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Managing Risk in Your Real Estate Business (AZ)

$19
3 Total hours
3 Elective hours
0 Mandatory hours

In residential real estate transactions, you are responsible for assisting clients in one of the largest purchases of their lives. Clients literally risk hundreds of thousands of dollars, or more, and they require your expertise to hold it all together. In addition, people invest not just their money in a real estate purchase; they invest their emotions and their family’s well-being in these transactions. When things go wrong, they look to you as the cause first. Because of this, it’s important for you to have a firm grasp on the concept of risk management and understand how to employ a variety of risk management strategies to protect yourself, your clients, and your business from unwanted hassles and costly missteps.

Course highlights include:

  • A review of basic risk management concepts and key terms
  • A detailed look at common high-risk areas, such as conflict of interest situations; kickbacks RESPA violations; and the failure to research, investigate, and disclose material facts
  • Comprehensive do and don’t lists to help you minimize risk associated with such issues as trust fund handling, contract preparation, and multiple offer situations
  • An examination of online risk management strategies
  • A discussion of how your personal actions can increase your exposure to risk in areas such as fair housing, advertising, and agency duties
  • Checklists for creating a detailed data security and privacy plan for your business
  • An overview of how errors and omissions insurance can protect you from certain liabilities
  • A discussion of the role of the consumer in your attempts to minimize risk

Activities and examples to seal in the new information and frame it in everyday context