Part 1: Principal Broker Supervisory Duties and Best Practices (2 hours)
|
|
- Leo Blankenship
- 7 years ago
- Views:
Transcription
1 State of Vermont Office of the Secretary of State [phone] James C. Condos, Secretary of State [fax] Brian H. Leven, Deputy Secretary Office of Professional Regulation National Life Bldg., North FL2 Christopher D. Winters, Director Montpelier, VT Renewal Cycle - Mandatory Course Outline Title: Broker and Associate Duties, Responsibilities, and Best Practices Part 1: Principal Broker Supervisory Duties and Best Practices (2 hours) I. The duty to define parties, roles and expectations within the firm consistent with VREC rules A. Principal broker as supervisor of the brokerage firm B. Broker in charge as supervisor of an office of the brokerage firm C. Non-managing brokers D. Salespersons E. Personal assistants serving agents F. Unlicensed office staff G. Team leaders and other designations to be recognized by the brokerage firm H. Establishing independent contractor status under federal Internal Revenue Code 1. Requirements 2. Consequences I. Establishing relationship with employees J. Expectations and/or requirements for becoming members of trade associations and/or MLS K. Policies and procedures relating to dissociation with the brokerage firm L. Ensure continuing agent compliance with requirements to maintain licensure 1. Monitor minimum required education and renewals 2. Notice of delinquency in state income tax, unemployment tax or child support 3. Notice of ANY professional disciplinary procedure or criminal conviction 4. Change of name, address, phone number, address 5. Requirement to conspicuously display license M. Establish requirements and expectations regarding agent training and continuing education 1. Establish method to monitor agent training, education, and practice achievements a. Ensure minimum education requirements are met b. Ensure study and experience match responsibilities delegated 2. Define goals which exceed minimal requirements of applicable rules and standards a. Special orientations for new agents; in house or outsource b. Non-credit in house and other training opportunities
2 N. Establish general and special supervision requirements 1. Office assignment as controlling supervisory chain 2. Practice and/or education standards to handle specific client matters 3. When special supervision will be required 4. Expectations regarding covering agents for illness, vacations etc. O. Policies and notices regarding non-discrimination; required notices and disclosures P. Safe and healthy work environment; safety precautions for agents (sexual harassment) Q. Policy and procedures for licensee selling/purchasing on own account; required disclosures R. Define other circumstances deemed to constitute conflicts requiring notice or action S. Define and monitor requirements of the firm relating to errors and omissions coverage T. Define instances where supervisory review, preapproval and/or advice are required 1. Provide streamlined system and available supervisor or resource person 2. Provide avenue of appeal to supervisor or principal broker 3. Ensure consistent application of supervisory review II. The duty to establish terms and conditions of compensation consistent with VREC rules and the law A. Compensation for licensed agents of the brokerage firm 1. During association with (or employment by) the firm 2. After termination of association with (or employment by) the firm 3. Clear statement of when and how compensation may be delayed or denied a. Failure to comply with office policy or procedure b. Required escrows or delays pending dispute resolution B. Policy for compensation of other brokerage firms participating in the transaction 1. Compensating cooperating (agent) firms 2. Compensating brokerage firms representing the opposite party in the transaction 3. Establishing policy and procedures for compliance with VREC disclosure rules C. Policy for compensating other brokerage firms NOT participating in the transaction 1. Accepting referrals from other brokerage firms a. Best practices for keeping all agreements in writing b. Tax implications, W9 and reporting requirements 2. Avoid promoting the unauthorized practice of real estate brokerage in this state D. Policies relating to receiving referrals from other brokerage firms E. Policies to ensure compliance with applicable federal laws relating to compensation F. Policies to ensure general compliance with rules regarding compensation, commissions, transaction and other fees III. The duty to establish, implement and disclose firm policy regarding practices and conflicts A. Determine who may be clients of the brokerage firm 1. Mixed agency (both buyers and sellers in the market) 2. Single agency (only buyers or only sellers in the market) 3. Blanket cooperation through an MLS Page 2 of 7
3 4. Separate cooperation with independent firms OR non-mls listings B. Determine whether the brokerage firm will allow limited agency when legally permitted 1. Distinguish regular conflicts under Rule 4.4 and special conflicts under Rule 4.5(f) 2. If yes, then provide clear guidance to agents for implementation and compliance C. Establish specific provisions for avoiding dual agency practices D. Establish specific provisions for avoiding conflicts of interest 1. Use of examples in old Appendix B to the 1995 rules 2. Address both relationships and continuing duty of confidentiality E. Establish procedures to ensure policies are reflected in service agreements as required IV. The duty to maintain proper trust accounts and to handle money and property held for others A. Establish a firm pooled trust account for the handling of funds held for others B. Establish individual trust accounts when and as required by law C. Ensure compliance with disclosure, retention, recordkeeping, and accounting requirements D. Provide necessary funds to ensure others are not charged for business expense items E. Establish procedures to comply with commingling rules 1. Deposit of funds in a timely manner 2. No withdrawal of funds unless transaction closes, is terminated, or all parties agree in writing F. Ensure compliance with rules relating to disputes and augmented deposits G. Maintain adequate controls for managing and safeguarding accounts and funds 1. Address who may sign, issue, receive, and/or deposit checks or other funds 2. Establish a cash management system H. Keep VREC informed of banks being used for trust deposits V. The duty to establish and monitor adequate record keeping policies in accordance with VREC rules A. Maintaining all records as defined by rule for a period of 7 years 1. Include offers and electronic records such as s a. Discuss ways of memorializing direction given through methods such as texting 2. Assume holding period begins on date a file is closed or in instances where a conflict arises, from the date a conflict is settled 3. Make available for inspection as requested 4. Consider items not required by rule such as sales meeting attendance B. Maintain policies and procedures for taking files from the registered offices C. Establish policies and procedures for digital record keeping (if used) D. Ensure compliance with privacy laws and laws relating to destruction of records E. Maintain policies and procedures for dealing with disasters (flood, fire, etc) F. Ensure that each file contains proper mandatory and/or required disclosures Page 3 of 7
4 VI. The duty to ensure compliance with advertising and solicitation laws and rules A. Understand current definition of advertising under VREC rules B. Understand current requirements for advertising under VREC rules C. Establish and maintain controls for agent compliance with basic laws and rules 1. Preapproval of business cards, stationery, electronic templates for /texts 2. Establish clear policy mandating use of the firm s name in all advertising 3. Require use of preapproved signs and riders only for on-site signs 4. Establish clear policy and expectations regarding self promotion and marketing a. Personal and commercial websites b. Use of social media c. Team or group advertising d. Use of logos, models, catch-lines, personal or favorite quotes 5. Ensure compliance with discrimination laws; use required logo 6. Establish rules for placement and distribution of advertisements; include disclaimers 7. Obtaining client consent 8. Establish rules for open houses; ensure compliance with disclosure and sign rules D. Make clear policies to ensure compliance with DO-NOT-CALL and CAN SPAM laws VII. The duty to ensure that required contracts and forms used by the firm comply with VREC rules A. Provide mandatory consumer disclosure forms which comply with VREC rules 1. Provide agents with standard language regarding NO CONFIDENTIALITY a. To be used in websites and social media b. To be used in s and other correspondence before delivery of form 2. Establish clear procedure for delivery of, signing and filing the forms a. Note the rule does NOT require the consumer to sign b. Follow procedure in rule when consumer declines to sign form B. Provide service agreement forms which comply with the rules and reflect the firm s policies 1. Include addenda where necessary to comply with VREC rules 2. Require fill in blanks and check boxes to be completely addressed 3. Establish policies regarding required signatories and representative parties 4. Ensure that listing parties are matched against public data such as grand list 5. Train agents to review and highlight the main terms and conditions of the agreement 6. Establish policies regarding extensions and renewals a. Update data and variable terms as of the date of extension or renewal b. Consider extension at the time client enters into P&S agreement c. Dealing with expired agreements where parties are under contract to close 7. Make a firm policy that brokerage services are NOT to be provided BEFORE there is a signed service agreement 8. Limitations of services should be specified; duties may not be limited Page 4 of 7
5 C. Use fill in the blank sales agreements approved either by a trade association or attorney 1. Establish clear policy geared toward avoiding the practice of law a. Legal questions should be referred to counsel for the party b. Use preapproved forms for addenda or consult attorney c. Avoid paragraph by paragraph explanation of contract provisions d. Highlight the disclaimer/warning regarding obtaining legal advice 2. Establish procedures which require file records for all versions of an offer/contract 3. Establish clear policies and procedures for prompt handling of offers and acceptances 4. Establish policy for handling non-cash or cash equivalent deposits D. Establish policies and procedures for the use of term sheets and/or letters of intent E. Ensure that signatories are given copies of an agreement at the time of signing F. Ensure that amendments, additions, and deletions are dated and initialed VIII. The duty to ensure proper disclosures as required by VREC rules A. Advertising 1. Name of the firm 2. Name of listing agency and agent 3. Personal interest in transaction and license status B. Closing statement showing disposition of deposit C. Compensation of other firms D. Conflicts provisions E. Limited agency disclosures F. Limitations on ability to convey fee simple G. Limitations on Service H. Mandatory consumer disclosure, agency disclosure I. Material facts concerning property J. Material facts concerning party opposite, other matters K. Offers L. Representation of both sellers and buyers in the market M. Trust account location, name IX. The duty to assure compliance with applicable laws and rules relating to practice of the profession A. Federal and state discrimination laws 1. Emphasis on additional Vermont protected categories 2. More restrictive provisions in Vermont which differ from federal law 3. Create a disclosure policy to supplement required federal poster B. RESPA anti-kickback and unearned fee provisions; affiliated business agreements C. Federal and state anti-trust provisions D. State sign laws (on-premise signs); interpretations by Travel Information Council E. Residential landlord and tenant law; marketing restrictions; timing; notice F. Federal and state lead disclosure laws; pre-contract requirements; closing requirements G. Smoke & CO detector Requirements H. Lead Paint and Renovation Rules and EMP requirements for rental property owners Page 5 of 7
6 Part 2: VREC Initiatives and Resources (10 minutes) I. Overview of the disciplinary process A. Dual filing on disciplinary matters - both respondent and their broker II. The establishment of inspectors to educate and assist firms in complying with the rules. III. Updating rules to provide clarifications and adjustments to practice rules (in process). IV. Plan to create new educational requirement for first year salespersons. V. OPR Resources A. Real Estate Commission Website at B. On-line Calendar, Agendas, Minutes, Newsletters C. On-line Rules, Vermont Statutes, and Important Forms D. On-line Conduct Decisions E. Reminder that registering and attending a meeting gets licensee credit Part 3: Discussion of Supervisory Issues and Examples of Best Practices (1 hour, 50 minutes) This section of the course is intended to allow course providers some flexibility in addressing and emphasizing common areas of concern in firm supervision and/or agent duties and responsibilities. Some sample topics are listed below but are not intended to be exclusive. This section could also be used to expand on topics mentioned in Part 1. This section should be as INTERACTIVE as possible, using hypothetical situations, case studies, review of actual disciplinary decisions of the VREC, and any other learning tools which might assist licensees in understanding the issues and helping to resolve them consistently with our rules of practice. SAMPLE TOPICS 1. Case law makes it clear that real estate agents are marketing agents, not inspectors or structural engineers. Discuss or give examples of agent practices which might serve to undermine this principle and mislead the consumer into expecting this type of expertise from the agent. 2. If an agent wishes to show a prospective purchaser property which is for-sale-by owner, how should this be handled under our rules of practice? What are the options? 3. What is the role of a listing agent with respect to general inspection reports, or reports on specific items such as mold or radon? 4. What issues confront a listing agent whose client has suggested a willingness to provide seller financing? Address this for one to four unit residential AND also for commercial? 5. Are firms allowed to accept an agreement signed by parties before a dispute arises for purposes of complying with the written authority requirement of Rule 4.7(d)? Page 6 of 7
7 6. What is the best practice for consumer warnings on s and other introductory correspondence between agents and customers/prospects? 7. What exactly are the limits of service to a customer? 8. What are the elements of an ideal orientation for a new sales agent? 9. Give specific examples of how professional conduct rules may be implicated when an agent actively uses social media for a mixture of personal and business purposes? 10. How should a firm reconcile a new agent s need and desire to make money with the obligation to avoid delegating or having the agent take on tasks which the agent is not qualified by education or experience to handle? 11. How should a buyer broker handle a client who specifically requests assistance in locating an area predominately inhabited by people of a particular national origin? 12. How should a real estate agent handle a closing attorney s demand for a check for the deposit at least three days BEFORE closing to ensure collected funds needed for a closing date wire? 13. Could a principal broker choose to handle a multiple buyer conflict by obtaining informed consent of both buyers to continued representation with reduction in services similar to a limited agency? 14. Would a firm s service agreement be affected if the listing salesperson fails to renew his/her license in a timely manner at any point during the term of the agreement? Does your response change if there was an outstanding purchase and sales agreement at the time the agent s license expired? Does your response change if it was the principal broker who failed to renew, not a salesperson? Page 7 of 7
ADMINISTRATIVE RULES OF THE VERMONT REAL ESTATE COMMISSION
Part 1 General Information 1.1 The Commission's Purpose. ADMINISTRATIVE RULES OF THE VERMONT REAL ESTATE COMMISSION The Vermont Real Estate Commission ( Commission ) is responsible for enforcing Vermont's
More informationCore B: Legal Issues in Real Estate Today Sample Exam
2200 E. Devon Ave., Suite 246, Des Plaines IL. 60018 www.surewininc.com 888-844-7515 x xxx Core B: Legal Issues in Real Estate Today Sample Exam T F 1. Misleading ads are acceptable to get consumers to
More informationModel Brokerage Policies and Procedures
Model Brokerage Policies and s January 2015 Copyright 2013-2015 by Texas Association of REALTORS All rights reserved. Printed in the United States of America. No part of this book may be reproduced in
More informationDivision of Real Estate: Broker Management CE Course Curriculum
Division of Real Estate: Broker Management CE Course Curriculum 12 Credit Hour Broker Management Continuing Education Course Curriculum Course Goal : To provide attendees with the skills and methods to
More informationBroker Compliance Evaluation. Manual
Broker Compliance Evaluation Manual August 2010 Broker Compliance Evaluation Manual This Broker Compliance Evaluation Manual was prepared primarily to assist the real estate broker conducting residential
More informationKREC s NEWSLETTER: INDEX. Compiled from a review of KREC newsletters from 2002 to present;
KREC s NEWSLETTER: KENTUCKY REAL ESTATE NEWS INDEX Compiled from a review of KREC newsletters from 2002 to present; Addresses some of the frequently-asked questions received by the KREC Legal Department;
More informationINDEPENDENT CONTRACTOR AGREEMENT (Between Broker and Licensee)
INDEPENDENT CONTRACTOR AGREEMENT (Between Broker and Licensee) This Independent Contractor Agreement ( Agreement ), is made between Realtyka LLC ( Broker ), operating under the assumed name Real and (
More informationROGER K. SHERRILL, R.E. TUTOR, ALL TRUE NEVADA LAW
ROGER K. SHERRILL, R.E. TUTOR, ALL TRUE NEVADA LAW The Division CANNOT step in and take control of a broker s trust account without a court order. They must pursue an injunction by court action. Salespersons
More informationGeneral Exam Content Outline for Salespersons Effective April 1, 2014
General Exam Content Outline for Salespersons Effective April 1, 2014 The general portion of the real estate exam is made up of eighty (80) scored items, which are distributed as noted in the following
More information20 CSR 2250-8.010 Place of Business...3. 20 CSR 2250-8.020 Broker Supervision and Improper Use of License and Office...3
Rules of Department of Insurance, Financial Institutions and Professional Registration Division 2250 Missouri Real Estate Commission Chapter 8 Business Conduct and Practice Title Page 20 CSR 2250-8.010
More informationTEXAS ASSOCIATION OF REALTORS INDEPENDENT CONTRACTOR AGREEMENT FOR SALES ASSOCIATE. Robyn Jones Homes, LLC
1 TEXAS ASSOCIATION OF REALTORS INDEPENDENT CONTRACTOR AGREEMENT FOR SALES ASSOCIATE USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORS IS NOT AUTHORIZED Texas Association
More informationReal Estate Brokerage Laws and Customs: Vermont
View the online version at http://us.practicallaw.com/8-574-8565 Real Estate Brokerage Laws and Customs: Vermont R. PRESCOTT JAUNICH AND KANE H. SMART, DOWNS RACHLIN MARTIN PLLC, WITH PRACTICAL LAW REAL
More informationNORTHERN GREAT LAKES REALTORS MULTIPLE LISTING SERVICE LLC BUY AND SELL AGREEMENT Page 1 of 5
Page 1 of 5 Selling Office: Selling REALTOR : Selling REALTOR s Email: Selling REALTOR s Phone: Listing Office: Listing REALTOR : Listing REALTOR s Email: Listing REALTOR S Phone: Date:, 20 at AM PM 1.
More informationGREC OFFICE PRACTICES AND TRUST ACCOUNT REVIEW
GREC OFFICE PRACTICES AND TRUST ACCOUNT REVIEW The Georgia Real Estate Commission ( GREC ) Office Practices and Trust Account Review packages mailed to randomly selected firms by the GREC contain the questionnaire
More informationFlorida Moves, Inc. Real Estate Referrals
Florida Moves, Inc. Real Estate Referrals Florida Moves is a referral program for individuals holding a salesperson or broker s license who, because of other commitments or interests, choose not to be
More informationQUESTIONS AND ANSWERS REGARDING DISCLOSURE OF AGENCY
QUESTIONS AND ANSWERS REGARDING DISCLOSURE OF AGENCY AND INTERMEDIARY PRACTICE The following questions and answers have been developed to assist licensees in complying with the disclosure of agency and
More informationREAL ESTATE AGENCY DIVISION 25 PROPERTY MANAGEMENT
REAL ESTATE AGENCY DIVISION 25 PROPERTY MANAGEMENT 863-025-0005 Application and Purpose (1) OAR 863-025-0010 to 863-025-0080 apply to the activities of a real estate property manager in the management
More informationAPPLICATION FOR REAL ESTATE SERVICES PROFESSIONAL LIABILITY INSURANCE
APPLICATION FOR REAL ESTATE SERVICES PROFESSIONAL LIABILITY INSURANCE This is an Application for a claims made and reported policy. Please read the entire Application carefully before signing. Whenever
More informationAdministrative Rules for Social Workers Windows Draft for Public Review and Comments September 21, 2015. Table of Contents
Administrative Rules for Social Workers Windows Draft for Public Review and Comments September 21, 2015 Page 1 Table of Contents Part 1 General Information 1.1 Administrative Rules 1.2 General Definitions
More informationAREC. Property Management Self-Evaluation. Guide. Arkansas Real Estate Commission
AREC Arkansas Real Estate Commission Property Management Self-Evaluation Guide December 2014 Property Management Self-Evaluation Guide Property Management activities include the leasing, managing, marketing
More informationSupervising Broker Best Practices. A Broker s Guide to Creating a Policy and Procedure Manual
Supervising Broker Best Practices A Broker s Guide to Creating a Policy and Procedure Manual September 2012 i PREFACE This guide and information has been prepared by real estate regulators to assist a
More information(1) Purpose and Scope. This rule sets forth department policy as. to certain matters generally affecting public adjusters and public
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Florida Administrative Code 69B-220.051 Conduct of Public Adjusters. (1) Purpose and Scope. This rule sets forth department policy as to certain matters
More informationAREC. Regulation Sections 8 & 10. Quick Reference Guide. Arkansas Real Estate Commission
AREC Arkansas Real Estate Commission Regulation Sections 8 & 10 Quick Reference Guide Revised January 2015 INTRODUCTION This is a Quick-Reference Guide to Sections 8 and 10 of the Arkansas Real Estate
More informationSUBCHAPTER 11. VIATICAL SETTLEMENTS REGULATION
TITLE 365. CHAPTER 25. LICENSURE OF AGENTS, BAIL BONDSMEN, COMPANIES, PREPAID FUNERAL BENEFITS, AND VIATICAL SETTLEMENTS PROVIDERS AND BROKERS SUBCHAPTER 11. VIATICAL SETTLEMENTS REGULATION 365:25-11-1.
More informationBoard Regulation CE Topics List (Effective November 1, 2014 October 31, 2015)
Board Regulation CE Topics List (Effective November 1, 2014 October 31, 2015) All Real Estate Licensees, including property managers, are required to complete 12 hours of continuing education every year
More informationIowa Association of REALTORS. Member. Professional Conduct Manual
Iowa Association of REALTORS Member Professional Conduct Manual Prepared and Edited By Paul McLaughlin, JD And Ray Osthus, CRS, GRI Copyright MCMXCIX Forward This manual has been prepared as a guide to
More informationRevised and Instituted June 15, 2016 STATEMENT OF GOALS
Morris Williams Realty Including Morris Williams Corporation, Morris Williams Realty, Inc., Morris Williams Real Estate, Inc. and fictitious business names Morris Williams Realty and Morris Williams Real
More informationDivision of Real Estate. Real Estate Frequently Asked Questions INTRODUCTION
Division of Real Estate Real Estate Frequently Asked Questions INTRODUCTION The following sets forth common questions and answers involving the practice of real estate in Illinois. References to the Act
More informationTexas Real Estate Commission Chapter 535, GENERAL PROVISIONS Rules Adopted at the November 15, 2010 Commission Meeting
Subchapter B. General Provisions Relating to the Requirements of Licensure 535.2, 535.3, new 535.4, 535.5, 535.16, 535.17, 535.20 The Texas Real Estate Commission (TREC) adopts amendments to 535.2, regarding
More informationWHAT WE HEARD Feedback from the Public Consultation on the legislation that regulates The Real Estate Industry in Newfoundland and Labrador
Government of Newfoundland and Labrador Service NL WHAT WE HEARD Feedback from the Public Consultation on the legislation that regulates The Real Estate Industry in Newfoundland and Labrador Background
More informationKREC HOTLINE FAQs ADVERTISING REQUIREMENTS
KREC HOTLINE FAQs ADVERTISING REQUIREMENTS 1. Must licensees include their mailing addresses and phone numbers in their print advertisements for listed properties? ANSWERS: No. Print advertisements for
More informationCalifornia Real Estate Practice
California Real Estate Practice Chapter 1: Real Estate Agency Relationships Agency and Agency Law Agency Relationships Agent s Duties to the Principal Agent s Duties to Third Parties Other Legal Effects
More informationEnrolled Copy S.B. 120
Enrolled Copy S.B. 120 1 REGULATION OF REVERSE MORTGAGES 2 2015 GENERAL SESSION 3 STATE OF UTAH 4 Chief Sponsor: Wayne A. Harper 5 House Sponsor: Ken Ivory 6 7 LONG TITLE 8 General Description: 9 This
More informationPolicies & Procedures Manual
Policies & Procedures Manual Table of Contents Page Section 1. About the Company... 3 Section 2. Policy Manual... 3 Section 3. Independent Contractor Relationship... 4 Section 4. General Office Procedures...
More informationNEW YORK CITY TAXI AND LIMOUSINE COMMISSION. Notice of Public Hearing and Opportunity to Comment on Proposed Rules
NEW YORK CITY TAXI AND LIMOUSINE COMMISSION Notice of Public Hearing and Opportunity to Comment on Proposed Rules Notice is hereby given in accordance with section 1043 of the Charter of the City of New
More informationRULES AND REGULATIONS MULTIPLE LISTING SERVICE SAN FRANCISCO ASSOCIATION OF REALTORS (As Amended May 19 th, 2015)
RULES AND REGULATIONS MULTIPLE LISTING SERVICE SAN FRANCISCO ASSOCIATION OF REALTORS (As Amended May 19 th, 2015) TABLE OF CONTENTS 1. AUTHORITY....1 2. PURPOSE....1 3. MULTIPLE LISTING SERVICE COMMITTEE....1
More informationFlorida Administrative Code
Florida Administrative Code Rule 69B-220.051 Conduct of Public Adjusters. (1) Purpose and Scope. This rule sets forth department policy as to certain matters generally affecting public adjusters. Procedures
More informationADVERTISING CHECKLIST for REAL ESTATE BROKERS and BRANCH OFFICE MANAGERS and REAL ESTATE AGENTS
ADVERTISING CHECKLIST for REAL ESTATE BROKERS and BRANCH OFFICE MANAGERS and REAL ESTATE AGENTS I. OVERVIEW Effective December 1, 2001, a regulation was adopted by the Maryland Real Estate Commission which
More informationLICENSE LAW AND COMMISSION RULES PRACTICE EXAM
LICENSE LAW AND COMMISSION RULES PRACTICE EXAM Copyright 2004 1. Which of the following do NOT require a real estate license? A. Auctioning of Real Property B. A firm selling its own property through the
More informationWB-36 BUYER AGENCY/TENANT REPRESENTATION AGREEMENT. 1 BROKER THE SOLE AUTHORITY TO ACT FOR BUYER AS A BUYER S AGENT: Buyer (see lines 158-159) gives
Approved by the Wisconsin Department of Regulation and Licensing Page 1 of 5 1-1-08 (Optional Use Date) 7-1-08 (Mandatory Use Date) WB-36 BUYER AGENCY/TENANT REPRESENTATION AGREEMENT 1 BROKER THE SOLE
More informationT RUST ACCOUNT I NTERPLEADER P ROCEDURES AND PUBLISHED BY THE OKLAHOMA REAL ESTATE COMMISSION
T RUST ACCOUNT AND I NTERPLEADER P ROCEDURES PUBLISHED BY THE OKLAHOMA REAL ESTATE COMMISSION Trust Account and Interpleader Procedures Revised July, 2005 PUBLISHED BY THE OKLAHOMA REAL ESTATE COMMISSION
More information1. TYPE OF PROPERTY: Residential (improved and unimproved) Commercial (improved and unimproved) Other (a) General Location: (b) Other:
EXCLUSIVE BUYER AGENCY AGREEMENT [Consult "Guidelines" (Form 201G) for guidance in completing this form] This EXCLUSIVE BUYER AGENCY AGREEMENT ("Agreement") is entered into (Date), between as Buyer(s)
More informationRULES OF THE TENNESSEE REAL ESTATE COMMISSION CHAPTER 1260-02 RULES OF CONDUCT TABLE OF CONTENTS
RULES OF THE TENNESSEE REAL ESTATE COMMISSION CHAPTER 1260-02 RULES OF CONDUCT TABLE OF CONTENTS 1260-02-.01 Supervision of Affiliate Brokers 1260-02-.22 Repealed 1260-02-.02 Termination of Affiliation
More informationHOUSTON LAWYER REFERRAL SERVICE, INC. RULES OF MEMBERSHIP
HOUSTON LAWYER REFERRAL SERVICE, INC. RULES OF MEMBERSHIP The Houston Lawyer Referral Service, Inc. (HLRS) is a non-profit corporation sponsored by the Houston Bar Association, Houston Young Lawyers Association,
More information254 CMR: BOARD OF REGISTRATION OF REAL ESTATE BROKERS AND SALESMEN 254 CMR 3.00: PROFESSIONAL STANDARDS OF PRACTICE. Section
254 CMR 3.00: PROFESSIONAL STANDARDS OF PRACTICE Section 3.00: Professional Standards of Practice 3.00: Professional Standards of Practice Violation of any of the provisions of 254 CMR 3.00 may result
More informationLegal Aspects of Real Estate Course Syllabus
Legal Aspects of Real Estate Course Syllabus Chapter 1: An Introduction to Law and the Legal System The Role of Law The Roots of U.S. Law Criminal and Civil Law Sources of Law Constitutions Legislatures:
More informationDivision of Professional Regulation. Real Estate Frequently Asked Questions INTRODUCTION
Division of Professional Regulation Real Estate Frequently Asked Questions INTRODUCTION The following sets forth common questions and answers involving the practice of real estate in Illinois. References
More informationNew RESPA Rule FAQs. (New items are in bold)
New RESPA Rule FAQs (New items are in bold) The following FAQs were revised to provide further clarification: GFE General, #33 GFE Important dates, #5 GFE - Block 1, #7 and #8 Sections 4 and 5 Right to
More informationProperty Managers Professional Package Product
COMMITTED TO A MAKING DIFFERENCE Property Managers Professional Package Product PROPERTY MANAGERS PROFESSIONAL PACKAGE PRODUCT APPLICATION All questions must be answered and application must be signed
More informationTravelers 1 st Choice REAL ESTATE SERVICES PROFESSIONAL LIABILITY COVERAGE APPLICATION
Travelers 1 st Choice REAL ESTATE SERVICES PROFESSIONAL LIABILITY COVERAGE APPLICATION Travelers Casualty and Surety Company of America Hartford, Connecticut IMPORTANT NOTE: This is an application for
More informationAITKIN COUNTY GUIDELINES AND PROCEDURES FOR MINNESOTA GOVERNMENT DATA PRACTICES ACT. Aitkin County
AITKIN COUNTY GUIDELINES AND PROCEDURES FOR MINNESOTA GOVERNMENT DATA PRACTICES ACT Aitkin County Adopted by the Aitkin County Board of Commissioners July 28, 2015 To the extent that the Minnesota Government
More informationMANAGING CLIENT TRUST ACCOUNTS RULES, REGULATIONS, AND TIPS
MANAGING CLIENT TRUST ACCOUNTS RULES, REGULATIONS, AND TIPS This booklet has been prepared by the Vermont Professional Responsibility Program as a guide for both new and experienced lawyers who have questions
More informationListing Agreement Commercial Authority to Offer for Lease
Listing Agreement Commercial Authority to Offer for Lease DISCLAIMER: Forms are created with a view to identify and satisfy general needs. The pre-set portion of any Form is complex and can be difficult
More informationFORMS CHANGES COMING SOON
FORMS CHANGES COMING SOON Susan L. Dioury, JD Senior Vice President, Risk Management Legal Counsel sdioury@mnrealtor.com These changes will be released on August 1, 2016. The Minnesota REALTORS Forms Committee
More informationMental Health Resources, Inc. Mental Health Resources, Inc. Corporate Compliance Plan Corporate Compliance Plan
Mental Health Resources, Inc. Mental Health Resources, Inc. Corporate Compliance Plan Corporate Compliance Plan Adopted: January 2, 2007 Revised by Board of Directors on September 4, 2007 Revised and Amended
More informationChapter 5. Opening and Closing a Real Estate Brokerage Firm A. OPENING A REAL ESTATE BROKERAGE FIRM POINTS TO CONSIDER WHEN STARTING A BROKERAGE FIRM
Chapter 5 Opening and Closing a Real Estate Brokerage Firm A. OPENING A REAL ESTATE BROKERAGE FIRM POINTS TO CONSIDER WHEN STARTING A BROKERAGE FIRM Once an individual has met the qualifications for a
More informationHow To Serve A Mortgage In The United States
Break Out Session: Mortgage Loan Servicing and Administration 2 Agenda Mortgage Servicing Rules (Real Estate Settlement Procedures Act [RESPA] and Truth in Lending Act [TILA]) Effective Date: Applications
More informationGROUP HEALTH INCORPORATED SELLING AGENT AGREEMENT
GROUP HEALTH INCORPORATED SELLING AGENT AGREEMENT This Agreement, made between Group Health Inc., having its principal office at 441 Ninth Avenue, New York, NY 10001 ("GHI"), and, having its principal
More informationCOMMUNITY ASSOCIATIONS INSTITUTE PROFESSIONAL MANAGER CODE OF ETHICS
The Manager Shall: COMMUNITY ASSOCIATIONS INSTITUTE PROFESSIONAL MANAGER CODE OF ETHICS 1. Comply with current bylaws, standards and practices as may be established from time to time by CAI subject to
More informationPROPERTY MANAGEMENT AGREEMENT
PROPERTY MANAGEMENT AGREEMENT OWNER: AGENT: PROPERTY: APN: Owner and Property Manager, as hereinafter identified, agree as follows: 1. APPOINTMENT OF AGENT: Owner hereby appoints and grants Property Manager
More informationTen Most Common Violations Found in DRE Audits
Ten Most Common Violations Found in DRE Audits The real estate industry has moved into a new millennium. New things pop up every day changing the way we do business. Yet, certain things have not changed
More informationCOMMERCIAL PROPERTY MANAGEMENT AGREEMENT
WPM Properties Inc., Telephone: 510.832.1700 Facsimile: 510.832.1950 Email: wpmproperties@att.net COMMERCIAL PROPERTY MANAGEMENT AGREEMENT Commercial Property Management is an agreement between an owner
More informationRegistration and Regulation of Investment Advisers. Presented by Chris Salter
Registration and Regulation of Investment Advisers Presented by Chris Salter Investment Adviser Registration 2 Overview Registering with the SEC will have a significant impact on the business and operations
More informationNATIONAL BOARD FOR CERTIFIED COUNSELORS (NBCC) CODE OF ETHICS
PREAMBLE NATIONAL BOARD FOR CERTIFIED COUNSELORS (NBCC) CODE OF ETHICS The National Board for Certified Counselors (NBCC) provides national certifications that recognize individuals who have voluntarily
More informationCode of Ethics. I. Definitions
Code of Ethics Old North State Trust, LLC (the Company ) has adopted this Code of Ethics in recognition of the principle that all Supervised Persons (as defined below) of the Company have a fiduciary duty
More informationBEXIL AMERICAN MORTGAGE INC./AMERICAN MORTGAGE NETWORK BROKER GUIDE
BEXIL AMERICAN MORTGAGE INC./AMERICAN MORTGAGE NETWORK BROKER GUIDE This Broker Guide ( Guide ), as supplemented and amended from time to time by Bexil American Mortgage Inc./American Mortgage Network
More informationThe Georgia Brokerage Relationships in Real Estate Transactions Act
Chapter 9 The Georgia Brokerage Relationships in Real Estate Transactions Act A. OVERVIEW PURPOSE OF THE ACT The Brokerage Relationships in Real Estate Transactions Act (BRRETA) http://www.crowngeorgia.com/brreta.htm
More informationProcedure 1B.1.1 Report/Complaint of Discrimination/Harassment Investigation and Resolution
Minnesota State Colleges and Universities System Procedures Chapter 1B System Organization and Administration / Equal Education and Employment Opportunity Report/Complaint of Discrimination/Harassment
More informationCorporate Policy. Data Protection for Data of Customers & Partners.
Corporate Policy. Data Protection for Data of Customers & Partners. 02 Preamble Ladies and gentlemen, Dear employees, The electronic processing of virtually all sales procedures, globalization and growing
More informationPROPERTY MANAGER SUPPLEMENTAL APPLICATION
Name of Insurance Company to which Application is made PROPERTY MANAGER SUPPLEMENTAL APPLICATION This is a supplement to an application for a CLAIMS-MADE and Reported Policy. It is to be used solely in
More informationRULES AND REGULATIONS
RULES AND REGULATIONS 660 American Avenue, Suite 203 King of Prussia, PA 19406 Phone: (610) 783-4650 FAX: (610) 783-4699 www.trendmls.com Approved by the TREND Board of Directors, 7/2015 2 Approved by
More information2015 OPTIONAL ENDORSEMENT OVERVIEW APPRAISAL ENDORSEMENT
RISC Rice Insurance Services Company, LLC We put the Experience and Options in E&O programs 4211 Norbourne Blvd., Louisville, KY 40207 Phone: (502) 897-1876/Toll-free: (800) 637-7319 Fax: (502) 897-7174
More informationREAL ESTATE PROFESSIONALS ERRORS AND OMISSIONS INSURANCE APPLICATION
REAL ESTATE PROFESSIONALS ERRORS AND OMISSIONS INSURANCE APPLICATION Notice This is an application for a policy that contains "Claims-made" liability protection. Coverage for prior acts and claims made
More informationInsurance Producer Agreement
Insurance Producer Agreement THIS AGREEMENT ( Agreement ) is made and entered into on this day of. (the Effective Date ), by and between KPS Health Plans (hereinafter referred to as KPS ), a duly licensed
More informationArizona Rentals & Concierge Services, LLC. Property Management Agreement
Arizona Rentals & Concierge Services, LLC ADRE License Number SE515963000 14245 W. Grand Ave. Suite #2 Surprise AZ. 85374 623-209-1656 WWW.arizonarentalservice.com mgt@arizonarentalservice.com Property
More informationProperty Managers Errors & Omissions and Commercial Crime Application
Property Managers Errors & Omissions and Commercial Crime Application Brought to you by Aon NOTICE WITH RESPECT TO ALL COVERAGE PARTS, THE POLICY YOU ARE APPLYING FOR IS A CLAIMS-MADE POLICY, AND SUBJECT
More informationRESIDENTIAL REAL ESTATE LISTING AGREEMENT EXCLUSIVE RIGHT TO SELL
RESIDENTIAL REAL ESTATE LISTING AGREEMENT EXCLUSIVE RIGHT TO SELL USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORS IS NOT AUTHORIZED. Texas Association of REALTORS,
More informationprobation; plus 9 hours additional continuing checking account all money received by a Broker acting in such 96-046, 97-010 - Commission vs.
Section 81-885.21(1), 81-885.24(5) and Ch. 3-007 by failing 92-048 - Commission vs. Patrick November 12, 1992 Stipulation and Consent Order. 6 months to maintain and deposit in a separate non-interest-bearing
More informationREAL ESTATE PROFESSIONALS ERRORS AND OMISSIONS INSURANCE APPLICATION
Exclusively Administered by: Pearl Insurance 1200 East Glen Avenue Peoria Heights, IL 61616-5348 1.800.289.8170 www.pearlinsurance.com REAL ESTATE PROFESSIONALS ERRORS AND OMISSIONS INSURANCE APPLICATION
More informationAGREEMENT. Solicitor Without Per Diem Compensation
Solicitor Without Per Diem Compensation AGREEMENT Products underwritten by: American General Life Insurance Company Houston, Texas The United States Life Insurance Company in the City of New York New York,
More informationReport on FSCO s Compliance Reviews of Mortgage Brokerages. Financial Services Commission of Ontario Licensing and Market Conduct Division
Report on FSCO s Compliance Reviews of Mortgage Brokerages Financial Services Commission of Ontario Licensing and Market Conduct Division May 2010 TABLE OF CONTENTS EXECUTIVE SUMMARY...3 ABOUT FSCO...4
More informationNEW HAMPSHIRE. Downloaded January 2011 HE P 803.08 NURSING HOME REQUIREMENTS FOR ORGANIZATIONAL CHANGES.
NEW HAMPSHIRE Downloaded January 2011 HE P 803.08 NURSING HOME REQUIREMENTS FOR ORGANIZATIONAL CHANGES. (a) The nursing home shall provide the department with written notice at least 30 days prior to changes
More informationProgram/Project Name: Supplemental Security Income (SSI) Representation Services
Program/Project Name: Supplemental Security Income (SSI) Representation Services 1. TERM This Agreement is effective February 4, 2014 between COUNTY and CONTRACTOR and shall remain in effect until January
More informationSales Associate Course. Brokerage Activities and Procedures
Sales Associate Course Chapter Five Brokerage Activities and Procedures 1 Brokerage Offices All active brokers must maintain an office Requirements Registered with the Department of Business and Professional
More informationNORTH CAROLINA REAL ESTATE COMMISSION P. O. Box 17100 Raleigh, North Carolina 27619-7100 919/875-3700 www.ncrec.gov
APPLICATION FEES: $30 - ORIGINAL APPLICATION $55 - LICENSE REINSTATEMENT If application is to reinstate an expired or revoked firm license, check the box below and provide the old license number. Reinstatement
More informationBUREAU OF INSURANCE VIATICAL SETTLEMENT PROVIDERS CHAPTER 60 OF TITLE 38.2 OF THE CODE OF VIRGINIA VIATICAL SETTLEMENTS ACT
BUREAU OF INSURANCE VIATICAL SETTLEMENT PROVIDERS CHAPTER 60 OF TITLE 38.2 OF THE CODE OF VIRGINIA VIATICAL SETTLEMENTS ACT REQUIREMENTS FOR OPERATING IN VIRGINIA (All citations to the insurance statutes
More informationReal Estate Brokerage Laws and Customs: Massachusetts
View the online version at http://us.practicallaw.com/5-569-6228 Real Estate Brokerage Laws and Customs: Massachusetts CHRISTOPHER J. CURRIER, PARTRIDGE SNOW & HAHN LLP, WITH PRACTICAL LAW REAL ESTATE
More informationSPOTLIGHT ON. Advisors Recordkeeping Obligations
SPOTLIGHT ON Advisors Recordkeeping Obligations The contents of this Spotlight have been prepared for informational purposes only, and should not be construed as legal or compliance advice. Advisors have
More informationGreenwich Insurance Company
REAL ESTATE PROFESSIONAL ERRORS AND OMISSIONS INSURANCE APPLICATION tice: This is an application for a policy that contains Claims-made liability protection. Coverage for prior acts and claims made after
More information12.25.2.2 SCOPE: All escrow companies licensed by the state of New Mexico. [12.25.2.2 NMAC - Rp, 12 NMAC 25.2.2, 7/1/15]
TITLE 12 CHAPTER 25 PART 2 TRADE, COMMERCE AND BANKING ESCROW COMPANIES ESCROW COMPANY ACT 12.25.2.1 ISSUING AGENCY: Financial Institutions Division of the Regulation and Licensing Department, 2550 Cerrillos
More informationQueensland PROPERTY AGENTS AND MOTOR DEALERS ACT 2000
Queensland PROPERTY AGENTS AND MOTOR DEALERS ACT 2000 Act No. 62 of 2000 Queensland PROPERTY AGENTS AND MOTOR DEALERS ACT 2000 TABLE OF PROVISIONS Section Page CHAPTER 1 PRELIMINARY PART 1 INTRODUCTION
More informationRULES OF THE FAIR MORTGAGE LENDING ACT. EFFECTIVE February 9, 2014
Arkansas Securities Department No. 214.00 RULES OF THE FAIR MORTGAGE LENDING ACT EFFECTIVE February 9, 2014 ARKANSAS SECURITIES DEPARTMENT Heritage West Building, Suite 300 201 East Markham Little Rock,
More informationHow To Become A Real Estate Salesperson In New York
New York State DEPARTMENT OF STATE Division of Licensing Services Customer Service: (518) 474-4429 P.O. Box 22001 Fax: (518) 402-4559 Albany, NY 12201-2001 Website: www.dos.state.ny.us Real Estate Salesperson
More informationTHIS IS A LEGALLY BINDING AGREEMENT. IF NOT UNDERSTOOD, SEEK LEGAL ADVICE.
THIS IS A LEGALLY BINDING AGREEMENT. IF NOT UNDERSTOOD, SEEK LEGAL ADVICE. This contract form has been prepared by the Nebraska Real Estate Commission. It is intended to include provisions common to most
More informationHome Inspector License Application
New York State DEPARTMENT OF STATE Division of Licensing Services P.O. Box 22001 Customer Service: (518) 474-4429 Albany, NY 12201-2001 www.dos.ny.gov Home Inspector License Application Read the instructions
More informationRECIPROCAL AGREEMENT BETWEEN THE PENNSYLVANIA REAL ESTATE COMMISSION AND MARYLAND REAL ESTATE COMMISSION
RECIPROCAL AGREEMENT BETWEEN THE PENNSYLVANIA REAL ESTATE COMMISSION AND MARYLAND REAL ESTATE COMMISSION The following reciprocal agreement shall become effective upon the signature and approval of the
More informationArkansas State Board of Public Accountancy
APPENDIX ONE PHYSICAL ADDRESS The principle office and official address of the Board is as follows: Arkansas State Board of Public Accountancy, 101 East Capitol Avenue, Suite 450, Little Rock, AR 72201.
More informationSTEP Code for Will Preparation in England & Wales
STEP Code for Will Preparation in England & Wales Introduction The STEP Code for Will Preparation in England & Wales is a set of ethical principles that operate for the benefit of clients and demonstrate
More informationDelaware s Bank Commissioner Adopts Mortgage Regulations
April 21, 2014 Delaware s Bank Commissioner Adopts Mortgage Regulations By Louis Danastorg Delaware has adopted the amended regulations that had been published in the February 2014 edition of the Delaware
More informationPROPERTY MANAGEMENT AGREEMENT (Long Term)
PROPERTY MANAGEMENT AGREEMENT (Long Term) THIS PROPERTY MANAGEMENT AGREEMENT is entered into by and between Multi-Choice Management, LLC (Florida Corporations Division Document # L09000077634) ( Property
More information