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!

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

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.

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.

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

Thanks,

Kimberly

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

Paula

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

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

Steve

We have 2 warehouses full of so much office stuff!

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

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!

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.

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