This document discusses real estate agency practices and risk management. It covers topics like working with sellers and buyers, including listing appointments, setting prices, making offers. It also discusses different agency situations like working for a seller or buyer. The document also discusses important risk management practices like following ethics codes, getting errors and omissions insurance, avoiding lawsuits, and complying with laws around discrimination, advertising, and handling trust accounts properly.

1. U N I T 1 2 : E V E RY D AY P R AC T I C E AN D R I S K
M AN A G E M E N T
TEXAS LAW OF AGENCY

2. UNIT 12: EVERYDAY PRACTICE AND RISK
MANAGEMENT
Working with Seller
• The Listing Appointment
• Steps to Follow
• Set the Price with the Seller
• Using the CMA to Help Set the Price
• Sell Your Abilities
• Present the Net Sheet
• Ask for the Listing
• Present the IABS Statement
• Disclose the Agency Relationship
• Establish the Agency with a Listing Agreement
• Servicing the Listing
• Receiving and Presenting Offers
• Counteroffers
• Presenting Multiple Offers
• Handling Back-Up Offers and Contracts

3. UNIT 12: EVERYDAY PRACTICE AND RISK
MANAGEMENT
Working with Buyers
• Buyer Consultation Meeting
• Get to Know the Buyers
• Homebuyer’s Wish List
• “Ask for the Order” – Get the Signed Agreement
• Showing Properties
• Involve a Lender
• Build Rapport
• Buying Signs
• Overcoming Objections to Making an Offer
• Ask the Buyers to Make an Offer

4. UNIT 12: EVERYDAY PRACTICE AND RISK
MANAGEMENT
Practical Guide to Agency Situations
• Listing Broker or Associate Working for Seller-Client
• Listing Broker or Associate Working with Buyer-Customer
• Subagent Working for Seller
• Buyer’s Broker or Associate Working for Buyer-Client
• Broker as Intermediary

5. UNIT 12: EVERYDAY PRACTICE AND RISK
MANAGEMENT
Risk Management
• Follow the Code of Ethics
• Buy Errors and Omissions Insurance
• Avoid Disciplinary Action and Lawsuits
• What Were They Thinking?
• Follow Agency Law
• Use Promulgated Contracts
• Misuse of Forms
• Disclose Material Facts
• Avoid Misrepresentation
• Comply with Advertising Guidelines
• Broker & Salesperson Name
• No False Advertising
• Broker or Salesperson Acting as a
Principal
• Trust Accounts
• Handling Trust Accounts – The Right
Way
• Handling Trust Accounts – The
Wrong Way
• Handling Company Funds

6. UNIT 12: EVERYDAY PRACTICE AND RISK
MANAGEMENT
Follow Anti-discrimination and Antitrust Laws
• Comply with Fair Housing Laws
• Follow HUD Advertising Guidelines
• Words Indicating Preference or Limitation
• Comply with ADA
• Comply with Antitrust Laws
• Summation of Law & Ethics Violations