O/L - Consumer Protection in a Hot Market
Practicing real estate during a hot market is not business as usual. Ethical, legal and practical issues occur when buyers scramble to “get theirs” while listing agents guard the gate—sometimes using questionable means.
No matter the market dynamics, a licensee’s fiduciary duties do not change. A buyer’s agent still has the duty to put client needs first, and help buyers obtain properties meeting their needs for the lowest price possible. Listing agents also must put the seller’s interest first, and try to secure for them the best price and most favorable terms.
This course shows licensees how to navigate hot market dynamics ethically and legally, whether representing buyers or sellers.
Course highlights include:
- An overview of hot market dynamics, including low inventory, cash buyers, multiple offers, appraisal and lending issues
- How to stay ethical, legal and avoid violating MLS rules when taking a pocket listing
- A discussion of private listing groups and their potential risks for fair housing and anti-trust violations
- Buyer strategies for writing winning offers—and guerilla tactics to avoid
- Escalator clauses, what they are and how to respond to them
- Ways to assist sellers in evaluating offers based not only on price and terms but also on buyer strength
- Strategies for responding to multiple offers
- Options for buyers and sellers when properties do not appraise