ADRE Model Broker Policy Manual-Offers

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Vacations/Out of Town

This section should cover:

  • The methods Sales Associate are required to use to communicate, such as pagers, mobile phones, email, etc.
  • What Sales Associates are expected to do when they leave town or are on vacation, such as designate another Company Sales Associate to handle business.
  • Who is required to be notified about the designation?
  • Under what circumstances will the Company designate a substitute.

Voluntary Office Romances

This section should cover:

  • Company’s policy on employees/Sale Associates dating another employee, Sales Associate and client.

Offers Presenting Offers This section should include:

  • A description of how contracts are to be presented.
  • A requirement that they must be presented in a timely manner.
  • A time-frame for what constitutes a timely manner.
  • Procedures for what to do if the Sales Associate is not available and cannot timely present a contract.

Multiple Offers

This section should cover:

  • How multiple offers shall be handled?
  • Whether the Company requires the use of particular forms.
Quick Quiz

Fill in the Blank:
Company’s on employees/Sale Associates dating another employee, Sales Associate and/or .

Rejected Offers

This section should include:

  • That the offer should be initialed and dated and include the notation REJECTED or VOID across the face of the contract.
  • That rejected offers on Company listings and contract offers must be turned in to the office and retained for one year.
  • Instructions that if a contract results, the rejected offers on Company listings must be kept in the transaction file for five years.

Privacy Policy/Data Security

This section should include:

  • How the company will secure clients’ personal information within the company.
  • Specific instructions on how Sales Associates should relay personal information to others, i.e., proof of funds, leases, earnest money checks, and removal of all account numbers.
  • Physical Documents – how documents will be handled and stored to preclude any unauthorized third-party from obtaining access.
  • Electronic Files – requiring that personal information kept in electronic format must be stored on a computer and/or electronic server that is password protected.
  • Document retention and destruction – how and when documents containing personal information will be destroyed and/or deleted unless required to be retained by law or broker policy.
  • The files and documents that the salesperson may take upon departure.
Quick Quiz

Fill in the Blank:

Physical Documents – how will be handled and stored to preclude any unauthorized third-party from obtaining .

Sales Financing Alternatives

Wrap-around, Carry-back or Subordinate Financing

This section should cover:

  • The Broker’s policy concerning an offer which proposes to wrap, carry, or subordinate a loan which contains an alienation and acceleration clause.
  • What a Sales Associate, whether a seller’s or buyer’s agent, should do when presented with or asked to draft an offer including one of these financing clauses and whether particular forms must be utilized.
  • Whether the Broker requires a special review of the contract to see that proper form and verbiage have been used.
  • The consequences for a Sales Associate who proceeds with one of these contracts without first consulting the Broker.

Special Programs

This section should cover:

  • What training is required for government programs, i.e., Home Affordable Modification Program (HAMP) and Home Affordable Foreclosure Alternatives (HAFA).
  • The Broker’s policy on discussing the HAMP and HAFA programs or similar programs with clients.

Social Media

This section should cover:

  • How the Company recommends its Sales Associates use social media.
  • A list of recommended venues, especially those particularly applicable to real estate.
  • A statement about the use of the Company name and logo on media sites.
Quick Quiz

Fill in the Blank:
The Broker’s on discussing the HAMP and HAFA programs or similar programs with .

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