PSI has opened select temporary exam centers to handle the back log of test takers, here is what you need to know.
What if you never see your client in person? How do you comply with the relatiohship disclosure rules that require the use of the Relatiohsip Disclosure form at the “first personal meeting”?
Newsday revealed an ugly side of our real estate industry. It would be easy to just let it slip away and glide into the next news cycle. What are we prepared to do?
The Board of Registration has issued a policy statement clarifying that only brokers of record or brokers affiliated with an agency may sign escrow account checks. The statement makes clear that “salespersons and non-licensees are strictly prohibited from being signatories on Escrow Accounts.”
Agencies that currently delegate escrow responsibilities to staff are advised to revamp procedures to comply with the “long interpreted” view of the Board, that only brokers can be signatories.
The best practice, except in cases where multiple signatures are required by the banking institution, is that the Broker of Record be the sole signatory on the escrow account.