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How To Not Lose Your Shorts With Lawyers

By
Real Estate Agent with Keller Williams Realty 0575737

PredicamentIn the real estate world the lawsuits that can come against you, they tell me are increasing. We are a lawsuit happy society. Defense lawyers quoting the Jerry McGuire movie use that phrase, "help me help you." Preventive stuff---

A few tips:

Make your client like you. They are less likely to include YOU in a lawsuit if they like you.

Keep a good file on each transaction, maintaining it for seven years, so you don't end up with faulty memory.

Make proactive phone calls with current clients and former clients to know what is going on in their lives and how satisfied they are with all things real estate that you have worked on for them.

Do the Texas two step. 1) protect your client with your emails and texts, 2) protect yourself and your Broker by getting clear reponses (written) in agreeing to what they say back to you. Examples they telling you that: Not wanting something repaired, terminating your relationship, clarifying anything

If you can HEAD THE SHARKS OFF AT THE PASS, you are less likely to lose your shorts if something turns into a legal action on any side.

Edward & Celia Maddox
The Celtic Connection Realty - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

Of course, sometimes they like you, until it comes to $$$$$$$$$$$$$

Oct 30, 2012 07:20 AM
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Oh yeah... Excellent Gary....

Oct 30, 2012 08:08 AM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Gary

Your are right on point we have manage our business risks.

Good luck and success.

Lou Ludwig

Oct 30, 2012 09:37 AM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I had a client that did like me and thought I did a grea tjob, but then when an issue came up decided to sue me along with everyone else just because I carry inurance.

I told that I didn't, and she dropped me from the suit.  (of course I did have it)

Oct 30, 2012 12:08 PM
William Johnson
Retired - La Jolla, CA
Retired
Hi Gary, This is very good advise and hopefully all of our members get and take seriously this excellent advise.
Oct 30, 2012 02:45 PM
Pippa Mac
Chevaux Group Realtor, The Woodlands and Spring - The Woodlands, TX
The Woodlands TX Real Estate

Good points here Gary.   So far I have not had anyone turn on me.  pippa

Oct 30, 2012 03:10 PM
Svetlana Stolyarova
Local-n-Global Realty, Cleveland and International Real Estate Solution - Mayfield Heights, OH
Local-n-Global Realty, Broker 216-548-4663

Totally agree with you. Like your clients and make your clients like you - that's the basic principle of litigation prevention. I was lucky not to be sued by any client,thanks to this principle. 

Oct 30, 2012 03:18 PM
Mary Douglas
United Country Ponderosa Realty, Red Feather Lakes, Colorado - Red Feather Lakes, CO
REALTOR, Red Feather Lakes, Colorado

Hi Gary, you're right and even if they stop liking you for one reason or another...when everything is backed up in writing it helps everyone out.  I like my clients enough to make sure that they have everything in writing and encourage them to even READ IT before they sign :-]

Oct 31, 2012 12:59 AM