Real Estate Continuing Education Course

Risk Management - 7.5 hours

Limit your liability! Keep the tiger away!

Misrepresentation, Non-disclosure and Unauthorized Practice of Law

• Various theories of liability of real estate brokers.
  • Misrepresentation and non-disclosure.
• Unauthorized practice of law.
  • Legal advice of judgment.

Environmental Problems

• Disclosure of environmental hazards.
  • The real estate agent's role.
  • Major federal environmental legislation.
  • Liability for clean-up.
  • Limiting a landowner's liability.
  • Specific environmental hazards.
• Handing environmental problems.
  • General precautionary measures to avoid liability for environmental problems.
  • Avoid advising parties on environmental issues.
  • Listing agreement/engagement letters.
  • Environmental questionnaires.
  • Buy and sell agreements.
  • Vacant land.
  • Visual inspections.
  • Drug property forfeitures.

Agency Problems in Real Estate

• Agency problems in real estate.
  • Common causes of legal actions involving real estate agents.
  • Consequences of breach of agency duties.
  • Risk reduction recommendations.
• Sub-agency versus buyer agency.
  • Duties of a seller's agent and subagents to the seller (client).
  • Duties of a seller's agent to the buyer (customer).
  • Duties of the buyer's agent to the buyer (client).
  • Duties of the buyer's agent to the seller (customer).
  • Buyer who should or must be clients.
• Dual agency.
  • Duties of a dual agent to both seller and buyer.
  • Unintended or accidental undisclosed dual agency.
  • Risk of dual agency.
  • Disclosure of agency relationship.
• Company agency policies.
  • Seller agency exclusively.
  • Buyer agency exclusively.
  • Drawbacks.
  • Single agency for in-house sales.

Federal Fair Housing

• Federal fair housing laws.
  • Basis of discrimination.
• Conduct prohibited by the fair housing laws.
  • Refusing to sell or rent.
  • Racial steering.
  • Advertising that expresses a preference.
  • Blockbusting.
  • Handicapped discrimination.
  • Families with children.
  • Housing for older persons.
• Consequences of fair housing law violations.
• Risk reduction recommendations.

The Americans With Disabilities Act (ADA)

• The Americans with disabilities act (ADA).
• Title I - Employment.
  • Examples of reasonable accommodations.
  • Title III - public accommodations and commercial facilities.
  • Tax credits.
  • New buildings.
• Reducing risk of ADA liability.
  • Steps brokers can take to avoid legal problems with the ADA.
  • ADA requirements fact sheet.

Antitrust Laws

• Antitrust laws.
• The Sherman Act.
• Antitrust enforcement.
• Reducing risk of antitrust liability.
• Antitrust investigations or complaints.
• What to do.
• What not to do.
• Dangerous words and phrases.

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