Broker Risk Management provides residential Brokers and Agents with a variety of Risk Management tools and services to reduce the risk of claim and loss while enhancing the professional practices, education and understanding of the California residential real estate practitioner. We provide the Broker and Agent with the tools and services necessary to write better contracts, manage escrows effectively and get answers to important transaction questions when they are most needed.
External link for Broker Risk Management, LLP
300 Diablo Rd
Danville, California 94526, US
Broker Risk Management has continued to educate its clients on the NAR settlement and post-settlement CAR forms. At the request of its clients, it will be providing a further training session exclusively for it clients regarding post-NAR issues.
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Major Update for California Homeowners Insurance
On July 15, 2024, Broker Risk Management provided a webinar exclusively for its clients addressing the new CAR forms release. Given its popularity, BRM will be showing the webinar again for its clients on July 23, 2024. Contact us if you are interested in the webinar or becoming a client of BRM.
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In light of CAR’s release of 17 newly revised forms, BRM issued a tip with guidance regarding the new forms release today. On Monday, July 15, 2024, BRM is holding a training for its clients regarding the forms. To become a client of BRM, contact Grant Jones at Grant@brmllp.com.
QUESTION AND ANSWER REGARDING A SELLER CHANGING THEIR MIND ON PAYING A BUYER’S AGENT Question: I am a listing agent and when we signed the listing agreement, the seller advised that the seller did not want to pay the buyer’s agent a commission. The property has not sold. The seller has now changed his mind and wishes to pay the buyer’s agent a commission. How do we document this? Answer: Prepare an addendum to the listing agreement making this change.
CALIFORNIA LEGISTLATURE CURRENTLY CONSIDERING A BILL REQUIRING BUYER-BROKER AGREEMENTS The California legislature is currently considering AB-2992, which would require a buyer’s agent and a buyer to execute a buyer-broker agreement as soon as practicable, but no later than the execution of the buyer’s offer to purchase real property. The bill would prohibit a buyer-broker agreement from lasting longer than three months from the date the agreement was executed, unless the agreement was executed between a real estate broker and a corporation, limited liability company, or partnership. The bill would also prohibit a buyer-broker agreement from renewing automatically and would require the renewal of a buyer-broker agreement to be in writing, dated, and signed by all parties. It is anticipated that this bill will pass through the legislature and become law.
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