NY 3.0 hours Avoiding Common Mistakes - Course Syllabus


Course Syllabus:

3.0 Elective Hours

One of the best ways to avoid a mistake is by asking the assistance of someone who has the experience to guide you through safely.

You should seek the advice or assistance from your broker anytime you feel that you or the brokerage may be at risk. If you are at risk, then most likely your brokerage will be at risk as well. Designated brokers and managing brokers are responsible for the supervision and actions of their licensees. The term is referred to as vicarious liability which means that a party (the brokerage) is responsible for the actions of another party (the licensee).

When discussing the details or issues of a transaction with your broker, always let them know early in the conversation if you are representing the buyer, seller, or both. This will assist your broker in understanding the role of each party and the inherent liabilities to you, the licensee, and to the brokerage.

Your broker or manager can be a wealth of information. You may be able to gain a huge amount from their knowledge and expertise. Other advantages of seeking this type of assistance are ease of accessibility, low cost, and risk sharing.

This course focuses on when a real estate professional should seek assistance in their daily careers. Circumstances of when a licensee should seek advice and the role of a managing broker are also discussed.