REeBROKER HIGH RISK TRANSACTION ASSISTANCE

In the real estate industry, the REeBroker group has observed an increasing number of lawsuits and litigations, especially involving Dual Agency and selling Agent or Direct Relative Owned Property (AOP) transactions. To protect our agents and their clients from making costly mistakes that may lead to lawsuits, and to comply with our E&O insurance requirements, the following new procedures for all High Risk Transactions have been implemented.

A Broker Supervisor is assigned to oversee the entire transaction, may provide agency representation to buyer(s) and seller(s), and/or consult with the principals to prevent any conflict of interest.


BROKER-SUPERVISOR DUTIES & RESPONSIBILITIES

Pre-transaction consultation
Initial transaction verification with seller, buyer, and agent
Comps analysis and disclosure (if applicable)
Review MLS information for compliance
Home history analysis for possible "red flags"
Risk analysis and evaluation
Review all disclosures for CalBRE compliance
Prepare REeBroker Group disclosures for E&O requirements
Provide consultation to all parties involved in the transaction
Closing verification with buyer, seller, and agents
Hotline assistance after business hours and on weekends
Handle conflict mitigation between parties
Final file review (expedited same day processing)
Expedited file acceptance (1-2 hours)
Commission distribution directly from escrow
Complete file storage for upto 7 years

On properly handled High-Risk transactions, the REeBroker Group agent is released from E&O insurance deductible obligation (up to $40,000) and broker will take 100% liability


OTHER HIGH-RISK TRANSACTION

Transactions deemed high-risk by broker discretion and/or E&O insurance Broker fees: based upon individual transaction risk

If you have any questions regarding Dual or AOP transactions, please contact our Broker-Supervisor, Cathy Lester at cathy@reebrokerca.com or 760-722-3222 for detailed instructions on how to comply with these procedures.

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