The Latest Issue

Beware of the One-Two Punch Expected in the Fair Housing Law Arena
The combination of a recent unfavorable Supreme Court decision along with dramatically increased federal funding for fair housing enforcement could spell bad news.

Claims Stories

• Stories From the Front Lines
  Two local attorneys speak on the kinds of claims they have seen come across their desks.

Cyber Exposures

• Hot Off the Wire: Beware of Fake Wire Instruction Scams
  There is a new brand of fraud being perpetrated on buyers and sellers, often using real estate agent email accounts.

Client Relations

• Considerations for Handling Multiple Offers
  An agent with multiple offers on a listing should take time to strategize with the seller about options for proceeding and review the pros and cons associated with each option.
• Advising Clients In A Down Market
  Advises agents and mortgage brokers on how to give solid and informed advice to their clients.
• Alternative Dispute Resolutions (ADR)
  Identifying multiple ways to settle disputes.
• Home Warranty Plans: Protection for All
  The benefits of home warranty plans as valuable protection against claims and litigation relating to defects.
• Negotiating a Smooth Closing Experience
  What real estate agents can do to make their clients' closing experiences as problem-free as possible.
  

Disclosure

• Full Disclosure Needed With Short Sales
  Practitioners handling short sales face substantial risks if sellers conceal their financial instability.
• Beware—Before You Buy or Sell Your Own Property
  Gives tips to brokers or agents to minimize their risk of exposure when conducting a real estate transaction for themselves.
• Double Up At Your Peril
  Explains the importance of disclosure in the case of dual agency.
• Proper Disclosure
  Fulfilling your disclosure duties - in ambiguous situations, documentation is key.
• Property Defects
  Listing broker not liable for failure to disclose property defects when defects were patently obvious.
• Staying Out of Trouble
  Two attorneys talked with us about "the granddaddy of all issues that come up with real estate agents" - disclosure.
• Fulfilling Your Disclosure Duties
  In ambiguous situations, documentation is key to staying out of trouble.

Environmental

• Mold Is More Than Just A Builder's Problem
  Discusses the possible resurgence of mold claims against real estate agents and brokers.  
  
• Disclosing Adjacent Hazards
  Brokerage firm liable for actual and punitive damages for misrepresenting existence of toxic waste site adjacent to subdivision.
• Duty to Disclose Off-Site Conditions
  Real Estate brokers have duty to disclose off-site conditions that are material to the sale of property. 

Fiduciary Duty

• Fiduciary Duties of Real Estate Professionals
  A brief overview of what they are and how not to breach them
• Disclosing the Purchase of an Adjoining Tract of Land
  Does a broker have a duty to tell a seller about the buyer's negotiations to purchase adjoining tract?
• Expired Listing Agreements, Remaining Duties
  Does an agency relationship continue, even after a listing agreement expires?
• Inspecting the Issues Involving Inspectors
  Inspectors can provide essential information when evaluating the purchase of a particular property.
• Keeping Potential Buyers Informed
  Does a broker breach fiduciary duty by not informing potential buyer of termination of another pending contract?

Unconventional Sales

• A Lawyer’s Perspective: Avoiding Legal Landmines in Vacant Land and Lot Sales
  Today's real estate professional faces many challenges when representing buyers or sellers in vacant land and lot sales. One challenge is avoiding hidden legal “landmines” that can result in errors and omissions claims, lawsuits, and/or licensing complaints.
• Think Twice Before Entering Into REO Listing Agreements
  With the incredible rise of foreclosures and REO properties, lenders are looking for agents to handle bundled listings.

Fraud

• Builder's Competence
  Broker held liable under state consumer fraud act for misrepresentations about a builder's competence.
• Turning the Tables on Flipping Schemes
  Many industry insiders believe appraisal fraud is escalating, but it's difficult to gauge fraudulent activity.
• Focus on Flipping: Its devastating effects and what the government is doing about it (Part 2 of a series on flipping)
  Property flipping has quickly become one of the more common methods of defrauding investors.

Legal

• Understand the Regulations and Risks of Drones
  Unmanned aerial systems (more commonly known as drones) soon may be an integral part of the real estate profession. In fact, in some situations they are being used now through test exemptions from the U.S.
  
• The Fair Housing Act—Surprise, You’re Liable
  Real estate agents around the country have been sued for advertising homes and condominiums as being in age-restricted communities, when in fact the particular community does not meet the Fair Housing Act exemption for housing for older persons.
  
• Fifteen Steps To Stay Out of Court
  These recommendations are best practices that real estate agents can integrate in their daily activities. 
• Changes in Florida's Escrow Reporting Requirements
  Recent amendments impose new burdens on real estate brokers and agents to report on the status of escrow deposits in transactions in which they are involved and stiffen penalties for mortgage fraud.
• Distressed Property
  Discusses expanded liability under a new "distressed property" laws in Washington.
• Understanding Starker Exchanges
  It fills you in on IRS Section 1031 exchanges that offer win-win opportunities for agents and their clients.
• Acquiring Companies
  Provides tips for mitigating risk during a merger.
• An Agent's Checklist for a Successful Acreage Transaction
  Agents involved in acreage transactions should know the areas of concern and be able to direct their clients (buying or selling) to the appropriate experts. Issues from land usage to environmental concerns are addressed in this article.
• Invalid Power of Attorney
  Seller's broker not liable for failure to discover and disclose to buyer that seller had invalid power of attorney.
• Megan's Law
  The implications of Megan's Law for real estate practitioners.
• The New Residential Purchase Agreement
  The California Association of Realtors recently released its revised residential purchase agreement. 

Sales and Marketing

• Using Photographs in Real Estate and MLS Listings: What Every Agent Needs to Know Before Activating a Listing
  Many people assume that if photos (or videos) appear on the internet anyone can use them for any purpose without permission.
• Pitfalls for Real Estate Agents in the Electronic Age
  The electronic age has changed the communication tools for real estate agents and brokers. Real estate professionals must display some proficiency with some form of electronic media, including email, texting, blogs, Facebook, Twitter, YouTube, LinkedIn, and many others.
• Buyer's Injury
  Broker could be liable for buyer's injury during open house.
• Don't Let Those Flyers Get Away From You
  Examples of misrepresentation through the use of fliers and advertisements by Real Estate agents and suggestions on how to mitigate the risks.
  

Second Homes

• Buying and Selling Vacation Homes - Case Study: The Outer Banks
  Takes a look at the potential issues surrounding buying and selling a vacation home.

Understanding Why You Need Insurance

• Mortgage Brokers Beware
  Explains why mortgage brokers need insurance and the steps to take to mitigate their risks.