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Architecture Guide
Cost vs. Value Report
Good Neighbor Awards
Handouts for Customers
Top 100 Companies
Take a Quiz
30 under 30
Young Professionals
REALTOR® Emeritus |
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Risk management Controlling Personnel Risks |
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 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 |
Know Your State Laws State laws differ in their treatment of independent contractors with regard to taxes, workers' compensation insurance, and unemployment compensation. In some states, real estate licensees are not eligible to receive unemployment or workers' comp.
Reprinted from Don’t Risk It: A Broker’s Guide to Risk Management, NATIONAL ASSOCIATION OF REALTORS®, 2000, and used with permission. Order this publication from NAR by calling 800/874-6500. Federal Employment Laws Digest In addition to tax regulations affecting independent-contractor status, business owners must comply with a variety of other laws and regulations governing employment practices. Some issues to consider include:
TIP: It’s illegal to ask questions about protected categories during the hiring process. TIP: In addition to federal statues, check your state employment laws. In some cases, they are more stringent than federal requirements. For example, some states and municipalities have added other protected classes to anti-discrimination laws. - Fair Labor Practices. These laws cover issues such as minimum wages, overtime pay, and child labor provisions. In general these provisions don’t apply to independent contractors. However, if the brokerage company has administrative employees, explore the tests for overtime compensation for exempt and non-exempt employees as defined by federal law. A good basic explanation of exempt vs. nonexempt status is one by Ethan A. Winning from his book Labor Pains. TIP: The Family and Medical Leave Act provides that employers with 50 or more full-time or part-time employees must allow up to 12 weeks of unpaid leave for a serious personal health condition, care of a family member who is seriously ill, or the birth or adoption of a child. Comply With ADA at the Brokerage Office > |
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