April 10, 2018
10:00 am - 1:00 pm
Students will be able to understand and identify the different brokerage relationships, the management responsibilities of real estate firms, the License Law requirements for fidelity bonds/insurance with respect to the community association industry, the nuances of licensees moving from one company to another, and the sensitive issues around support personnel and their authority under the License Law. Students will be learn about areas addressed by the License Law that usually do not touch and concern the community association industry, such as the requirements of qualifying brokers and affiliated licensees concerning trust and escrow accounts, advertising property for sale or lease, and handling real estate transactions. Students will focus on how these requirements impact all licensees as principals in a transaction regardless of the type of license held by an individual. Students will explore and discuss actions prohibited by the License Law and be able to explain the consequences of their actions if they exceed the scope of their authority granted by the Broker and the Board of Directors and if they violate any provision of the License Law.