Liability & Risk in Operating a Real Estate Brokerage
As real estate agents and brokers, we take on risk daily as we advise and guide our clients. Learn about how to provide excellent client service without increasing your liability.
The Self Defense CMA is Also Good Client Service
Precedent has been set in the courts for suits against buyer representatives for improper advice to buyers regarding the value of homes they purchased. Learn how to do a self defense CMA.
Precedent has been set in the courts for suits against buyer representatives for improper advice to buyers regarding the value of homes they purchased. Learn how to do a self defense CMA.
Delivery Receipt of Email Containing Documents - Proving It
With email increasing in popularity, many real estate documents are being delivered this way. Generally, they are an Acrobat.pdf attachment to an email. Can you prove yours was delivered, opened, and when?
With email increasing in popularity, many real estate documents are being delivered this way. Generally, they are an Acrobat.pdf attachment to an email. Can you prove yours was delivered, opened, and when?
Document Management and Real Estate Liability
Real estate liability for the brokerage is something that should be carefully investigated and actions taken to reduce it. Document management is one facet of real estate liability that isn't expensive to do right, but it's very important.
Real estate liability for the brokerage is something that should be carefully investigated and actions taken to reduce it. Document management is one facet of real estate liability that isn't expensive to do right, but it's very important.
Phone Call Records for Reduced Liability & Better Transactions
We've all experienced transaction problems when something someone told us on the phone wasn't done, or if the statement just wasn't accurate, or if we just forgot some of the details as related to us. Short of recording phone calls, a legal issue that's different by state laws, how can we improve on this situation?
We've all experienced transaction problems when something someone told us on the phone wasn't done, or if the statement just wasn't accurate, or if we just forgot some of the details as related to us. Short of recording phone calls, a legal issue that's different by state laws, how can we improve on this situation?
Transaction Document Retention - Getting it Together
Document retention is a critical part of the business of real estate brokerage. Accurate, legible and easily located documents are a necessity. Here are some simple and inexpensive ways to get all those emails, faxes, and even voice notes into one easily-accessed transaction file.
Document retention is a critical part of the business of real estate brokerage. Accurate, legible and easily located documents are a necessity. Here are some simple and inexpensive ways to get all those emails, faxes, and even voice notes into one easily-accessed transaction file.
Broker Management of Real Estate Agent Email Procedures and Filing
Federal regulations state that, in federal court actions, all pertinent email records can be required in pre-trial discovery. If you don't know what your agents are doing with respect to email retention, the liability will ultimately be with you, the responsible broker. Develop a written procedure that spells out how your agents are to permanently file all emails in a format that is universally recoverable years into the future.
Federal regulations state that, in federal court actions, all pertinent email records can be required in pre-trial discovery. If you don't know what your agents are doing with respect to email retention, the liability will ultimately be with you, the responsible broker. Develop a written procedure that spells out how your agents are to permanently file all emails in a format that is universally recoverable years into the future.
Protect Your Brokerage with a Policy on Copyright for Your Agents
As the broker under which your agents do business, your liability is increased exponentially when they're all out there building web sites and posting furiously to blogs to build business. Have a written policy reviewed by your attorney that makes it clear what your agents can and cannot do when developing their sites, blogs and printed materials. It should define copyright, infringement and how agents should get their content.
As the broker under which your agents do business, your liability is increased exponentially when they're all out there building web sites and posting furiously to blogs to build business. Have a written policy reviewed by your attorney that makes it clear what your agents can and cannot do when developing their sites, blogs and printed materials. It should define copyright, infringement and how agents should get their content.
Is Your MLS Property Entry Protected by Copyright Law?
A compilation of factual material can be protected by copyright. If this material is presented in an original or creative manner, then it generally is protected by copyright law. This means your descriptions and photos of listed properties should be protected from infringement.
A compilation of factual material can be protected by copyright. If this material is presented in an original or creative manner, then it generally is protected by copyright law. This means your descriptions and photos of listed properties should be protected from infringement.
Per Se Antitrust Actions in the Real Estate Brokerage Business
There are many areas of the real estate business that can run afoul of the federal antitrust statutes. Real estate agents and brokers should be on guard at all times to avoid behavior or discussions that might be construed at fixing pricing or commissions, fixing commission coop offerings, listing terms or other listing contract items or boycotting competitors or suppliers.
There are many areas of the real estate business that can run afoul of the federal antitrust statutes. Real estate agents and brokers should be on guard at all times to avoid behavior or discussions that might be construed at fixing pricing or commissions, fixing commission coop offerings, listing terms or other listing contract items or boycotting competitors or suppliers.
Emails Can Be Required for Pre-trial Disclosure in Federal Actions
With so many of our activities as real estate agents and brokers falling under rules from the EPA, HUD and other federal agencies, it's always possible that you could end up in court concerning a transaction. It's the law that you surrender all pertinent emails in pre-trial discovery. You can't get away with deleting them either.
With so many of our activities as real estate agents and brokers falling under rules from the EPA, HUD and other federal agencies, it's always possible that you could end up in court concerning a transaction. It's the law that you surrender all pertinent emails in pre-trial discovery. You can't get away with deleting them either.
The C.L.U.E. Report and it's Importance to Buyers and Sellers of Real Estate
C.L.U.E. (Comprehensive Loss Underwriting Exchange) Reports give the insurance claim and loss history for a residential property. Insurers regularly report property losses to a company that compiles the C.L.U.E. Report to a homeowner. Only the homeowner or a prospective insurer can order it.
C.L.U.E. (Comprehensive Loss Underwriting Exchange) Reports give the insurance claim and loss history for a residential property. Insurers regularly report property losses to a company that compiles the C.L.U.E. Report to a homeowner. Only the homeowner or a prospective insurer can order it.
People Types that Make Great Plaintiffs
Over time, real estate agents and brokers are being held to ever-higher standards of practice. Can you recognize the types of clients that seem to make the best plaintiffs in suits against real estate professionals? You may still choose to work with a client, but it's wise to know when to be extra careful.
Over time, real estate agents and brokers are being held to ever-higher standards of practice. Can you recognize the types of clients that seem to make the best plaintiffs in suits against real estate professionals? You may still choose to work with a client, but it's wise to know when to be extra careful.
Things You Need to Know About Lead Base Paint Disclosure
The EPA (Environmental Protection Agency) is dead serious about enforcement of the regulations concerning lead base paint disclosure. These regs specifically make the real estate agents in a transaction liable along with the seller(s) if disclosure is not properly handled.
The EPA (Environmental Protection Agency) is dead serious about enforcement of the regulations concerning lead base paint disclosure. These regs specifically make the real estate agents in a transaction liable along with the seller(s) if disclosure is not properly handled.
Send Those Emails to the Trash Bin - Know the Risks
With so much communication going on today via email, it's only natural that real estate agents and brokers would be working with clients via email in many cases. Even in the same town, email is a fast and convenient way to move documents or notify of events. Don't think that those emails aren't needed after the deal closes.
With so much communication going on today via email, it's only natural that real estate agents and brokers would be working with clients via email in many cases. Even in the same town, email is a fast and convenient way to move documents or notify of events. Don't think that those emails aren't needed after the deal closes.
Is Your Use of Copyrighted Material Covered by the Fair Use Defense?
In the Copyright Act, four factors are used to determine whether the use of copyrighted material is "fair use". These considerations are way the work is used and its purpose, the amount used in relation to the size of the entire work, the effect of the use on the marketability of the original work, the type or nature of the copyrighted work.
In the Copyright Act, four factors are used to determine whether the use of copyrighted material is "fair use". These considerations are way the work is used and its purpose, the amount used in relation to the size of the entire work, the effect of the use on the marketability of the original work, the type or nature of the copyrighted work.
Buy Property for Your Own Account - Know the Risks
Don't end up in front of a jury trying to explain how you came to purchase a property at an advantageous price when the seller called you to list it. Your risk is very high in this type of transaction.
Don't end up in front of a jury trying to explain how you came to purchase a property at an advantageous price when the seller called you to list it. Your risk is very high in this type of transaction.
Document Retention Aided by MS Outlook Rules
Document retention policies and procedures are necessary for real estate brokerage management. Streamlining the capture of documents with MS Outlook rules, as well as the filing and formats will help to make the task efficient so that it will be accomplished successfully.
Document retention policies and procedures are necessary for real estate brokerage management. Streamlining the capture of documents with MS Outlook rules, as well as the filing and formats will help to make the task efficient so that it will be accomplished successfully.
HUD Recommended Questions for a Home Inspector
You might want to provide your buyer clients with this list of inspector questions from HUD. However, it might be wise to provide one more question that could be a big one to miss. "Do you have Errors & Omissions Insurance?". Granted, it could turn some inspectors off, but if you put it at the end of the list, at least they'll think your buyer is just careful.
You might want to provide your buyer clients with this list of inspector questions from HUD. However, it might be wise to provide one more question that could be a big one to miss. "Do you have Errors & Omissions Insurance?". Granted, it could turn some inspectors off, but if you put it at the end of the list, at least they'll think your buyer is just careful.
Document Your Discussions with Cell Phone to Email
There's a free service out there that will allow you to send yourself or your assistant an email by dictating it into your cell phone. Cell phone to email can cut liability issues in your transactions by documenting remote decisions and discussions with this service.
There's a free service out there that will allow you to send yourself or your assistant an email by dictating it into your cell phone. Cell phone to email can cut liability issues in your transactions by documenting remote decisions and discussions with this service.
An Online Fax Service to Reduce Risk? - You Bet
Using an online fax service can reduce your liability and aid in the archive task when it comes the the hundreds of emails involved in a real estate transaction. This is primarily due to the ability with most online fax services to receive your faxes in Acrobat .pdf format.
Using an online fax service can reduce your liability and aid in the archive task when it comes the the hundreds of emails involved in a real estate transaction. This is primarily due to the ability with most online fax services to receive your faxes in Acrobat .pdf format.
MS Outlook Email to PDF for Efficient Transaction Email Archives
With email such a huge part of our daily real estate business, email to .pdf file format can help in archiving of real estate transaction emails. Of course, you can always print each email to .pdf when it comes in, but we all get busy and soon you won't know which ones in the email transaction folder have been converted and which haven't. With Acrobat's software, you can convert an entire email folder at once into one sorted document.
With email such a huge part of our daily real estate business, email to .pdf file format can help in archiving of real estate transaction emails. Of course, you can always print each email to .pdf when it comes in, but we all get busy and soon you won't know which ones in the email transaction folder have been converted and which haven't. With Acrobat's software, you can convert an entire email folder at once into one sorted document.