Blog
BLOG REGARDING SETTING UP A COMPANY AND RECEIVING COMMISIONS
Question: I am a licensed real estate agent and want to set up a corporation to receive my commissions. Is this legal? If so, what type of corporation do I set up? May I set up a limited liability company? Answer: According to the California Department of Real...
“AI Webinar with Josh Sharfman”
BRM is providing a Risk Management Webinar for its clients with Chief Technology and Innovation Officer California Association of REALTORS®, Josh Sharfman on September 11, 2023, covering the following topics: What is “Generative AI” and why all the controversy? How...
DEPARTMENT OF REAL ESTATE ISSUES WARNING REGARDING LISTING VACANT LAND WITHOUT VERIFYING THE SELLER’S IDENTITY
The California Department of Real Estate (“DRE”) recently published an alert warning real estate agents about a new scam regarding the sale of real property where the identity of the seller has not been verified. In these circumstances, “fraudsters” will identify...
QUESTION AND ANSWER REGARDING VERIFICATION OF FINAL CONDITION
Question: I am the listing agent and the buyer undertook a final verification of condition and prepared a Verification of Property Condition (VP) and asked for repairs. Is the seller obligated to make repairs? Answer: CAR’s Residential Purchase Agreement (“RPA”)...
ANNOUNCEMENT
Broker Risk Management (“BRM”) has partnered with Austin & Austin and Palomar Specialty Insurance Company, an A- admitted insurer, to provide errors and omissions insurance to BRM clients at less cost with additional benefits. Under this program, any client of BRM...
State Farm to stop accepting homeowners insurance applications in California
In a surprising development, insurance giant State Farm recently announced its decision to stop accepting new homeowners insurance applications in California. This move has raised concerns among homeowners and industry experts alike. State Farm has indicated that it...
Artificial Intelligence Use
Last week, a New York attorney was severely reprimanded by a judge for drafting a legal brief using Chat GBT. The AI tool added cases and citations to the brief that were made up and did not exist. The attorney did not bother to double check the cites, but opposing...
Risk Management Webinar
BRM is providing a risk management seminar on May 31, 2023, covering the following topics: impact of market changes on legal issues; war story; current disclosure issues; current agent trouble areas; CAR new and revised forms; and DRE updates. The webinar is open to...
DRE IS FOCUSING ON UNAPPROVED DBA’s AND TEAM NAMES
Alert – The California Department of Real Estate (“DRE”) is focusing on agents and brokers using unapproved DBAs and, particularly, team names. Please double-check all of your advertising, websites, and signature blocks to ensure any DBAs have been approved by the DRE...
L.A.’s Luxury Market Freezes, Putting Measure ULA Funds in Limbo
The luxury real estate market in Los Angeles has been a hot topic for some time, but recent developments have cast a shadow over its future. The Los Angeles Times reported on May 5th, 2023, that the city’s luxury market has come to a standstill, leaving the future of...
DRE DEVELOPMENTS
The California Department of Real Estate (“DRE”), in the last several years, has focused on ensuring that fictitious names are properly approved by local counties and the DRE. When an agent or team has used an unapproved DBA, the DRE will send a notice in the form of...