Supervision: Arizona Broker Management Clinic 3
Among the broker’s fundamental supervisory responsibilities are overseeing how employees handle trust fund monies, comply with laws and regulations, and document transactions. Also fundamental is finding and applying effective methods of training employees to carry out their duties in accordance with the broker’s policies and procedures. This course surveys these fundamental responsibilities and describes some of the means of fulfilling them. We will examine some of the most important office management tasks that confront the broker and the kinds of policies and procedures the broker needs to develop in order to deal effectively with them. Within the real estate industry, lawsuits are a real threat. We will lay out some sound risk management procedures which can minimize the risk of a suit against the brokerage. This course will also discuss the responsibilities of brokers with regard to two specific areas of brokerage activity—the Real Estate Settlement and Procedures Act, and earnest money handling—and a range of other, more general, supervisory and control activities.