Broker Management Clinic 3: Supervision (Risk Management) in Arizona

Whether you’re a designated broker, associate broker, or a salesperson, the business of real estate has serious risks. In residential real estate transactions, licensees represent clients in one of the largest purchases of consumers’ lives, and they require licensees’ expertise to hold their transaction together.

Inside the brokerage, risks multiply for designated brokers with affiliated licensees because you may be held liable for the actions, or inactions, of affiliated licensees who work under your license. Claims against a real estate business may lead to disciplinary action, fines, court judgments, and license forfeiture for both you and your affiliated licensees.

Supervision (Risk Management) in Arizona addresses the risks inherent in the real estate business and then focuses on best practices for risk management strategies. This three-hour course meets the Arizona’s statutory requirements for one of the three Broker Management Clinics for designated brokers and delegated associate brokers.

Course highlights include:

• The designated broker’s role and responsibilities
• Steps to effective risk management plans
• How to avoid liability to prevent risk
• Error and omissions insurance as a risk management tool
• Risk management for potential disasters
• Supervision strategies for brokers and managers
• Supervising teams and unlicensed personnel
• Compliant and secure practices for record maintenance and disposal
• Information inventories, data security, and online threats
• Activities and scenarios to reinforce key concepts