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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®



  SALES MEETING TOOL KIT: PROPERTY DISCLOSURE
 

Component 1: Facilitator Talking Points

Component 2: Property Disclosure Agenda

Component 3: Handout 1, What Is Liability

Component 4: Activity 1, Recognizing Improper Disclosure

Component 5: Activity 1, Explanations for Disclosure Scenarios

Component 6: Handout 2, Tips for Reducing Your Risks

Component 7. Handout 3, Disclosure Primer and Your Company’s Property Disclosure Form

Component 8: Activity 2, Identifying Defect Red Flags

Component 9: Activity 2, Answers to Red Flags

Component 10: Activity 3: Lead Out Quiz

Component 11: Activity 3, Answers to Lead Quiz

Component 12: Handout 4, A summary of your state’s disclosure requirements under Megan’s Law

Other Resources
  Component 3: Handout 1, What Is Liability?

Active Fraud: Incomplete or false statements purposely meant to conceal information. You lied on purpose.

Passive Fraud: Knowingly failing to disclose a defect about which you had actual knowledge. You didn’t tell the whole truth. You lied by omission.

Negligent Misrepresentation: Making a false statement because you failed to act with reasonable care to determine whether or not something is true or were not careful enough in communicating the information you have.

Negligence: Failing to take reasonable care in discovering and disclosing information about the property.

No one expects you to know everything about a house. Real estate professionals aren’t expected to know about “latent defects,” defects that aren’t apparent without in-depth inspection. But you should be knowledgeable enough as a real estate professional to recognize common property defects that are visible to the naked eye.

Component 4, Property Disclosure >

Note: This information provides general legal information and should not be relied upon as legal guidance. Before acting, both the relevant laws and legal counsel should be consulted. This information should not be construed as specific legal advice nor as an opinion on particular facts, cases, or situations.