About This Chapter
Risk Management in Real Estate - Chapter Summary
Get up to speed with the basics of risk management in real estate by studying this fun chapter. Lessons developed by top instructors closely examine antitrust law, vicarious liability and related concepts, enabling you to do the following in a short amount of time:
- Detail supervision responsibilities in a real estate agency
- Define and share examples of vicarious liability
- List and describe types of antitrust law
- Provide explanations of fraud, puffing and misrepresentation in real estate
- Share the meaning of real estate risk management
This chapter's self-paced format enables you to study during your chosen timeframes and visit as often as you'd like. We offer multiple-choice quizzes you can take anytime to find out how well you understand the lessons. If you have questions about topics covered in this chapter, don't hesitate to submit them to our subject-matter experts. Before exam day, feel free to test your knowledge of this entire chapter by taking the practice test.
1. Real Estate Agency Supervision Responsibilities
Licensed real estate salespersons and licensed and unlicensed people assisting them are not allowed to act without supervision. In this lesson, you'll learn about the supervisory responsibilities imposed upon brokers under state law.
2. What Is Vicarious Liability? - Definition and Examples
Most times, a liability lawsuit is directed at the negligent party. Sometimes, a lawsuit can involve parties who are not directly involved in the dispute because of the relationship the outside party has with the defendant.
3. Antitrust Law: Definition, Types & Outline
Antitrust laws are statutes developed to protect consumers from rapacious business practices by making it illegal for businesses to compete in unfair ways.
4. Fraud, Puffing & Misrepresentation in Real Estate
Real estate fraud is an unfortunate reality. In this lesson, you'll learn about the different types of fraud perpetrated by licensed salespersons and brokers in real estate sales transactions. We'll also distinguish puffing from fraud.
5. Real Estate Risk Management: Definition & Insurance
Real estate agents must use risk management strategies to protect their business from catastrophic losses. Insurance products and business structure help mitigate business risks for an agent in case of a lawsuit.
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Other chapters within the Indiana Real Estate Broker Exam Study Guide course
- Introduction to Real Property
- Public & Private Land-Use Control
- Estate Ownership, Rights & Interest
- Deeds & Property Transfers
- Property Titles
- Property Value & Appraisal
- Introduction to Real Estate Contracts
- Real Estate Agencies & Agency Relationships
- Listing Agreements & Property Management
- Fair Housing & Consumer Protection
- Property Disclosures
- Introduction to Real Estate Financing
- Real Estate Lender Requirements
- Federal Real Estate Financing Regulations
- Closing & Settlement Real Estate Transactions
- Real Estate Investments
- Indiana Real Estate Commission & Licensing
- Indiana Real Estate Law
- Real Estate Business Procedures