OR 3.0 hours Avoiding Common Mistakes Course Syllabus
3.0 Elective Hours
One of the main focuses in this course is on risk management and how and why to defer risk to other professionals who support the real estate field. These professionals who provide services within the real estate industry are experts in their particular field. Also discussed is the importance of clear and concise documentation as a risk management tool.
With the increase in lawsuits over the last few decades, it's safe to state that we, in the United States, have become a litigious nation. Lawsuits, or the threat thereof, within the real estate industry, are certainly not an exception.
One of the causes, perhaps, is that a party does not have to prove that they were wronged before filing a lawsuit. To complicate this even further, in most jurisdictions, the filing fee is very nominal. So, it becomes quite easy and inexpensive to threaten litigation.
The purpose of sound risk management procedures is to minimize your exposure and reduce your risk of being threatened with a suit. You should emphasize shifting the risk to those professionals who specialize in a particular field within the real estate industry. In doing so, you'll also reduce the risk to your brokerage and to your client as well.