Course Name
Risk Management

Course Length
1 hour

DRE Credit
 No

Who Should Take This Course
Real estate salespersons and brokers who would like to minimize the chance of having a claim or lawsuit filed against them or their business.  Learn how to identify, evaluate and protect themselves from the various risks of a real estate transaction.

Course Introduction
Over the past two decades the real estate brokerage industry has experienced an increase in claims and litigation against agents and brokers.

Effective risk management is essential to avoid claims and litigations before, during and after the transaction. This course will help you to identify, evaluate and protect yourself  and your business from these risks. The suggestions, education and advice presented in this course can limit your liability and assist you with the handling of a claim if you are faced with one. 

Chapters
1 – What Is Risk Management?
2 – Risk Management Strategies
3 – Claims
4 – The Agents Role In Mediation
5 – The Pleadings
6 – Good Risk Management Practices
7 – Unauthorized Practice of Law
8 – Contracts
9 – California Real Estate Roles
10 – Signing On Behalf Of A Client
11 – Honesty
12 – Competency
13 - Technology

Subjects Covered

• What Is Risk Management? (Definition and aspects of risk management)
• Risk Management Strategies (Risk Sharing Mechanisms, Risk Prevention)
• Claims (What Is A Claim, What To Do If a Claim Is Made, Coverage Types and Terms, Claims Handling, Mediation)
• The Agents Role In Mediation (Involvement In Mediation, Arbitration, Litigation and Trial )
• The Pleadings (Definitions of Terms, Discovery, Trial, Appeal)
• Good Risk Management Practices (Customer Service, Professional Transactions, Client Selection/Rejection, Documentation, Client Sign-Off )
• Unauthorized Practice of Law (Giving Unlicensed Legal Counsel)
• Contracts (Guidelines During Contract Formation, Contract Termination, Good Faith and Fair Dealing, Cancelling a Purchase Agreement)
• California Real Estate Roles (Responsibilities As An Agent, Working With Clients)
• Signing On Behalf Of A Client (Risks In Signing On Client’s Behalf)
• Honesty (Code Of Ethics)
• Competency (Ability To Competently Complete a Transaction)
• Technology (E-Mail, Voice Mail, Cell Phones)

• Identify the areas that open an agent and/or broker to litigation
• Pro-actively manage risks associated with a real estate transaction
• Define your role when a claim is made
• Define your role in litigation
• Define the responsibilities of an agent in a transaction