CalBRE Audits: Property Management Compliance – What Every CA Broker Needs to Know
Recorded on April 5, 2016. Neil Kalin, Assistant General Counsel California Association of REALTORS and Mary Work, Esq, Presenter. View (C.A.R. login needed – click on the links for materials and the video).
BANKS OFFERING BROKER TRUST ACCOUNTS– May 20, 2016 (revised) The following banks have affirmed in writing that they offer broker trust accounts. This information is provided for the convenience of C.A.R. members. C.A.R. does not endorse any bank listed.
NAR Legal Articles
REALTORMag – The Threat of Wire Fraud is Real Help buyers avoid falling victim to a growing real estate scam that dupes them into giving their purchase money to hackers. Read more
Buyer Fined $60,000 for Frivolous Lawsuit A California appellate court affirmed an award of $60,000 in sanctions against a homebuyer for pursuing a disclosure lawsuit against property sellers and their listing broker even though multiple disclosures had been made about the possibility of defective subflooring. Read more
CAR Legal Articles (login needed)
Latest legal news during the last two months. You’ll see Regulatory News, new Realegals®, and What’s Hot announcements. C.A.R. Legal
Property Managers and the Contractor’s Licensing Law
C.A.R. has created a Q&A article reviewing the contractor’s licensing and real estate laws applicable to a property manager’s duties. Click here to read the Q&A
NSDCAR Legal Articles (login needed)
Solar Power Systems – A Hot Topic! When we think of fixtures that are included in the sale of a property, it is likely that some Brokers and Agents have not considered the application of a modern day solar power system.
The modern day solar power system is a costly proposition. Despite this, we frequently hear the advertising mentioning “free energy” and a scenario where the user no longer pays for electricity from their utility provider. Everything sounds so appetizing. However, it is important to consider the larger picture with these systems. Read more (login needed – click on Legal Articles)
Pocket Listings The issue of taking a listing and not making it available to agents throughout our Multiple Listing Service (MLS) is what everyone is talking about, isn’t it? It’s the “Pocket Listing Scandal”.
CAR has done an excellent flyer on it as well as items in our e-mail and in our magazine. Zipforms has a form for submission of a “pocket listing” as does Sandicor. NAR is dealing with it at the national level. Read more (login needed – click on Legal Articles)
Small Claims Court Assistance Manual for REALTORS® and Their Clients
The purpose of this manual is to help REALTORS® and their clients prepare for and present a case in small claims court. It is not a guarantee that you or your client will be successful in bringing or defending a case but rather a source of pertininent information that should enable the use to make a more knowledgeable and effective presentation. Small Claims Assistance Manual
Pocket listings raise a number of legal and practical issues that agents should consider, including: breach of fiduciary duty to the seller, violation of MLS rules, possible violation of Article 1 of the Code of Ethics, as well as the Standard of Practice outlined in Standard Practices 1-12 and possible Article 3 and the Standards of Practice under that Article, possible violation of fair housing are just a few of the ways a Pocket Listing can increase the risk to your real estate practice. View the full Pocket Listing Q&A here
The Legal scan is a biennial research project undertaken by NAR Legal Affairs. The scan is a valuable tool not only because it tracks where real estate professionals are currently being held liable, but it also identifies emerging issues and trends helping to reveal where additional training is needed.
CalBRE Business Resources: Look for the latest real estate business resources such as, short sales, industry/license resources, state and federal agencies, California Foreclosure Consultant registry.
CalBRE Broker Self-Evaluation: This checklist is designed to assist you in conducting a self-evaluation of your residential real estate business activities. The checklist covers the most common violations found during CalBRE broker office surveys.
CalBRE Broker Compliance Manual: This Broker Compliance Evaluation Manual was prepared primarily to assist the real estate broker conducting residential sales in ascertaining his/her compliance with Department of Real Estate requirements. It contains many of the questions that you would be asked if visited by a Department of Real Estate representative. This manual was not designed to encompass all of your obligations and responsibilities under the Real Estate Law but rather as one of the tools you may use when reviewing your records and office procedures. We hope that it will assist you. checklist is designed to assist you in conducting a self-evaluation of your residential real estate business activities. The checklist covers the most common violations found during CalBRE broker office surveys.