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When an Opinion Becomes a Guarantee (4:06)

Covers: The difference between the wording used by an agent to express an opinion or a guarantee regarding the future ownership of a particular property; Honestly held opinions about an uncertain future event which do not impose liability, versus assurances worded as a guarantee; Special circumstances which expose an agent to liability when voicing an opinion
Published 10/15/19

Estimates as Projections or Forecasts (4:05)

Covers: Estimates about an income property’s future performance as either a projection or a forecast; Use of an Annual Property Operating Data Sheet (APOD) to provide buyers with the annual income and expenses incurred to operate a property; Changes in circumstances considered in a forecast

Is it a Section 32 loan? (5:01)

Covers: How the Home Ownership and Equity Protection Act (HOEPA) protects consumers against potential abuses in connection with high-cost home loans.

Referral Fees Between Brokerages (2:24)

Covers: Compensation for a referral by or between brokers permitted under the Real Estate Settlement Procedures Act (RESPA); Properly directing the payment of any fee through an agent’s employing broker; Disclosure to a client of any compensation received from a service provider related to a real estate transaction

RESPA Controls Indirect Kickbacks (1:56)

Covers: Prohibited indirect kickbacks provided by third-party service providers in exchange for referrals from brokers or agents; RESPA regulation of “closed offices”; Significant services provided by a broker or agent when receiving a fee from a lender

Kickbacks as a RESPA Violation (2:21)

Covers: Prohibited kickbacks which increase the cost of doing business; No second service, no second fee rule; Real Estate Settlement Procedures Act (RESPA) penalties for improper kickbacks

The RPI Purchase Agreement – Better Protection of Your Fee (2:39)

Covers: Seller’s agent’s fiduciary duty to present all legitimate offers received, regardless of the form on which the offer is written; Failure to present an offer is an affirmative representation the offer doesn’t exist; RPI forms are engineered to provide maximum loss protection; Deliberately excluded provisions which work against the best interests of participants

Analyzing the Purchase Agreement (3:15)

Covers: Universal characteristics of the purchase agreement; Identification; Price and terms; Acceptance and performance; Property conditions; Closing conditions; Brokerage fee; Signatures and agency confirmation

The Purchase Agreement in Practice (2:24)

Covers: A buyer’s use of the purchase agreement to prepare and submit a written offer to purchase property; A seller’s use of a new purchase agreement on different terms to submit a counteroffer; Purchase agreement as a checklist of provisions an agent is to consider when preparing an offer; Use of escrow instructions to bind a buyer and seller as though they had entered into a purchase agreement

California Real Estate Forms and the Freedom of Choice (3:21)

Covers: A broker’s freedom to use any real estate form they choose; Mandatory forms dictated by statute and generic forms unique to each publisher; Purchase agreement variations; Your professional use of RPI forms

Purchase Agreement Types and Variations (1:39)

Covers: The primary document used to negotiate a transaction between a buyer and seller; Three main categories of purchase agreements; Purchase agreement variations for the specialized use of a property

Fee Sharing by a Broker Under RESPA (2:22)

Covers: Acceptance of referral fess under the Real Estate Settlement Procedures Act (RESPA); Prohibited referral fees and double dipping; Properly sourcing new clientele and sharing fees

Referral Fees and Business Development (2:29)

Covers: Developing a business model for finding and locating new clients on a regular basis; Cooperation among licensees in the form of referrals; Referral fee agreements versus finder’s fee agreements

Finding and Introducing Participants (2:56)

Covers: Services which may be performed by a finder, such as finding and introducing participants; Activities which may not be performed by an unlicensed finder, such as taking part in any transaction negotiations; Penalties for performing unlicensed activities

Finders: a Nonlicensee Referral Service (2:04)

Covers: Locating, identifying and referring potential clients to brokers and agents in exchange for a fee; Limitations placed on the conduct of a finder; No fiduciary duties imposed on an unlicensed finder

Provisions for Payment of a Fee (3:27)

Covers: Operative fee provisions in an exclusive right-to-buy agreement; Calculation of fees; Entitlement to a fee under an agreed-to safety clause