By Byron King: NAR Risk Management Committee Top 3: Teams, Coming Soon, Cybersecurity

//By Byron King: NAR Risk Management Committee Top 3: Teams, Coming Soon, Cybersecurity

By Byron King: NAR Risk Management Committee Top 3: Teams, Coming Soon, Cybersecurity

Wondering what your top three 2019 risk management worries should be?

NAR risk management committee identifies three:

Team issues

Coming soon

Cybersecurity

https://www.nar.realtor/natmeet.nsf/vwAttachmentsByKey/20461AC02FFF293786258354007C7B87/$File/AN18%20Minutes.Final.pdf

Team issues: Remember the BIC supervises and compensates so have all that in writing. Know who your BIC is. Know in writing what your compensation is and how issues change if you leave the team and or brokerage (e.g. compensation, files, leads, clients, customers, pendings, equipment, access to email/software/files). Teams are units so right now it is safest to operate a team in dual agency instead of designated agency.

Coming soon (aka Off MLS listings): Make the listing agreement clear about when the property goes onto MLS and IDX. Must have a valid listing agreement to advertise property (e.g. talk, show, print, Facebook, Craigslist). Seller must give informed consent to avoid MLS which typically can benefit sellers with better terms and quicker offers.

Cybersecurity: Talk to your tech staff. Train everyone on phishing and scam issues. Educate consumers to never trust emailed wiring instructions without proper confirmation due to scams.

Posted by: Byron King on 01/10/19 (This information is only accurate as of 01/10/19. You must contact SCR for updates and changes to this information after 01/10/19 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)

By |2019-01-10T10:00:22+00:00January 10th, 2019|Legal FAQs|0 Comments

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