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
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