Alabama Risk Management: Initial Contact to Accepted Offer

How many times will you be required to review agency disclosure rules? As many times as it takes until it’s no longer one of the top reasons for consumer complaints against licensees (which it is). Alabama license law provides a firm foundation for a successful real estate practice, so this course focuses on key tenets of that law, including the Real Estate Consumers Agency and Disclosure Act (RECAD). In addition to reviewing RECAD, this course provides a breakdown of issues that consistently trip up licensees and/or confuse consumers, including advertising rules, caveat emptor, trust fund handling, and record retention.

This three-hour course provides you with a review of areas of risk from the moment of initial interaction with a consumer, and how those risks can be mitigated through proper disclosure, adherence to fiduciary duties, and a focus on utmost professionalism.

Course highlights include:

• Real Estate Consumers Agency and Disclosure Act (RECAD) disclosures
• Real Estate Brokerage Services Disclosure form
• Required duties when working with buyers, sellers, and the general public
• Proper advertising requirements
• Misrepresentation and caveat emptor
• “As is” properties
• Permitted activities of unlicensed persons when presenting properties
• Trust fund handling and record retention requirements
• Closing cost estimates
• Personal interest disclosure
• Presentation of offers and counter-offers
• Qualifying broker responsibilities and risk management practices