BROKERAGE POLICY REVIEW CHECKLIST Created by ChecklistGuro (https://checklistguro.com) --- COMPLIANCE & LEGAL --- [ ] Last License Renewal Date (Brokerage) [ ] Next License Renewal Date (Brokerage) [ ] Summary of Recent Legal Consultations/Reviews [ ] State Regulatory Body Compliance Status (Compliant, Warning Received, Formal Complaint Filed, Pending Investigation) [ ] Copies of Relevant Licenses and Permits [ ] Brokerage's NMLS ID (if applicable) [ ] Summary of Recent Audits (Internal & External) [ ] Compliance with Anti-Money Laundering (AML) Regulations? (Yes, No, N/A - Not Applicable) --- CLIENT RELATIONSHIPS & COMMUNICATION --- [ ] Client Communication Disclosure Policy Review [ ] Mandatory Disclosure Forms Used (select all that apply) (Agency Disclosure, Financial Disclosures, Conflict of Interest Disclosure, Property Condition Disclosure, Other (specify in LONG_TEXT)) [ ] Approved Communication Channels with Clients (Email, Phone, Text Message, Postal Mail, Secure Client Portal, Other (specify in LONG_TEXT)) [ ] Procedure for Handling Client Complaints [ ] Last Client Communication Policy Update Date [ ] Method for Obtaining Client Consent (e.g., written, verbal) (Written, Verbal, Electronic Signature) --- TRANSACTIONS & ESCROW --- [ ] Earnest Money Handling Protocol Version [ ] Detailed Description of Escrow Account Usage [ ] Method for disbursing funds from Escrow (Wire Transfer, Certified Check, ACH Transfer) [ ] Last Review Date of Escrow Agreements [ ] Prohibited Transaction Types (Dual Agency, Foreclosure Consulting, Property Flipping (within specified timeframe)) [ ] Procedure for handling uncashed checks related to transactions [ ] Designated individual/team for Escrow dispute resolution (Broker, Legal Counsel, Compliance Officer) [ ] Copy of Standard Escrow Agreement --- ADVERTISING & MARKETING --- [ ] Approved Marketing Platforms (Brokerage Website, Social Media (Facebook, Instagram, LinkedIn), Zillow/Trulia/Realtor.com, Print Advertising (Flyers, Newspaper), Email Marketing, Other (Specify in LONG_TEXT)) [ ] Content Approval Process [ ] Branding Guidelines Adherence [ ] Prohibited Advertising Claims (Guaranteed Sale Prices, Misleading Statistics, False Promises, Discriminatory Language, Unsubstantiated Claims) [ ] Sample Marketing Materials [ ] Online Review Management [ ] Compliance with Fair Housing Advertising Requirements (Yes, No, Unsure) --- CONFLICTS OF INTEREST --- [ ] Does the policy clearly define 'Conflict of Interest'? (Yes, No, Not Applicable) [ ] Describe the process for disclosing potential conflicts of interest to clients. [ ] Which types of relationships require disclosure (check all that apply)? (Family Member, Business Partner, Previous Client, Lender, Home Inspector, Contractor) [ ] Is written documentation of conflict disclosure required? (Yes, No, Unsure) [ ] Explain the procedure for obtaining client consent when a conflict exists. [ ] How many years of transaction records are reviewed for potential conflicts? [ ] Does the brokerage have a designated Conflict of Interest Review Committee? (Yes, No, Unsure) --- FAIR HOUSING & EQUAL OPPORTUNITY --- [ ] Summary of Fair Housing Policy Review [ ] Protected Classes Reviewed (Race, Color, Religion, National Origin, Sex, Familial Status, Disability, Other (Specify)) [ ] Description of Training Provided on Fair Housing [ ] Date of Last Fair Housing Training [ ] Copy of Fair Housing Policy Document [ ] Method for Handling Fair Housing Complaints (Internal Review Process, Third-Party Mediation, Legal Consultation, Other (Specify)) [ ] Description of System for Monitoring Advertising for Fair Housing Compliance --- DATA SECURITY & PRIVACY --- [ ] Data Encryption Standard Used (if applicable) (AES 128-bit, AES 256-bit, Other (Specify in LONG_TEXT), Not Applicable) [ ] Description of Data Security Training Provided to Agents [ ] Number of Data Breach Incidents in Last 12 Months [ ] Password Complexity Requirements for Agent Accounts (Minimum 8 characters, Minimum 12 characters, Minimum 16 characters, Other (Specify in LONG_TEXT)) [ ] Types of Sensitive Data Protected (Select all that apply) (Social Security Numbers, Financial Account Information, Medical Information, Tax Returns, Other (Specify in LONG_TEXT)) [ ] Last Review/Update of Data Security Policy [ ] Description of Vendor Security Assessments (e.g., for CRM or MLS) [ ] Copy of Data Security Policy Document --- RISK MANAGEMENT & ERRORS & OMISSIONS (E&O) INSURANCE --- [ ] Current E&O Policy Limit [ ] E&O Policy Expiration Date [ ] Coverage Type (e.g., Occurrence, Claims-Made) (Occurrence, Claims-Made) [ ] Summary of Risk Assessment Completed (date and key findings) [ ] Compliance with Brokerage Risk Management Procedures? (Yes, No, N/A) [ ] Number of E&O Claims Filed in Past 3 Years [ ] Upload a copy of the current E&O Insurance Policy (Certificate of Insurance) [ ] Description of any recent changes to risk management protocols, if applicable. --- TRAINING & SUPERVISION --- [ ] Required New Agent Training Hours [ ] Mandatory Training Topics for New Agents (Fair Housing, Agency Law, Contract Law, Ethics & Professional Conduct, Data Security, Social Media Best Practices) [ ] Last Supervisor Training Refresher Date [ ] Description of Supervision Plan for New Agents [ ] Minimum Level of Experience for Supervising Agents [ ] Method of Communication for Supervision (e.g., weekly meetings, email, phone) (Weekly Meetings, Email, Phone, Virtual Platform) [ ] Upload Proof of Completed Training for Agents (Last Year) --- RECORD KEEPING & DOCUMENTATION --- [ ] Last Record Retention Policy Review Date [ ] Summary of Record Retention Policy [ ] Number of Years Records are Retained (Electronically) [ ] Number of Years Records are Retained (Physical) [ ] Copy of Record Retention Schedule [ ] Description of Electronic Document Management System (if applicable) [ ] Types of Records Kept (Select all that apply) (Listing Agreements, Purchase Agreements, Disclosure Forms, Commission Agreements, Correspondence (Emails, Letters), Client Communication Logs, Marketing Materials, Escrow Documents) [ ] Name of Person Responsible for Record Keeping --- END OF TEMPLATE --- Transform this text into a digital, automated, and trackable mobile app! 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