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Young Professionals
REALTOR® Emeritus |  |  | | ||
|  Three Lines of Defense Against Risk Keeping Risks Under Control Controlling Transaction Risks Agency Disclosure Avoiding Antitrust Risks Minimizing Liability from Contracts Fair Housing Risks Controlling Personnel Risks Communications Policies to Minimize Risks Insuring Against Risks More Resources: Controlling Business Risks Code of Ethics: Controlling Business Risks | Fair Housing: 5 Keys to Reducing Liability Ensuring that your company provides equal service standards and encouraging salespeople to keep careful records demonstrating that those standards were implemented equally to all prospects provides a strong defense against charges of fair housing violations. 1. Develop a standardized list of questions salespeople can use to qualify all prospective sellers; develop a similar list for buyers. Have salespeople take down responses to the questionson these forms and keep them on file. 2. Establish specific formulas that salespeople can use to determine the price range of houses that a prospective buyer can afford so that the salesperson’s judgments don’t seem based on discriminatory criteria. 3. Keep a record of every property shown to buyers so that you can later demonstrate that you followed the criteria established in the qualification process. If buyers make requests for specific areas, note that in your records. 4. Keep phone logs of inquiry calls made to the company and train receptionists in a standardized response to questions about the company’s services. Remember that a prospect doesn’t have to become a client to sue for discrimination. 5. Record how the salesperson chose the houses that were shown and what criteria were used to eliminate other potential homes. 4 Tips From a Fair Housing Trainer > | |