12 Hour Broker Management Continuing Education Course Outline Template (Page 2 of 3) in pdf

D. Sponsoring Broker Responsibilities

1. Draft and Provide Office Policy

Office Policy Topics/Examples

2. Written Employment Agreements With All licensees

3. Compensation Policy

4. Timely delivery to IDFPR/DRE of All Information Regarding Licensees (Sponsor Cards,

Terminations, Address Changes etc.)

E. Supervision

1. Responsible for Activities of Sponsored Licensees (including Managing Brokers, any

Team members, Licensed Assistants and Unlicensed Assistants)

2. Name and Remain Responsible for the Named Managing Broker(s)

F. Agency Agreements ‐ Brokerage Agreement, Listing Agreement

G. Record Keeping

H. Policy for Exclusive Listings, Current Trends and Duties of Licensees Representing Clients

Cooperation Between Brokerage Firms and Sponsorees

Risk Management; Industry Specific Concerns; Business Broker Act of 1995

II.

MANAGING BROKER

A. Managing Broker Responsibilities

B. Supervision

1. Supervision Over Activities of Sponsored Licensees (including any Team members,

Licensed Assistants and Unlicensed Assistants)

2. Implementation, and communication, of Office Policies to Sponsored Licensees

Established by Sponsoring Broker

3. Training Licensees, Licenses Assistants and/ or Unlicensed Assistants

4. Confidentiality (Records, Client Information)

5. Supervise and Assist Licensees with Real Estate Transactions

a. Handling Earnest Money as a Seller’s Agent when Brokerage Firm is not

Escrowee

b. Handling Earnest Money as a Buyer’s Agent

c. Review TRID Issues/Providing Brokerage Figures to Title Company

d. Reviewing Brokerage Agreements, Contracts and Disclosures (signatures

when dealing with: spouses, pending divorces, dual agency)

6. Supervise Escrow Accounts to Ensure Compliance

a. Earnest Money Deposits

b. Electronic Record Keeping

c. Transfer of Funds; “Uniform Disposition of Unclaimed Property Act”

7. Supervise All Advertising to Ensure Compliance

a. Advertising in Any Media or in Any Service

b. Adverting in All Social Media

8. Train and Hold Sponsored Licensees Accountable on Requirements of Federal and

State Laws and Local Ordinances related to Real Estate, e.g. RESPA, TRID etc.

9. Dispute Resolution: Disputes Between Licensees and Client/Consumer Disputes

III.

GROUNDS FOR DISCIPLINE/UNPROFESSIONAL CONDUCT

A. Duties to Client, Relationships with Customers/Consumers and Best Practices

B. Managing Broker’s Supervisory Role and Possible Discipline of Managing Broker for Failure

to Supervise

C. 15 Types of Unprofessional Conduct

D. Complaint Process for License Law Violations

E. Examples of License Law Violations and Disciplines Issued

Page 2 of 3

12 Hour Broker Management Continuing Education Course Outline Template Page 2

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