Risk Management for Commercial REALTORS®
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Risk Management for Commercial REALTORS®

6 PDP Credits – 3/4 day

This course on Risk Management for Commercial REALTORS® aims to help licensees do just that, manage the risk associated within real estate transactions. This course will discuss the fiduciary relationship created between a licensee and their client. In the context of commercial real estate, a fiduciary duty is one in which the agent must act solely in the best interests of the principal during the agency relationship. Loyalty, confidentiality, full disclosure, obedience, reasonable care and skill, and accounting are all components of the fiduciary duties owed by licensees toward their principal.

By the end of this course, the learner will be able to:

  • explain the nature of agency, and the associated disclosure requirements;
  • determine when to suggest that their clients seek independent legal advice;
  • ascertain when their clients require the assistance of other qualified experts;
  • determine when a standard form contract is appropriate, and when it is not;
  • define representations and warranties, and identify the legal and business risks that they may present;
  • understand the due diligence requirements in different commercial contexts;
  • synthesize the findings of due diligence to suggest additional terms, representations, warranties, and professional advice to address the unique areas of concern of a property;
  • identify when it is appropriate to engage lawyers when drafting commercial contracts;
  • be familiar with the common legal causes of action against licensees:
    • innocent, negligent, and fraudulent misrepresentation;
    • negligence; and
    • breach of fiduciary duties.
  • establish professional practices that help to mitigate risks.

Instructor:

Contact your local member board for course availability and registration.