3.0 hours Risk Awareness Course Syllabus
3.0 Elective Hours.
For sound risk management, there are a few key disclosure issues to remember.
Disclosure must be timely. Be sure that disclosure is made when the listing agreement or buyer’s representation agreement is signed or at a time set forth in your state’s statute. If a sales associate is working with buyers as customers, be sure that a disclosure of the fact that the associates is the seller’s agent or subagent is made to the buyers before any properties are shown. Disclosure must be meaningful, and disclosure must be made to all parties, including other real estate professionals.
In most cases, buyers and sellers are not legally required to sign an agency disclosure form. If a client or customer refuses to sign, the sales associate should indicate on the form the date it was presented and that the person refused to sign.
Obligations to disclose will be different for different clients. If the client is a first-time home buyer, the licensee will probably need to disclose more about the property than normal. On the other hand, if a seasoned property investor is the client, the disclosure obligations will be different.
This course will cover the different types of disclosure and various key issues in risk management. This course is a must have for the real estate licensee.