News
That
Affects Your
Business
Tennessee
Real
Estate
Commission
Policy Statement Number
93-CPS-001
Revision Date: October 4,
1995
Personal
Assistants: Do's
and Don'ts
An unlicensed employee,
assistant, or
secretary
may:
1. Answer
the
phone,
forward calls,
and give information contained only on the listing agreement as limited
by the broker.
2. Fill out and
submit
listings
and changes to any multiple listing service.
3. Follow up on
loan
commitments
after a contract has been negotiated and generally secure status
reports
on the loan progress.
4. Assemble
documents
for
closing.
5. Secure
public
information from
court-houses, utility districts, etc.
6. Have keys
made for
company listings.
7. Write ads
for
approval
for licensee
and supervising broker, and place classified advertising.
8. Receive,
record,
and
deposit
earnest money, security deposits, and advance rents under the direct
supervision
of principal broker.
9. Type
contract
forms for
approval
by licensee and supervising broker.
10. Monitor
licensees
and
personnel
files.
11. Compute
commission
checks.
12. Place signs
on
property.
13. Order
repairs as
directed by
the licensee.
14. Prepare
fliers
and and
promotional
information for approval by licensee and supervising broker.
15. Deliver
documents
and
pick
up keys.
16. Place
routine
telephone
calls
on late rent payments.
17. Schedule
appointments
for licensee
to show listed property.
18. Gather
information for
a comparative
marketing analysis (CMA).
19. Hand out
objective,
written
information on a listing or rental.
20. Give a key
to a
prospect, or
unlock property.
21. Disclose
the
current
sales
status of a listed property.
An unlicensed employee,
assistant, or
secretary
may not:
1. Make cold
calls
by
telephone
or in person to show potential listers or purchasers.
2. Show
properties
for sale
and/or
lease to prospective purchasers.
3. Host public
open
houses,
host
licensee open houses, home show booths, or fairs.
4. Answer
questions
concerning
properties listed with the firm except only that information contained
on the listing agreement as limited by the broker.
5. Prepare
promotional
material
or advertising of properties for sale or lease without the approval of
the supervising broker.
6. Discuss or
explain
listings,
offers, contracts, or other similar matters with persons outside the
firm.
7. Be paid on
the
basis of
real
estate activity; such as percentage of commission, or any amount based
on listings, sales, etc.
8. Act as a
"go-between"
with a
seller and buyer such as when an offer is being negotiated.
9. Negotiate or
agree
to
any commission
split or referral fee on behalf of a licensee.
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