Emerging Trends Legal Update. MATTHEW RATHBUN

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1 Emerging Trends Legal Update MATTHEW RATHBUN

2 Hi! I m Matthew! #BROKER #GEEK #TROUBLEMAKER #STORYTELLER #BRANDFANATIC

3 I M NOT REALLY AN ATTORNEY, I JUST PLAY ONE IN THE CLASSROOM

4 MOST IRRELEVANT CONVERSATION IN BUSINESS IS ABOUT HOW THINGS USED TO BE

5 WHAT RISKS ARE YOU FACING TODAY?

6 At his best, man is the noblest of all animals; separated from law and justice he is the worst. Aristotle

7 Casus Belli [cause for war]

8 Willful Disregard

9 Knowing the Difference Contract Custom Regulation

10 TEAMS AND BROKERS

11 Business Instigator Geek Paper-Jockey Firefighter

12 HORIZONTAL TEAMS VERTICAL TEAMS

13 HIRING BY THE TEAM Licensed vs. Unlicensed Assistants

14 HIRING BY THE TEAM Assistants are paid Salary or Hourly (yeah, most likely licensed assistants too)

15 HIRING BY THE TEAM SUBJECT TO BROKER OVERSIGHT

16 COMPENSATION BY THE TEAM 1099 vs W2

17 LETS CHAT ABOUT COMPANY POLICIES Remember, I m not your attorney or one at all, really

18 TEAMS SHOULD: Meet with Broker Have agreement in writing Address compensation in agreement Have Business Entity License Start with the divorce in mind Have written business plan

19 POLICY THOUGHTS Define what a team is: Agent with Assistant Horizontal or Vertical Team Spouse/Partners or Family members Define how awards will be given Define teams as Dual Agents Lead Assignments

20 POLICY THOUGHTS Use of Assistants Required Experience for Team Leaders Internal Recruiting Broker does not resolve team drama No non-compete Do not empower Team to require agent to leave firm

21 POLICY THOUGHTS Which agent is listed as primary in MLS How team will terminate Broker to approve any licensed or unlicensed team member prior to affiliation Background checks for licensed and unlicensed members

22 POLICY THOUGHTS Independent Contractor with Broker Does team leader have signature authority? Hold Harmless for the Broker for team or assistant legal disputes.

23 TEAM RETENTION Provide policy template Make agent sign acknowledgement that template is a draft and should be reviewed by attorney. Provide job description templates Provide toolkit specific to team use Offer coaching for team leader

24 EMERGING TRENDS

25 Negligent Referrals

26 Recommended Language The following list of vendors provides various services to buyers and sellers in Fredericksburg, VA. I ve developed this list to assist clients while in a real estate transaction. Neither I nor [Brokerage Name] warranty these providers or their work. Consumers are encouraged to research their choices by whatever means they deem necessary. Clients are free to use any vendor that they prefer. This list is simply a starting point and clients are free to search online or other trusted resources to obtain referrals. If you are looking for repair providers and your home is built in the year of 1978 or before, please check the EPA website to find vendors, as special training is needed for certain work to be performed on your home. The providers listed below are not guaranteed to meet the criteria of the EPA

27 Coming Soon and Pre- MLS Defined Who Benefits Documentation Advertising Ability Insurance Agency Coverage Compensation

28 IRS Forces Exodus of Independent Contractors Employment law vs. Real Estate law

29 Criteria Used by US Supreme Court The degree of control exercised by the alleged employer; The extent of the relative investments of the (alleged) employee and employer; The degree to which the employee s opportunity for profit and loss is determined by the employer; The skill and initiative required in performing the job; The permanency of the relationship.

30 Technology is constantly evolving and agents aren t. The difference is noticeable and it s getting larger. NAR Danger Report

31 FSBO Develops Into DIY

32 What E & O Doesn t Cover Injury or Property Damage Fair Housing Fraudulent Acts Employment Issues Assistants Staff False Advertising Patents and Trade Secrets Owner Agent Listings Gross Negligence

33 SmartHomes and IOT

34 What is a SmartHome A home that is equipped with products or tools that aid in controlling functions such as temperature, lighting, security, safety and entertainment either remotely via phone, tablet, computer or with a separate automatic system within the home itself. -CNET

35 CNET s Definition Of A SmartHome Home must have reliable internet and 3 of the following: Lighting Smart light bulbs, lighting systems Safety Smart fire/carbon monoxide detectors, nightlight Entertainment Smart TVs, TV Streaming service Appliances Smart refrigerators, smart washers/dryers Heating/Cooling Smart HVAC system, smart fans or vents Outdoors Smart Plant, sensors, smart watering systems *Security Smart locks, networked security cameras *Temperature Smart thermostats *Must have one of these plus 2 others to qualify

36 Surveillance Concerns Audio Video Disclosure Consent

37 Notices and Consent

38 To Convey Or Not To Convey

39 Method of Annexation Personal Property -vs- Real Removed without Damage Adaptability of the Item Item s Use Real or Personal Relationship of the Parties Buyer over Sellers Intention of the Parties Property Temporary Attachment Agreement of the Parties Contractual

40 Directions For Seller Upon Closing Remove Devices That Do Not Convey Patch And Paint Any Damage From Removal Reset To Factory Default any remaining devices Delete Accounts of remaining devices

41 Steps For Buyer Take Photos of Device(s) Before Ratification Be Specific In Contract Personal Property Agreement May Not Be Able To Test At Walk-Thru Research Devices for Compatibility Ask For Documentation From Sellers

42 Big Data

43 Agent Ratings

45 THANKS FOR YOUR TIME! THEAGENTTRAINER.COM FACEBOOK:/MATTRATHBUN That s Jett

GAINESVILLE MULTIPLE LISTING, INC Exclusive Right of Sale Listing Agreement Single Agency

GAINESVILLE MULTIPLE LISTING, INC Exclusive Right of Sale Listing Agreement Single Agency In consideration of this Exclusive Right to Sell Listing Agreement ( Agreement ) contained here, the sufficiency