Alabama Risk Management for Brokers
Who wants to get sued? No one, obviously. As a broker, you need to manage risk to effectively protect clients, customers, and your company, as well as protect your real estate license and the licenses of those who work under your company name. To do this, you need to understand risk management and strategies and how to employ them to protect yourself, your licensees, and your clients from unwanted hassles and costly missteps.
The best ways to manage your risks are to know the areas that pose the most risk, understand where and why legal complaints happen, and reduce your liability by following Alabama license law and taking steps to reduce your risks. The ultimate goal is to avoid lawsuits altogether.
This three-hour course reviews Alabama license law, examines possible violations of the law, including mismanagement of trust funds, failure to retain records, misleading advertising, and failure to train and supervise licensees and unlicensed assistants. It meets Alabama’s mandatory requirement for CE on Risk Management for Brokers.
Course highlights include:
- Alabama’s caveat emptor status and what it means for disclosure requirements
- Trust fund setup, deposits and disbursements
- Trust fund reconciliation, record retention and disposal
- How to prepare for a commission audit
- Strategies to effectively train and supervise employees and licensees to minimize risk
- Links to AREC disciplinary actions, including fines of up to $10,000 for failing to properly deposit and account for trust funds