I attended two seminars this week. It is just a way of keeping current and picking up a pearl here or there in the business. There is so much to learn, practice, share and pursue. Here are some notes in random order.......
- Now more than ever, Real Estate agents are needed to navigate through the barrage of obstacles people are going through now-a-days. Divorces, marriages, births & deaths, job losses and gains, financial losses and gains, retirement or promotions, empty nestors or first time buyers all may necessitate the service of an AGENT sooner or later.
- VISIT......http://www.occ.gov/ to report banks that are misbehaving and get fresh data on foreclosures.
- Mine or tap into your own SPHERE OF INFLUENCE.....consisting of your family, friends of your children, neighbors, members of church, merchants you deal with, barber or hair stylist etc. You refer them and they refer you.
- Sellers still want to know....1). time on market 2). pricing 3). net proceeds 4). marketing & ads 5). your qualifications 6). what it will take to sell.
TDS (transfer disclosure statement) and AVID (agents visual inspection disclosure)
- RISK MANAGEMENT...fail to navigate through this successfully and you will learn the basic rule of going to court...IF YOU LOSE A CASE YOU LOSE...IF YOU WIN A CASE YOU LOSE
- disclosure.......buyers who are not informed but instead surprised later on........ usually sue.
- when disclosing, just point things out. No need to explain.
- choose words carefully. No guessing or predictions
- don't name the source of the problem....not every stain is a water stain, or every crack a settling problem. Just list stain, crack or leak.
- never say you agree with the sellers disclosure statement. Always do your own.
- your seller may be out of town, not speak English, or have a handicap. Let someone other than you help them fill it out.
- recommending an inspection does not relieve an agents part in the inspecting process.
- always make an observation for every part of the home. It is a way of saying you did inspect every part.
- both buying and selling agents should do an inspection and use the mandated forms
- do not use generic terms such as normal wear & tear and "fair condition".
- most of us have never been confronted or held accountable for failing to disclose improperly. An aggressive attorney will tear you apart.
- all this paperwork an agent is required to fill out resulted from many people being sued over the words on the page. Think court....when filling these out.
- liability in business transactions must be avoided, reduced or transferred.
- always defer to a qualified specialist when dealing out of your (inspection) area.
- if there is a death on a property,you have to disclose it for at least 3 years.
- famous properties or famous people who lived in them must be disclosed.
- If Ghosts, unexplained noises or phenomenon exist, disclose them as you know them or have heard.
- courts are holding agents accountable who use the word expert......as in short sale, neighborhood, senior etc.
- When counting cracks......just say cracks. If you say 6 and there are 7, you bought the 7th crack.
- watch your advertising....choose your words. Every word said is used against you later on. Use words that do not promote arguments.
- watch your own qualifications. Makes you accountable. You may be just a little bit dangerous.
- avoid saying.....quiet, safe, flat lot, quality construction, good investment, ready for pool, room to expand, built to code, etc.
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