TRAINING: New Social Media Laws, Disclosure & Negatives of Broker-Owned Escrows (VIDEO)

New Social Media Laws, Disclosure & Negatives of Broker-Owned Escrows

• Now a DRE Licensees must include your DRE number and Name on ALL your social media post and any material you use and ANY NEW CONTACT
  • NO warnings- company must pay which means agent will pay
  • If you have your name, you must have your company name
  • Your DRE# must be visible
• No Generic Signs
  • All signs must have company name, your name and DRE#
• ALL agents/clients must COMPLETE TDS and SPQ
  • A disclosure form is for every transaction
• Agent needs to get signatures for confirmation of giving the booklets
  • ALWAYS give the 4 booklets
• “Granny Flats” are now legal
• If you are a broker and join United Real Estate Los Angeles, you are now a Broker under United, not under yourself
• Broker owned escrows are affecting FIRPTA
  • It is not legal for a broker to give out a Qualified Substitute Form for the FIRPTA (QS)
  • Always best to ask for an independent Escrow company