Real Estate Brokerage Essentials® Fact Sheet

November 15, 2016

Product Fact Sheet

The National Association of REALTORS®, NAR Product Management group, is proud to announce the complete update and redesign of the Real Estate Brokerage Essentials®: Navigating Legal Risks and Managing a Successful Brokerage, Fourth Edition product. Real Estate Brokerage Essentials is the most comprehensive business tool for brokers to run their offices efficiently and minimize their risk for legal liability.

This product covers everything from hiring and training employees, licensing issues, dealing with consumers, key intellectual property concepts and how to understand and deal with tough business issues. The product was created by NAR’s Legal Team and includes a foreword by NAR General Counsel Katie Johnson.

This comprehensive guide includes training modules on some of the most relevant topics to provide an easy source for assisting brokers with creating effective training programs on risk management issues. The guide offers current case law, checklists, training worksheets, and does so in a way that anyone can relate to. It offers quick tips and helpful summaries and checklists on many of the topics to assure Brokers and able to successfully manage their businesses.

The product features 15 updated chapters with 30% of the content being new, including one completely new chapter called Emerging Risk Management Issues. Some of the new additions include content on; drones, medical marijuana, REALTOR® safety and data security, ADA policies, teams, license reciprocity, social media and internet advertising, money laundering, and distracted driving.

What: A completely updated and redesigned nearly 400 page physical product called Real Estate Brokerage Essentials®: Navigating Legal Risks and Managing a Successful Brokerage, Fourth Edition featuring:

15 comprehensive updated chapters, with nearly every chapter including new content, new figures and/or new case summaries, significant content changes are indicated with an asterisk below *:
1. Workplace Law and Office Policies*
2. The Independent Contractor in Real Estate*
3. Licensing Issues*
4. Agency/Brokerage Relationships with Consumers*
5. Antitrust and the Real Estate Brokerage Firm
6. Fair Housing*
7. Misrepresentation and Failure to Disclose*
8. Intellectual Property, Technology and the Law*
9. Data Security & Privacy *
10. NEW -Other Risk Management Issues*
11. Use of Other Professionals & RESPA*
12. Insurance
13. Internal Complaint-Handling Procedures
14. Alternative Dispute Resolution
15. Litigation
Content created by the NAR Legal Team
30% New content, including all new sample forms and figures and new content on drones, medical marijuana, REALTOR® safety and security, ADA policies, teams, license reciprocity, social media and internet advertising, money laundering, distracted driving and more…
Foreword by NAR General Counsel Katherine Johnson
7 chapters’ end with a training modules that allows the broker to test their knowledge and work through the topics addressed
Includes 5 checklists, 42 figures, 6 tables and definition on 41 topics
Includes updated legislation including 40 acts or legal statues and 72 updated case summaries
Includes 70 online resources
This product is a true step-by-step guide to understanding key legal and risk management concepts

Who: The following groups have the ability to purchase this new product:

Broker owners
Managing brokers
Franchises and firms
National, State and Local Association staff
International members

When: The product launched November 1, 2016.

How: Real Estate Brokerage Essentials: Navigating Legal Risks and Managing a Successful Brokerage, Fourth Edition is sold online at www.store.realtor and onsite at NAR conventions. Here are the sales and distribution details:

Physical product –Item 126-359 Member Price $32.95 (Non Member $49.95
- Due to the importance of these issues we’ve reduced the price by more than 50% from the 3^rd Edition
- Additional bulk discounts for large orders and early ordering discounts will be available
- Discounts available for previous purchasers
Digital download-Item E126-359 will be available 6 months after launch