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  • Az Broker Supervision & Control Audit Declaration 2013

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A Broker's Duty to Supervise Reasonable supervision includes, as appropriate, the establishment of policies, rules, procedures and systems to review, oversee, inspect and manage: a. Transactions requiring a real estate license.

An employing broker wears a number of hats. They're the CEO of the brokerage, run the day-to-day operations of the business and oversee the work of agents on top of handling their own transactions. An employing broker pays the salary of brokerage office workers, but “employed” agents typically aren't salaried.

Reasonable supervision includes, as appropriate, the establishment of policies, rules, procedures, and systems to review, oversee, inspect, and manage: a) Transactions requiring a real estate license. b) Documents which may have a material effect upon the rights or obligations of a party to the transaction.

A. “Responsible broker” means the broker responsible for the exercise of control and supervision of a salesperson, or a licensee subject to discipline under subdivision (h) of Business and Professions Code Section 10177 for failure to supervise activity requiring a real estate license.

A broker shall not permit advance payment of monies belonging to others to be deposited in the broker's personal account or to be commingled with personal monies.

This is referred to as vicarious liability. Therefore, brokers must exercise reasonable and adequate supervision over their affiliated licensees.

The broker may employ other licensees, such as an office manager or transaction coordinator, to carry out their supervisory responsibility to review documents and maintain files.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232