BROKER MANAGEMENT CLINIC #2 – Broker Policies

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BMC #2 – Broker Policies

The objectives of this course are to provide the student with an understanding of identifying and implementing the required elements of reasonable supervision with employees.  Detect and implement measures to systematize effective risk management in their real estate company.  Use the ADRE model office policy manual to properly and more efficiently structure policies and procedures in their real estate company. The establishment of broker supervision policies (A.A.C. R4-28-1103) or practical application for enforcement of the policies, or emphasizing those policies that ADRE has identified as common complaints or violations and how to avoid them. Be able to develop and utilize an effective Independent Contractor Agreement (ICA) in their real estate company.

 

BROKER MANAGEMENT CLINIC 

BMC #2 – Broker Policies (3 HOUR CREDITS) Commissioner’s Standards

The 9-hour BMC is required for:

  • A renewing Designated Broker.
  • A renewing Delegated Associate Broker that is, one who has delegated the authority to act on the Designated Broker’s behalf under A.R.S §32-2151.01(G).
  • An original broker applicant, who must complete the BMC before the applicant’s broker’s license may be activated.

Who is not required to take the new BMC?

  • A salesperson or broker is acting as the Designated Broker in the Designated Broker’s temporary absence under A.R.S §32-2127(D).
  • A salesperson or associate broker working as a branch manager under A.R.S §32-2127(B) &(C), except for a Delegated Associate Broker acting under a delegation authority under A.R.S §32-2151.01(G) who is acting as a branch manager.
  • A “temporary broker” licensed for the purpose of winding up the business of a deceased designated broker under A.R.S §32-2133.
  • Either a Designated Broker or Delegated Associate Broker who, during the current license period and before January 1, 2013, completed the 3-hour BMC.

Lessons

ADRE Requirements Office Policy Manual

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson Effective August 6, 2002, Commissioner’s Rule R4-28-1103 was adopted that requires a broker to establish and enforce written policies, rules, procedures, and systems to: Review and manage transactions requiring a…Effective August 6, 2002, Commissioner’s Rule R4-28-1103 was adopted that requires a broker to establish and enforce written policies, rules, procedures, and […]

ADRE Model Broker Policy Manual – Agency

Length: 5 minutesComplexity: Standard

🔊 Listen to Lesson Agency Relationships This section should clearly describe the company’s policy on agency. The following are examples of different forms of agency the company may implement: The Company represents the seller/landlord…Agency Relationships This section should clearly describe the company’s policy on agency. The following are examples of different forms of agency the […]

ADRE Model Broker Policy Manual – Annual 1099 Report

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson Annual 1099 Report This section should cover: What IRS 1099 forms will include and exclude (such as any deductions) and who pays deductions. Earnings that are paid out of escrow…Annual 1099 Report This section should cover: What IRS 1099 forms will include and exclude (such as any deductions) and who pays […]

ADRE Model Broker Policy Manual – Assistants and Teams

Length: 7 minutesComplexity: Standard

🔊 Listen to Lesson Assistants and Teams This section should include: The Broker’s policy concerning Personal Assistants, permissible and prohibited activities, compensation, equipment/office space, withholding tax, worker’s compensation insurance, Company liability. If used, team…Assistants and Teams This section should include: The Broker’s policy concerning Personal Assistants, permissible and prohibited activities, compensation, equipment/office space, withholding tax, […]

ADRE Model Broker Policy Manual – Business Relationships

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson Business Relationships/Vendor Referral Policy (RESPA) Real Estate Settlement Procedures Act (“RESPA”) governs the conduct of real estate brokers on the federal level. RESPA is also an anti-kickback act. This section should…Business Relationships/Vendor Referral Policy (RESPA) Real Estate Settlement Procedures Act (“RESPA”) governs the conduct of real estate brokers on the federal level. RESPA […]

ADRE Model Broker Policy Manual – Commissions

Length: 5 minutesComplexity: Standard

🔊 Listen to Lesson Commissions Collection of Commissions This section should cover: Costs of recovering any commissions and who pays for the costs: the Company, Sales Associate, or someone else. Division of any forfeited…Commissions Collection of Commissions This section should cover: Costs of recovering any commissions and who pays for the costs: the Company, Sales […]

ADRE Model Broker Policy Manual – Commissions – Part 2

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson Deferred Commission This section should cover: How any deferred commissions received will be paid to sales associates. If a beneficial interest can be assigned to a sales associate and under…Deferred Commission This section should cover: How any deferred commissions received will be paid to sales associates. If a beneficial interest can […]

ADRE Model Broker Policy Manual – Customer Care

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson Customer Care (Duties to Clients and Non-Clients) Representing Clients A.A.C. R4-28-802 and R4-28-1101 provide guidance on duties a licensee has to his/her clients. Unlicensed assistants may be used to perform…Customer Care (Duties to Clients and Non-Clients) Representing Clients A.A.C. R4-28-802 and R4-28-1101 provide guidance on duties a licensee has to his/her […]

ADRE Model Broker Policy Manual – Disclosure Policy and Documents

Length: 5 minutesComplexity: Standard

🔊 Listen to Lesson Disclosure Policy and Documents Affidavit of Disclosure This section, for transactions involving (five) 5 or fewer parcels located in an unincorporated area, should include the use of the Affidavit of…Disclosure Policy and Documents Affidavit of Disclosure This section, for transactions involving (five) 5 or fewer parcels located in an unincorporated area, […]

ADRE Model Broker Policy Manual – Disclosure

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson Fissure Maps 32-2117. Earth fissure maps; posting; immunity A. On receipt of maps from the Arizona Geological survey, the state real estate department shall provide any earth fissure map to…Fissure Maps 32-2117. Earth fissure maps; posting; immunity A. On receipt of maps from the Arizona Geological survey, the state real estate […]

ADRE Model Broker Policy Manual – Employees

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson All Employment Records must be maintained for five years (A.R.S. § 32-2151.01(A)). This section may include information about: Benefits Insurance Paid Time Off Holidays Enforced Absences, i.e., Jury Duty, Military…All Employment Records must be maintained for five years (A.R.S. § 32-2151.01(A)). This section may include information about: Benefits Insurance Paid Time […]

ADRE Model Broker Policy Manual – Internet/Websites

Length: 5 minutesComplexity: Standard

🔊 Listen to Lesson Internet/Websites/Social Media/Blogs This section should include: Internet Who is allowed to use Company computers. What can the computers be used for, i.e., personal vs. business. Does the Company have email…Internet/Websites/Social Media/Blogs This section should include: Internet Who is allowed to use Company computers. What can the computers be used for, i.e., […]

ADRE Model Broker Policy Manual – Areas of Expertise

Length: 5 minutesComplexity: Standard

🔊 Listen to Lesson Areas of Expertise This section should include: What is the Company position on working outside of an area of expertise? What does Company require as far as education for areas…Areas of Expertise This section should include: What is the Company position on working outside of an area of expertise? What does […]

ADRE Model Broker Policy Manual – Earnest Money

Length: 5 minutesComplexity: Standard

🔊 Listen to Lesson Dress Code This section should include: The Company’s dress code in office. Appropriate attire when interacting with clients. Earnest Money This section should include: That the amount and type of…Dress Code This section should include: The Company’s dress code in office. Appropriate attire when interacting with clients. Earnest Money This section […]

ADRE Model Broker Policy Manual – Digital, Hire, Lease

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson Electronic/Digital Signatures The ADRE provides guidance regarding using Electronic signatures in Substantive Policy Statement 2005.10. This section should include: Whether or not the Company will allow electronic signatures. What electronic/digital…Electronic/Digital Signatures The ADRE provides guidance regarding using Electronic signatures in Substantive Policy Statement 2005.10. This section should include: Whether or not […]

ADRE Model Broker Policy Manual – Partnership

Length: 6 minutesComplexity: Standard

🔊 Listen to Lesson Partnership Agreements between Sales Associates This section may include the following topics: Sales Associates who elect to be partners shall draft an agreement between themselves. Sales Associates must have the…Partnership Agreements between Sales Associates This section may include the following topics: Sales Associates who elect to be partners shall draft an […]

ADRE Model Broker Policy Manual – Property Management

Length: 5 minutesComplexity: Standard

🔊 Listen to Lesson Property Management If the Company allows property management, this section should cover: Transaction records for property management transactions must be kept for three years. Residential leases must be maintained for…Property Management If the Company allows property management, this section should cover: Transaction records for property management transactions must be kept for […]

ADRE Model Broker Policy Manual- System

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson Termination Policy ADRE Model Broker Policy Manual-System This section should include: Procedures for when a Sales Associate terminates association with the Company, or the Company terminates the Sales Associate, such as:…Termination Policy ADRE Model Broker Policy Manual-System This section should include: Procedures for when a Sales Associate terminates association with the Company, or […]

ADRE Model Broker Policy Manual – Offers

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson Vacations/Out of Town This section should cover: The methods Sales Associates are required to use to communicate, such as pagers, mobile phones, email, etc. What Sales Associates are expected to…Vacations/Out of Town This section should cover: The methods Sales Associates are required to use to communicate, such as pagers, mobile phones, […]

ADRE Model Broker Policy Manual – Transaction Paperwork

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson Transaction Paperwork and Management Listings This section should include: A Sales Associate must turn in every Listing to the Broker immediately upon the Seller’s signature. Any additional documents the Broker…Transaction Paperwork and Management Listings This section should include: A Sales Associate must turn in every Listing to the Broker immediately upon […]

ADRE Model Broker Policy Manual – Transaction Logs

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson Transaction Logs This section should include: A description of the manual or automated chronological or other numbering system used to log transaction files. All purchase contracts and lease agreements must…Transaction Logs This section should include: A description of the manual or automated chronological or other numbering system used to log transaction […]

ADRE Model Broker Policy Manual – Trust Accounts

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson Trust Accounts This section should cover: Whether the Company has a trust account. If the Company has a trust account, what procedures should Sales Associates follow to submit checks to…Trust Accounts This section should cover: Whether the Company has a trust account. If the Company has a trust account, what procedures […]

INDEPENDENT CONTRACTORS AGREEMENT: BMC #2

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson AGREEMENT Independent Contractor.  Contractor agrees to work for Broker as an Independent Contractor, and not as an employee; however, Contractor understands that Broker may be legally accountable for the activities…AGREEMENT Independent Contractor.  Contractor agrees to work for Broker as an Independent Contractor, and not as an employee; however, Contractor understands that […]

INDEPENDENT CONTRACTORS AGREEMENT Part 2: BMC #2

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson Commissions to Contractor:  As commissions are paid to Broker through the efforts of Contractor, the following percentage of any and all such commissions shall be paid to Contractor by Broker…Commissions to Contractor:  As commissions are paid to Broker through the efforts of Contractor, the following percentage of any and all such […]

INDEPENDENT CONTRACTORS AGREEMENT Part 3: BMC #2

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson Non-Liability for Actions or Inactions of Contractor: Contractor agrees to indemnify, defend and hold Broker harmless from any and all liabilities, obligations, suits, actions, claims, losses or demands asserted against…Non-Liability for Actions or Inactions of Contractor: Contractor agrees to indemnify, defend and hold Broker harmless from any and all liabilities, obligations, […]

INDEPENDENT CONTRACTORS AGREEMENT Part 4: BMC #2

Length: 4 minutesComplexity: Standard

🔊 Listen to Lesson Termination: This Agreement may be terminated by either party upon thirty days’ written notice. [or specify other reasons for termination]. [Optional:] It is agreed Broker or Contractor may terminate this contract by direct…Termination: This Agreement may be terminated by either party upon thirty days’ written notice. [or specify other reasons for termination]. [Optional:] It is agreed Broker […]

Final Exam – BMC # 2 – ADRE Model Broker’s Policy and Procedure Manual

Complexity: Standard

🔊 Listen to Lesson The Final is not timed. Once you have passed this final… For The BROKER MANAGEMENT CLINIC #2-Broker Policies Remember to PRINT OUT YOUR CERTIFICATE, and then you may move on to…The Final is not timed. Once you have passed this final… For The BROKER MANAGEMENT CLINIC #2-Broker Policies Remember to PRINT OUT YOUR […]

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