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RISK MANAGEMENT FOR SALESPERSONS

RISK MANAGEMENT FOR SALESPERSONS. Instructor’s Name. Introduction.

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RISK MANAGEMENT FOR SALESPERSONS

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  1. RISK MANAGEMENT FOR SALESPERSONS Instructor’s Name

  2. Introduction Besides the topics studied in the basic course, the salesperson must also be knowledgeable in the areas of Agency and Sales Contracts in practicing effective risk management. A working knowledge of this information, combined with an innate desire to do what is proper and right, will guide the salesperson through a career of trouble free sales and leasing

  3. I. Agency Roles of the licensee Single agent Limited consensual dual agent Transaction broker Sub-agent Discuss What are the risks? Take one of the roles and identify the risks associated with that role.

  4. Agency Obligations of licensees to all parties Discuss Discuss the meaning of “reasonable skill and care” and some of the specific tasks and responsibilities associated with this obligation to all parties

  5. Agency Fiduciary duties owed to a client Case Study Discuss How can agents representing buyers protect the buyer clients and reduce their own legal risks?

  6. Agency RECAD Simulation Quiz: Access the sample broker simulation questions at www.goamp.com and do the simulation questions about an Open House

  7. Agency Minimum Services Case Study

  8. Agency Myths/Misconceptions/Misunderstandings Commercial property FSBO Other risk management concerns with RECAD

  9. II. Contracts Class Exercise – What parts of the purchase agreement do you feel cause the most problems?

  10. Contracts Types of contracts True/False Quiz and More

  11. Contracts License Law and contracts Furnishing a copy Expiration date Present all written offers

  12. Contracts Elements of a contract Q and A: • Concerning offer & acceptance – When should the agent explain the process to the client? • What about the order in which offers are received? Can either party withdraw? If so, when? • How should the agent communicate acceptance or withdrawal?

  13. Contracts Clauses in a sales contract Q and A or Town Hall

  14. Contracts Sales contract do’s and don’ts Case Study

  15. Contracts Handling specific contract situations Discuss – • What are the risks when working with the buyer and another offer is received by the seller? • Do the sellers have any risks when working with multiple offers?

  16. Contracts Other specific contract situations Case Study Town Hall

  17. III. Licensees As Principals Licensees buying their own property Case Study

  18. Conclusion Keys to effective risk management

  19. Risk Management for Salespeople Supplemental Content Current Issues

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