A broker informed us during a real estate class that "I DO NOT KNOW"is not acceptable in real estate. We are the real estate professionals. That means we have to set the standard. So, I was reading this months REALTOR magazine like clockwork. One article that came to my attention was the one page article describing the real estate legal danger hot buttons. The picture to the left of us shows a man slapping the other person's hand for discipline reasons. I have known several agents who have obtained a disciplinary action for simple things that happened in real estate. Many times the agent could have avoided it with proper mentoring and additional real estate training.
It seems agency issues seem to be at the top of the list. The main agency issues include the following:
- Dual Agency
- Agency disclosure
- Buyer representation
- Fiduciary duty
The next biggest issue involves commission disputes between brokers. How many of us have been in commission disputes over a real estate transaction. I have honestly never been in a commission dispute since I have been in real estate. Other people tell me to give it time. Times are tough and many agents do not talk to one another during a transaction. It is like two prize box fighters going at it. I believe these disputes can be avoided by working it out between two professional agents. Am I wrong?
Overall, it was a great article for one to review their own practice of real estate. We all need refresher courses in real estate. Real estate continues to change as the market changes. However, I still believe in the "Golden Rule"-Treat others the way you want to be treated. Grandpa instilled that into me. I have mentored or trained over 2,000 people in the last twenty years. Everybody needs a mentor in their real estate career.
Comments(5)