Presentation on theme: "June 2015. TRECCCIM May not discriminate on basis of protected class May not steer May not inquire about, respond to or facilitate inquiries which."— Presentation transcript:
TRECCCIM May not discriminate on basis of protected class May not steer May not inquire about, respond to or facilitate inquiries which indicates any preference, limitation, or discrimination May not deny equal professional services to any person based on protected class. May not be part of any plan or agreement to discriminate May not volunteer information regarding composition May not engage in activity which may result in panic selling May provide demographic information.
CCIM May not publish ads or statements that discriminate May provide demographic information from a recognized, reliable, independent, and impartial source, with the source disclosed
TRECCCIM Ads may not be misleading and must identify the publisher as a licensed broker or agent Must have owner’s written consent to place a sign on property May not offer to sell property without owner’s knowledge and consent Must be honest and truthful in and present a true picture in Ads. Must ensure status as real estate professional is apparent in Ads May use term ‘free’ with disclosure of terms May offer inducements if terms disclosed
TRECCCIM May not offer property on terms not authorized by owner Ad must contain name of broker Ad may not imply salesperson is responsible for the brokerage operation Each page on website is a separate Ad May not advertise without authorization May not quote price different than agreed Ads must contain name of firm Must disclose any ownership interest in Ad To claim “sold” must have participated in sale
CCIM May offer rebates if Ad contains disclosure of terms Should keep info. on websites current
TRECCCIM May not drafts an instrument that transfers or affects an interest in real estate May not advise a person regarding the validity or legal sufficiency of an instrument or title to real property. May not engage in unauthorized practice of law Must recommend party obtain legal counsel when transaction requires it.
TREC It is OK for broker to complete forms if forms are: ◦ TREC forms; ◦ Forms prepared by a Texas attorney; or ◦ Forms prepared by owner Must TREC forms except ◦ When broker is a principal in transaction ◦ Gov’t agency requires otherwise ◦ when form attorney drafted and required by principal’s attorney ◦ When no TREC form exists and attorney has drafted a standard form
TREC May only fill in blanks May not add to or strike, but may strike only items desired by the principals and as is necessary to meet intent of the parties May add factual statements and business details desired by the principals May not add provisions for which a standard addendum exists May not employ lawyer for principals
TRECCCIM May not make a material misrepresentation of a significant defect, known to the licensee May not fail to disclose known defect Must avoid exaggeration, misrepresentation, or concealment Not obligated to discover latent defects Not obligated to disclose confidential facts Only obligated to discover and disclose adverse factors reasonably apparent to a broker
TRECCCIM Broker can give opinion of value if it is: ◦ not referred to as an appraisal; ◦ provided in the ordinary course of business; and ◦ is related to the actual or potential sale or lease May not perform appraisal but may give BPO/CMA of disclosure is in in opinion, verbatim May not act outside member’s area of expertise If giving an opinion of value (outside obtaining listing or formulating offer), then must contain items in the standards
TRECCCIM May not negotiate with client of another broker knowing client is under an exclusive agency with another broker Not prohibited from soliciting a listing from the owner while the owner is subject to an exclusive listing with another broker May not take action inconsistent with exclusive brokerage relationship of another Does not prohibit innovative, but ethical, business practices
CCIM May make general announcements about services, it not targeted at others’ clients Not prohibited from contacting another’s client to enter into a different type of service contract May not contact owner subject to a listing for purposes of entering into another listing, even upon expiration; but may respond if prospective client contacts broker
CCIM Fact client belonged to broker in past transactions does not preclude others from seeking client later Must make effort to determine whether the prospect is subject to a current exclusive relationship Must disclose relationship at first contact and shall provide written confirmation of that disclosure to at time of contract.
CCIM All dealings shall be carried on with the client's broker, and not with the client, except with the consent of the client's broker or when initiated by the client. May not knowingly obligate the client to pay more than one commission except with their informed consent May not induce clients to break existing agency agreements
TRECCCIM Must make clear to all parties for whom broker is acting Must give IABS form at first substantive dialogue May act as an intermediary if authorized in writing and acts impartially May appoint associated licensees (in writing) Must disclose at time of listing or representation agreement, policies about multiple representation
TRECCCIM TREC does not mediate or arbitrate commission disputes Primary duty is to that of client Have duty to arbitrate in accordance with requirements under Art. 17
TRECCCIM To maintain cause of action to enforce a commission must: (i) prove one is licensed; and (ii) produce the written commission agreement. Does not apply to agreements between brokers Must insure that all agreements are in writing, whenever possible, and kept current