Model Office Policy Manual Updated

The NC REALTORS® Model Office Policy Manual has recently been updated by NCR legal counsel in collaboration with NCR’s Risk Management Advisory Group. The new version is now available on the “Members Only” side of the NCR website by clicking on “Business Center, “Resolve” and “Manuals.”

The Model Office Policy Manual contains more than 25 sample policies – from Advertising to Unlicensed Office Personnel – for use in the preparation/revision of a real estate firm’s own policy manual.

Most of the changes are technical in nature, such the inclusion of references to the Mineral, Oil and Gas Rights Disclosure Statement in the Listing Procedures Policy, and the ethical prohibition against discrimination based on gender identity in the Fair Housing Policy. Revisions have been made to existing wording in the Independent Contractor/Employment Agreement Policy relating to workers compensation insurance, and to the wording relating to “as-is” contracts in the Sale Contract Policy.

In addition, the following new sections have been added:

  • A  new Fraud Protection Policy
  • New wording  in the Sale Contract Policy on the use of escalation clauses and the handling of earnest money deposits in cases where the firm does not maintain a trust account
  • New wording in the Risk Management Policy on record retention

A marked-up copy of the Manual is also available for those members who may be interested in seeing the exact changes that have been made from the last version.

Please direct any questions to Legal Assistant Leigh Morgan.

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