Although most real estate salespeople work as independent contractors, there are many others in this business who are considered employees under federal and state employment laws. Whether you’re a broker who hires management and support staff or a salesperson with one or more assistants, you need to know how employment laws governing wages, overtime, and record-keeping pertain to you.
At the heart of NAR’s trademark program is a comprehensive set of rules describing the proper use of the REALTOR® marks, which include the term and trademark symbol. The rules are organized around five limitations on the use of the marks, which apply to virtually all uses.
No matter how carefully you fill out every disclosure form and follow every agency rule, at some point in your career, you may be party to a lawsuit or be threatened with one. When that happens, it’s critical to have a disciplined, nonemotional method for deciding whether to settle the dispute through mediation or take it to court.
Think of the time you spend writing a great marketing brochure. How would you feel if your competitors started passing it out as theirs? When you infringe on copyright, you’re poaching someone else’s creativity.
You’re moving on to another brokerage. As you tie up loose ends, don’t lose sight of the biggest transitional issue: how much compensation you’re entitled to receive from your soon-to-be-former brokerage.
Whether you represent the buyer or the seller, looking over the property and providing the findings in writing is a smart way to reduce your liability and protect yourself and your client. Make it your mantra to “ask, look, and recommend.” Otherwise, what you don’t see, and don’t disclose, may hurt you in court.