(1 hr Elective CE Credit)
Cybersecurity and wire fraud breaches are valid threats in the real estate industry, despite efforts to minimze such risks. Wire fraud remains a significant threat and costs our industry billions of dollars in losses each year. Cyber crime continues to grow and criminals are becoming increasingly astute with an expanding toolbox of tricks, from Phishing scams and electronic payments fraud, to “smart” device and computer hacking. Jaime will discuss these threats and how to proactively apporach cyber security in the industry.
Legal Updates (RESPA, CFPB & Marijuana Impacts)
(1 hr Legal CE Credit)
How do changes in Washington effect our industry? The Real Estate Settlement Procedures Act, or RESPA, was enacted by Congress to provide homebuyers and sellers with improved disclosures of settlement costs and to eliminate abusive practices in the real estate settlement process. RESPA has been impacted over the years by several changes and amendments. Chuck Cain will provide insight to some of the recent changes and how they effect our business.
More than half of the nation’s 1 million Realtors® reside in jurisdictions with laws that allow for medical or recreational use of marijuana, which conflicts with federal law and has potential impacts on all types of real estate transactions, from residential and commercial brokerage to property management and leasing. Michigan has approved the marijuana legalization vote for this November and as such, this is a hot topic in our industry.