The life of a real estate broker can sometimes feel like walking a tightrope while performing a juggling act. Lose your focus and it could result in a nasty spill.
Mary-Ann Mears knows all about that balancing act. As the Calgary-based managing broker for Sotheby’s International Realty Canada, she oversees 50 agents and three employees across three Alberta offices.
“My biggest challenges are ensuring my agents are current with policies and procedures at the office, that they have a clear understanding of CREB’s rules and regulations, and that all of their transactional activities adhere to the Real Estate Act,” says Mears.
In addition to providing one-on-one mentoring and business planning with her agents, Mears works hard to be proactive and keep her team informed on relevant news and hot-button issues, hosting regular training meetings and reviewing current market conditions.
So when she’s offered a ready-to-use presentation with pre-prepared notes as a learning opportunity for her team, she jumps at the chance.
REIX’s Broker Series offers resources specifically designed for brokers to help them tackle timely risk-related topics with their agents, including conflict of interest, risk hotspots, subject clauses and misrepresentation.
“The Broker Series presentations are tremendously helpful and welcomed. I found the first one, Know Your Client, to be precisely on point,” says Mears.
“The key benefit of being proactive is mitigating the risk of lawsuits for both the agents and the brokerage. It keeps agents sharp. Also, this kind of supporting information helps to minimize the recurrence of common and repeated errors by agents.”
In the end, says Mears, ensuring her agents stay informed is just good business.
“It reduces my risk exposure, their risk exposure and most importantly, our clients’ risk exposure.”
The Broker Series – part of REIX’s Risk Management Support Program (RMSP) – provides brokers with a new PowerPoint presentation and accompanying notes quarterly. Check out the link to view and take advantage of the other resources offered through REIX’s RMSP!
The Real Estate Insurance Exchange (REIX) provides mandatory errors and omissions insurance to over 14,800 Alberta and Saskatchewan real estate industry members and nearly 1,200 brokerages. We’re dedicated to providing high value to our subscribers through exceptional claims, risk and financial management. Be sure to follow us on Facebook!