2020 Hawaii Core B - Principal Brokers: The Buck Stops Here!

Overview

Principal brokers represent their brokerage firms and are legally responsible for managing and supervising the firm's licensees. Held to a higher standard of accountability and responsibility, principal brokers must have a solid understanding of the duties imposed by Hawaii statutes and regulations.

This three-hour course provides a comprehensive overview of a principal broker's responsibilities with respect to the supervision of licensees, advertising, record keeping, development of training programs, and licensing oversight. It also explains principal brokers' duties with regard to establishing client trust accounts and why it's critically important to implement and regularly update a firm's policies and procedures manual.

Learning Objectives

Upon completion, students will be able to:

  • describe the responsibilities of the principal broker for the direct management and supervision of licensees in operations, training, and continuing education
  • identify the purpose of client trust accounts and the responsibilities of principal brokers and brokers-in-charge with respect to these accounts
  • explain the purpose of a policies and procedures manual and its contents
  • recognize what constitutes a "principal place of business"
  • identify the consequences when a principal broker is absent from the brokerage firm or needs to be permanently replaced
  • describe real estate licensees' obligations when a transaction involves property they own

Designed For

Hawaii real estate brokers and sales agents
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