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How Real Estate Brokers Can Mitigate Risk with High-Value Transactions
High-value real estate transactions bring bigger commissions, but also bigger risks for real estate brokers. The stakes are high and any oversight or negligence (actual or perceived) can…
Protect Your Real Estate Transactions: The Latest in Wire Fraud Scams to Watch Out For
Real estate licensees around the world are facing increasing threats from wire fraud scammers. These scammers are becoming more sophisticated as they try to obtain financial benefit from…
Colorado Listing Brokers Not Responsible for Condition of Listed Properties When Not Present
A Colorado court recently ruled in favor of dismissing personal injury claims against a listing broker and her brokerage. The claimant alleged that she slipped and fell on…
The Ultimate Guide to Understanding Real Estate Errors and Omissions Insurance
As a real estate licensee, you need to be aware of the risks within your business and mitigate those risks to protect yourself against potential lawsuits. Real Estate…
CRES Webinar: How to Complete your FFCRA Filing for COVID relief through the self-employed tax credit
If you filed a Schedule SE and reported positive net income in 2020 or 2021, you could be eligible to receive up to $32,200. But you only have…
When Was Your Last Due Diligence Audit for Your Real Estate Brokerage?
Real estate brokers are always telling their clients to do their due diligence when it comes to real estate transactions. But, when was your last due diligence audit…
How to Steer Clear of a RESPA Violation When Co-Marketing a Listing
Co-marketing listings can be a win/win for real estate professionals. It’s an effective way to increase exposure and reach new prospects. It’s also a value-for-money proposition as you’re…
7 Times the Wrong Real Estate E&O Insurance Won’t Cover You
As a real estate professional, you must protect both yourself and your real estate business from potential risks and liabilities. Real Estate Errors and Omissions (E&O) insurance can…
The Differences Between ADUs And ALQs In California
In California, there are distinct differences between an accessory dwelling unit (ADU) and an accessory living quarter (ALQ). This article explains the differences. ADUs and ALQs increase the…
What Real Estate Brokers Need to Know About Anti-competitive Behavior
Real estate brokers have an ethical and legal responsibility to ensure your business complies with antitrust laws. Avoiding anti-competitive behavior, or anything that may be perceived as anti-competitive,…
New California Laws Affecting Housing in 2024
California has several new laws affecting real estate and housing coming into effect at various dates in 2024: Tenants’ Rights Assembly Bill 12 Landlords in California have been…
Closing Gifts and How To Avoid a Lawsuit in Your Real Estate Business
In real estate, many licensees choose to give closing gifts as a thoughtful gesture to wrap up a client’s home sale or purchase. It’s one of the many…
CRES Risk Management Webinar: The Latest Issues Facing Licensees
In our latest webinar, Kathryn Holbert from Nevada Real Estate Law and Dave Miller, Regional Vice President with Fidelity National Home Warranty, talk about the latest risk management…
E&O Retroactive Date: why it’s so important and how does it work?
Most real estate Errors and Omissions insurance policies are “Claims Made” policies. They provide coverage for claims made and reported during the policy year. Claims Made policies cover…
The Most Common Things Real Estate Licensees Say That Could Cause You a Lawsuit
As a real estate broker, you can be held responsible for the things your licensees say. If they say the wrong thing to a client or prospect, you…
Risks for Real Estate Licensees Selling or Renting Penthouses
Penthouse apartments sound sexy and exciting, but they present a unique set of risks that real estate licensees need to navigate carefully if selling or renting them. This…
Dealing with Real Estate Clients Whose First Language Isn’t English
As a real estate licensee, you will likely encounter clients whose first language isn’t English. Working with a diverse range of clients is positive for your business, but…
CRES Risk Management Webinar: Simple Everyday Strategies for Real Estate Professionals to Reduce Your Risk
In this webinar, Mark Carlson from Carlson Law Group, and Dave Miller, Regional Vice President with Fidelity National Home Warranty, talk about how real estate professionals can add…
Top 10 Risk Management Posts for Real Estate Licensees for 2023
As the real estate landscape evolves, so do the challenges faced by licensees. At CRES, we try to keep you informed about issues that could lead to a…
Exploring Confidentiality and the Law for Real Estate Licensees
Maintaining confidentiality is important for any business. In real estate, confidentiality helps to build trust between licensees and clients. But, sometimes a real estate licensee’s duty of confidentiality…
Selling Homes in a High Interest Rate Climate
Are you noticing a slowdown in your market due to the higher interest rates? The increased cost of borrowing can deter potential homebuyers from entering the market,and higher…
How Real Estate Brokers Can Minimize Risks When Expanding into Unfamiliar Territory
As a real estate broker, there may come a time when you might consider expanding your business into unfamiliar territory. This could involve venturing into new geographic locations…
CFPB Abusive Acts Statement 101 for Real Estate Agents in Joint Ventures
Did you pay attention to the Consumer Financial Protection Bureau (CFPB) policy statement on abusive acts and practices? If you are a real estate agent in a joint…
Does Your Real Estate Website Meet ADA Accessibility Requirements?
Having an accessible website is not just a matter of being inclusive — real estate licensees have a legal obligation. You must ensure your website complies with the…
Self-Employed Real Estate Licensees May Qualify for up to $32,220 in Tax Credits under FFCRA
The Families First Coronavirus Response Act (FFCRA) was established in March 2020 to provide paid sick and family leave benefits related to COVID-19. Initially, only companies with W-2…
How Mortgage Brokers Can Minimize the Risks When Using Third-Party Vendors
Mortgage brokers often rely on the expertise of third-party vendors, such as transaction coordinators, in the course of your work. The use of these additional real estate professionals…
RESPA Compliance for Real Estate Brokers
It is essential that Real Estate Brokers have an understanding of the Real Estate Settlement Procedures Act (RESPA). RESPA is a federal law governing real estate transactions involving…
Commercial Claims and How Real Estate Licensees Can Avoid Them
The stakes are often high with commercial transactions. To help real estate licensees avoid commercial claims, we discuss the risks, as well as real-life cases and our top…
How Restrictions on Short-Term Rentals Can Affect Property Managers and Real Estate Agents
A growing number of locations are introducing tighter restrictions on short-term rentals. This is posing significant challenges for property managers, especially those who work across different districts. And…
The Great Resignation – How to Hold onto Your Real Estate Team
Termed "The Great Resignation" by the media, more than 47 million Americans left their jobs in 2021. This phenomenon reflects the increasing desire of many employees to achieve…
Overseeing a New Real Estate Licensee in Your California Brokerage
Having a new licensed real estate agent is exciting, yet challenging for the broker of record and the new licensee. Standard protocol for a new real estate licensee…
Avoid Housing Scams and Protect Your Listings (and Clients)
Real estate scams are becoming more and more prevalent. Housing scammers are finding new and sophisticated ways to try and dupe people into handing over their hard-earned cash.…
How to Communicate with Clients in a Declining Market
Real estate licensees are resilient in any economic climate. Optimism is a strength. However, when it comes to describing conditions in a declining market, licensees need to be…
Augmented Reality and AI Risks for Real Estate Brokers
New technologies such as Augmented Reality (AR) and Artificial Intelligence (AI) are transforming the real estate experience. From virtual tours to chatbots, these tools are adding value to…
Facebook Ads and Posts for Real Estate Professionals and How to Avoid Discrimination
With more than 2.9 billion monthly active users on Facebook, it’s not surprising that it’s a popular place to promote real estate. As with all advertising, real estate…
Short Sale Deficiencies – Risks for Real Estate Professionals and How to Manage Them
When property owners face financial hardship and can’t afford to pay their mortgage anymore, they may try and sell quickly to avoid foreclosure. They typically take what they…
Credit Scores – Risk Management for Property Managers
Ensuring a prospective tenant can afford to pay monthly rent is an important consideration for landlords and the property managers that screen applicants on behalf of landlords. Property…
Property Management Evictions and Maintenance: ClaimPrevent® Summary #9
To help reduce your risk, we’ve summarized all our property management posts on handling evictions and property maintenance over the last two years. Use it as a risk…
How Natural Hazard Disclosure Reports Can Minimize Real Estate Risk (even if they aren’t mandatory in your location)
Sellers must disclose any material defects, problems, or issues with a property that may influence a property’s price or the buyer’s decision to purchase. The actual detail of…
Using Automated Seller Disclosure Forms – Risks and Benefits for Real Estate Licensees
Technology is moving at a rapid pace and new automation tools are appearing all the time. Disclosure issues are a major reason that real estate licensees (and sellers)…
Managing Disgruntled Staff: Risk Management for Real Estate Brokers
Managing disgruntled staff can be difficult in any profession. In a real estate brokerage, disgruntled staff members have the potential to make life very difficult for a broker,…
Property Management Ads and Screening of Applicants: ClaimPrevent Summary #8
Fair Housing Act and Housing Ads Real estate licensees and property managers need to be aware of and comply with the Fair Housing Act. This legislation prohibits discrimination…
Avoiding Biased Appraisals and Discrimination Lawsuits
We all come from different backgrounds, with learned ideas and perceptions based on our experiences. This can contribute to bias, whether conscious or unconscious. Bias, at its core,…
Talking About Zoning with Buyers — Risks and Tips for Real Estate Licensees
Real estate licensees need to act with caution when it comes to talking about zoning with prospective buyers. What may seem like a casual chat can lead to…
What Real Estate Brokers Should Look for When Comparing Business Owner’s Policies
When you own a real estate brokerage, you likely need a Business Owner’s Policy, to combine general liability insurance with commercial property insurance. But not all Business Owner’s…
Avoiding Legal Trouble When Working a Real Estate Contract: ClaimPrevent® Summary #7
Once you’re at the offer or accepted contract stage, there are common pitfalls even the most experienced licensee can fall into if you’re not careful -- from inspections…
Minimizing Risks in Real Estate Transactions with Transaction Management Software
Technology is advancing at a rapid rate in all industries, and real estate is no exception. Transaction Management Software is yet another area of real estate where new…
Do’s And Don’ts Telemarketing Regulations
The Do’s and Don’ts below should give real estate licensees a general understanding of what is required in connection of telemarketing. Violation of the rules could result in…
Minimizing Real Estate Licensee Liability When Listing Foreclosure Properties
When you list a foreclosure property, there are risks that can lead to lawsuits if those risks aren’t properly managed. Here’s what to watch out for and how…
Employee And Independent Contractor Protocol In California
Employee And Independent Contractor Protocol In California Property owners, property managers and real estate agents face a lot of hidden dangers from a risk management perspective in remodeling…
Handling Challenges with Clients and Other Licensees: ClaimPrevent® Summary #6
Could your team – and your new hires -- use a refresher on key risk management areas? This ClaimPrevent® Summary touches on critical details about working with clients…
How Failing IT Infrastructure Can Cause a Lawsuit for Real Estate Brokers
Failing IT infrastructure can cost real estate brokers money. There can be costly outages and potential loss of systems and important data. Brokers may even face a lawsuit…
Cryptocurrency, the FTX Fallout, and Real Estate Transactions
The ripple effect of the collapse of one of the world’s crypto giants, FTX, is now being felt in the real estate industry. The cryptocurrency market was already…
When a Property Owner Wants to DIY: how real estate licensees and property managers can manage the risks
DIY (“do it yourself”) can be an attractive option for a seller or a landlord because it’s cheaper than engaging a professional. But, what about the impact if…
4 Latest Text Scams in Real Estate and How To Prevent Serious Consequences
Scammers are using sophisticated ways to try and get money from unsuspecting businesses and individuals. Text scam messages are one of the methods that scammers use to try…
Filling Out the Purchase and Sale Agreement to Avoid Problems: ClaimPrevent® Summary 5
This summary covers the most common problems when completing a Residential Purchase and Sale Agreement from a Risk Management perspective. Use it to onboard new hires or as…
Handling Offers to Purchase Real Estate: ClaimPrevent® Summary #4
This session covers the writing, review, acceptance, and rejection of real estate offers — all from a risk management perspective. Use this ClaimPrevent® summary for onboarding new hires…
Artificial Intelligence: Opportunities and Threats for Real Estate Brokers
Artificial intelligence (AI) has been at the forefront of recent media coverage. Some commentators have voiced concerns about AI chatbots replacing human customer service, the possibility of widespread…
Antitrust Laws for Real Estate – How Brokers Can Avoid Anti-competitive Conduct
Antitrust laws in the United States exist to protect consumers. They set the ground rules for fair business practices and competition, and prevent monopolies from occurring. But antitrust…
How Using Photo Filters and Editing Property Photos Can Lead to a Real Estate Lawsuit
It’s 2023 and filters are everywhere. There are filters on Instagram®, Snapchat®, and TikTok®, and photo editing tools on smartphones. That’s even without professional tools like Photoshop®. But,…