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Keeping Out of Court Is Important to Realtors and to our Clients

By Michael Jacobs

Industry Observer CalDRE #01165532

October 28, 2013 02:57 AM

On Friday, I attended a Coldwell Banker Residential Brokerage “Risk Management” seminar at the Sportsmen’s Lodge in Studio City. Risk management is important for those of us who practice real estate and for our clients and keeping out of court is always a good thing.

Knowing our trade inside/out and working professionally benefits us and our clients during and after a transaction closes. The real estate field is always evolving. Working Coldwell Banker Residential Brokerage - Realtor Michael Jacobs 818.516.4393 cell with change is definitely a part of life. For those of us who practice real estate, each day can be filled with many challenges. Knowing how to overcome these challenges is important and if we don’t know the answers(sometimes finding the questions can be difficult) it’s reassuring to know there is a team working for us who can find the correct responses.

That team was present on Friday(also on Thursday at a meeting in Beverly Hills). The team consists of Michael Hull; Southern California Vice-President, General Counsel, Kathy Mehringer; Director of Risk Management and Sandra Deering, our Broker of Record. Both Kathy and Sandra have been actively involved with the California Association of Realtors on the state level for a long time and are important members of committees shaping our purchase agreement language and other disclosures.

Normally, a three hour meeting on the subject of risk management and other legal issues is met with a less than enthusiastic response. But, I tell you, this meeting was over before I knew it. There was a wide range of topics discussed in the hot topics facing Realtors today, new developments in the industry, bone-chilling case studies, legal summaries, Bureau of Real Estate issues and interactive discussions.

Rather than leaving the meeting frightened to ever complete another real estate transaction - it was reassuring to know this team keeps us informed and up-to-date. With nearly 4000 agents at Coldwell Banker Real Estate Brokerage Los Angeles/Orange County it’s nice to know we are keeping updated for ourselves and for our clients.

Michael Jacobs is a Realtor with Coldwell Banker Residential Brokerage and can be reached at 818.516.4393 cell or michaeljacobs@coldwellbanker.com.

www.camoves.com/michael.jacobs

Keeping Out of Court Is Important to Realtors and to our Clients

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Travis "the SOLD man" Parker; Broker/Owner

Travis Realty - Enterprise, AL

email: Travis@theSOLDman.me / cell: 334-494-7846

I've been both lucky and Blessed to not have to go to Court yet. But, I've also been VERY careful and covered my assets (CYA) with a combination of good training and careful documentation.

Oct 30, 2013 12:23 AM

Evelyn Kennedy

Alain Pinel Realtors - Alameda, CA

Alameda, Real Estate, Alameda, CA

Michael:

Keeping up to date on what we need to do to keep us out of court is so important. My office has a risk management presentation at least once twice a year.

Oct 30, 2013 01:02 AM

Michael Jacobs

Pasadena, CA

Pasadena And Southern California 818.516.4393

Travis - covering the bases and your assets through education and proper documentation is definitely a good thing.

Evelyn - our learning should never end -- it's quite valuable to be on top of our game.

Oct 30, 2013 01:28 AM

Kimo Jarrett

Cyber Properties - Huntington Beach, CA

Pro Lifestyle Solutions

A professional should always be fearless because they know their business, yet to be reminded about certain elements about our business is a prudent and responsible factor to avoid any challenges.

Oct 30, 2013 03:08 AM

Jeanne Dufort

Coldwell Banker Lake Country - Madison, GA

Madison and Lake Oconee GA

I took a 3 hour CE course recently on real estate and the law - there were definitely things that I learned!

Oct 30, 2013 03:21 AM

Gene Riemenschneider

Home Point Real Estate - Brentwood, CA

Turning Houses into Homes

I did risk management before I got into Real Estate. It is a very good tool for a systematic approach to risk and business in general.

Oct 30, 2013 04:14 AM

Marte Cliff

Marte Cliff Copywriting - Priest River, ID

Your real estate writer

One of the things I enjoyed most during the years when I attended "Real Estate School" was hearing the case studies. It's really amazing to see the trouble agents can get into accidentally - and the things some think they can get away with on purpose.

Oct 30, 2013 05:13 AM

Bob Miller

Keller Williams Cornerstone Realty - Ocala, FL

The Ocala Dream Team

Michael, our broker started a "stay out of jail - back to the basics" training and it is a success.

Oct 30, 2013 07:11 AM

Michael Jacobs

Pasadena, CA

Pasadena And Southern California 818.516.4393

Kimo - well said.

Jeanne - I learn(or reminded of) something new(or some change) each time I attend this kind of seminar.

Gene - you should be very well-prepared --- good for you.

Marte - I thought it was interesting the presenters identified the case studies as bone-chilling. You're right, very interesting.

Bob - that's definitely an attention getting title for training.

Oct 30, 2013 07:49 AM

Lyn Sims

Schaumburg, IL

Real Estate Broker Retired

Sometimes these events are just occupied by a bunch of paranoid agents. The 'what if this happens' bunch. Glad at least you learned a few positive things, even though you didn't mention any.

Oct 30, 2013 07:49 AM

Richard Iarossi

Coldwell Banker Residential Brokerage - Crofton, MD

Crofton MD Real Estate, Annapolis MD Real Estate

Mike,

Risk mitigation is one of the most important aspects of our jobs as agents. I've walked away from deals, as I'm sure others have as well, that just didn't pass the smell test.

Rich

Oct 30, 2013 09:37 AM

Michael Ha Elmhurst

Rego Park, Forest Hills, Jackson Heights, Corona, Middle Village - Elmhurst, NY

Woodside, Maspeth

Absolutely true. As much as possible, everything should be legal and written in paper; but that may create an issue between parties. A good attitude may also hekp.. Well, not all people are the same.

Oct 30, 2013 09:50 AM

Kerry L Klun, Broker/Owner

Palm Realty - Melbourne, FL

321-626-5868

Michael, it never ceases to amaze me how some realtors play fast and loose in this area and yet do not end up in a courtroom.

Oct 30, 2013 11:19 AM

MichelleCherie Carr Crowe .Just Call. 408-252-8900

Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA

Family Helping Families Buy & Sell Homes 40+ Years

We have these risk management events annually here at KW too, so agents can learn from others' mistakes.

Oct 30, 2013 12:03 PM

John Juarez

The Medford Real Estate Team - Fremont, CA

ePRO, SRES, GRI, PMN

Risk management is not just about staying out of court. It is also – more important, in my opinion – about staying out of trouble. I can tell you how to stay out of court. Settle when you are sued! A wiser path is to avoid problems by practicing good risk management at all times.

Oct 30, 2013 01:58 PM

Anna Hatridge

R Gilliam Real Estate LLC - Farmington, MO

Missouri Realtor with R Gilliam Real Estate LLC

Thank you for writing about this topic. Recently a client asked why I wasn't in the office and I too was at a class learning how to stay out of court. Just like John said, practicing good risk management at all times it just good business.

Oct 30, 2013 03:33 PM

Michael Jacobs

Pasadena, CA

Pasadena And Southern California 818.516.4393

Lyn - I know we've all seen the perpetually frightened agents at events like this from time to time. Many of the issues presented at the seminar were related to what's happening today in our marketplace and in the state and can be dealt with best with better communication. California is highly litigious so keeping up and hearing about the latest lawsuits or hot buttons at the California Bureau of Real Estate is quite helpful and often very enlightening.

Hi Rich - yes, isn't that the truth? Better safe than sorry.

Michael - attitude is definitely a factor - a very big factor.

Kerry - well, there's always some bad apples but as a whole, I'd say our industry is a pretty good crop of people who really care about doing the right thing.

Michelle - indeed!

John - that's an excellent point.

Anna - definitely a good business practice. And lots of practice helps us be much better in our jobs.

Oct 30, 2013 11:47 PM

Kathy Opatka

RE/MAX CROSSROADS - Ocean City, MD

Serving Ocean City, MD, & The Delaware Beaches

It's nice to know that your time wasn't wasted! I get a little nuts when I sit through 3 hrs of a program & have not 1 thing to take away and use! It sounds like your team was well prepared!

Oct 31, 2013 12:40 AM

Steven Murray, Broker, SRES® IRES SRS Toronto Real Estate Board

Right At Home Realty Inc. Brokerage - Oshawa, ON

Your Durham Region Real Estate Broker

That's why being properly educated and doing do diligence on any deal is important. The only winners in court are the lawyers.

Oct 31, 2013 09:46 PM

Michael Jacobs

Pasadena, CA

Pasadena And Southern California 818.516.4393

Kathy - like any of us who has sat through a seminar or a meeting only to fidget or try to stay awake, it's good to be in a meeting where the good information flows freely.

Steven - that's for sure! Thanks for the comment.

Nov 03, 2013 05:40 AM