.  The course explores these duties as well as licensees’ responsibility to present the Real Estate Brokerage Services Disclosure form to consumers, which explains the options available for representation in a transaction. Elements of a real estate contract as well as contract do’s and don’ts are also reviewed. The course concludes with a review of how to manage the risk that’s involved in a short sale, when multiple offers and back-up offers are made, and when a property poses a flood risk. 

Learning Objectives

Upon completion of this course, students will be able to:

  • recognize the duties of a single agent, dual agent, transaction broker, and subagent
  • explain the provisions of the Real Estate Consumer Agency and Disclosure Act (RECAD)
  • identify the elements of a valid contract and the different types of listing agreements
  • describe the additional clauses that may be included in a sales agreement
  • identify the issues that may arise with multiple offers and back-up offers
  • describe how to manage the risk of a short sale
  • explain how to manage the risk of floods 

Designed For

AL real estate professionals of all levels

Prerequisites


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