User67119_4_t Classic Realty Inc./ GMAC Brent Riethmayer and Trey Thurmond
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A good paper trail is so essential these days. Despite how honest most agents really are..we all make mistakes. The insurance companies like to refer to them as errors and omissions.  Errors and omissions are not the same as intent to fraud  someone.. 

Complete files on every closed transaction and complete files even on those deals that cratered, are so necessary in being able to defend our good intentions and actions..

Always keep EVERYTHING that has to do with your daily business transactions.. You won't regret it!    :)

 Have a Great Week!

 

www.researchvalleyhomes.com

 

 
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13 Comments on Complete Files... Please!

We just learned recently what "everything" means...it also includes any offers that were received and not accepted. We beg our agents to dot every i and cross every t....because it will be the one file that wasn't complete that will be the one to get you in trouble!

06/13/2008 12:18 AM by Paula Swayne, Realtor Older Classic Homes Specialist (Windermere Dunnigan Realtors, Sacramento)


I learned this from an amazing Broker and I can tell you that all of my files have every piece of paper generated - even post it notes and scrapes of napkins :)

Good Reminder

06/13/2008 12:22 AM by Jo Soss | Bremerton WA Real Estate (Skyline Properties, Inc.)


I like to keep a running log of all conversations with a client.  It might be as simple as 1/2/08 "spoke with clients about the commercial construction site near the property they are interested in"  This way I know that I have covered all my bases and have a record of doing so. I have done this for so long that it is second nature to me now.

06/13/2008 12:26 AM by Karen Turney-Phoenix Real Estate (Realty Executives)


This has become a nightmare for the lending business.  because they put most loans into mers now, which is only an electronic registry, the actual papers are getting lost.  that makes it hard to foreclose properly.

06/13/2008 12:34 AM by Heath Coker, Broker Owner (Cape Group Real Estate & REindex.com)


Excellent advise !  I'm a nit pick for details anyways but admit I don't keep everything !

Thanks,

Kimberly

06/13/2008 02:59 PM by Kimberly ( Underwood ) Kostescu (Coldwell Banker Crampsie Realty)


Good post Brent.  As a former auditor, I'm huge believer of keeping the files just like Paula suggested. 

06/13/2008 06:32 PM by Sondra Meyer (United Country Brazos Valley Realty)


Paula

You are so right on this one. We actually had this same discussion in our monthly risk reduction meeting this week.

06/13/2008 11:43 PM by Classic Realty Inc./GMAC Real Estate


Who ever knew that being a lifelong packrat would payoff in this way???  Great advice!

06/13/2008 11:56 PM by Steve Shatsky - Dallas Real Estate & Short Sale Specialist (Keller Williams-Dallas City Center)


Steve

We have 2 warehouses full of so much office stuff!

06/14/2008 11:23 PM by Classic Realty Inc./GMAC Real Estate


Jo, we are  bad abot keeping things like napkins too!  ;-)

06/14/2008 11:26 PM by Classic Realty Inc./GMAC Real Estate


I agree - I've taken to making notes on every conversation I have with buyer and sellers in my day timer to have written history - more for my clarity and sanity, but still, it serves as a date and time stamp!

06/15/2008 10:51 AM by Carol Zingone, Broker Associate, GRI, SRES (Vanguard GMAC)


Thanks for the advise.  I try to be on top of things, but you are right even the most honest Realtors can miss a thing or two.

06/15/2008 02:18 PM by Tina Farinas REALTORĀ®, e-PRO (MagnumOne Realty)


Good Advice--this is why I really like email because I just print a copy of everything to put in the files. 

06/15/2008 02:20 PM by Diane Bell, Hilton Head Real Estate, Bluffton (Charter 1 Real Estate, Hilton Head, Bluffton, SC)


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Real Estate Brokerage: Classic Realty Inc./GMAC Real Estate
Classic Realty Inc./ GMAC Brent Riethmayer and Trey Thurmond
College Station, TX
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Classic Realty Inc./GMAC Real Estate

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