Keller Williams Risk Management & Broker Compliance
KELLER WILLIAMS RISK MANAGEMENT & BROKER COMPLIANCE 030125
OVERVIEW
1. Brokers are constantly working to adhere to CAR |DRE guidelines. Everything done in overseeing compliance is done to
protect our clients, our agents and our company. CAR Legal revises all contract and disclosure forms every 6 months as
required to ensure we are current with all legal issues related to real estate transactions. Brokers are required to review
all transaction documents within 3 days to make sure contracts and disclosures are filled out completely and in
compliance.
2. If there are failures in the risk management systems, the Broker-of-Record is held responsible. If even just one transaction
is brought into litigation, the DRE can audit the risk management systems including Broker review, agent training & agent
adherence to the DRE guidelines for submission of documents, etc. If DRE determines that transaction documents are not
being submitted for review and comprehensive and accurate reviews completed within the DRE-mandated time frames,
the Broker-of-Record may have his/her license suspended or other action. If this occurs, everything stops at the
Brokerage: no commission checks are released, no salaries paid, and closings may be held up. This could have catastrophic
consequences.
IMPLEMENTATION
LISTINGS & SALES PROCESSING & REVIEW –Submit documents within 2 days so that they may be reviewed within 3 days.
This will keep us in compliance with DRE Guidelines. If you are missing an initial or signature, still submit what you have
immediately and then we can obtain whatever is missing later.
Transaction Coordinator: All agents are required to use a TC Hub Transaction Coordinator or an approved TC/Admin who
works for their team. The Team Leader will give final approval.
1. AGENT|BROKER FILES – It is recommended that you set up a folder on your desktop [or Drop Box] with the Subject
Property Address and keep related documents that you intend for your TC to upload to Command in that folder. Once you
have uploaded the listing documents to Command and submitted them for review, then the Broker has copies. All new
Listings or Purchases are to be uploaded into Command and Commission Demand to be submitted within 2 days for
processing.
2. REQUIRED DOCUMENTS – Always use the most up-to-date versions of each document from Zip Forms Library for the most
protection. Agent is responsible to contact City and/or County office for required local disclosures. See Listing & Sales
Transaction Guidelines for checklist(s). There is also a checklist in Command or FAQ Site for your convenience.
3. BROKER REVIEW(S) – You will receive back an email message from the Compliance Manager via Command with the
checklist showing what has been completed and what is still needed. Please see notes for specific documents.
IMPORTANT: Selling Agent responsible to discuss with Buyer the following to ensure Buyer makes informed decisions:
1. All Seller Disclosures [including any attachments & AVIDs] – Check any significant comments Buyer should know.
2. Preliminary title [including any attachments and exceptions – see “links” in e-Pre]
3. HOA Documents & Minutes – Check any significant comments in CCRs or Minutes that Buyer should know.
4. All Inspections & Reports – Understand use of BIE & BIW and RR & RRRR [See Transaction Guideline sheets.]
SUMMARY
Keller Williams Realty is the “agent” in the transaction and is responsible to protect the client in every aspect of the listing or
the purchase of a home. We need your diligence in adhering to these guidelines in order to best represent our clients. In order
for a file to be complete, all documents need to be fully executed & uploaded to Command including copies of the closing
documents & closing checks from title. A complete file is required for Agent’s and/or Transaction Coordinator’s check to be
released.