Real Estate Blog - Practice Makes Perfect!!!!

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Practice Makes Perfect!!!!

Just read Lenn Harley's blog, and it really made me think. I have to thank her immensely for writing about how as agents need to practive our "craft". Do you think twice when you work on these contracts for clients be they a buyer or seller? Or are you unsure? These are legal contracts. We need to be sure how we are constructing them for our clients' benefit. Whether for a private party or a corporate entity (such as a bank) we want our client to be represented to the best of our ability. So practice does make perfect. If there is something you do not understand, before you draft it or, worse, sign it, clients, make sure you understand it!

Legal, enforceable contracts are serious business, and we want everyone to understand what is being agreed to. So, if your agent (or agents, if you don' understand it, get it explained to you) can't explain to your satisfaction, don't sign it.

Posted by Suzanne McLaughlin on 01/15/2009 10:26 PM

Comments (4)

contracts, firsttime buyers, sellers

This post has been included in Minnesota Information Wright County, MN Information

4 Comments on Practice Makes Perfect!!!!

JAN

Hi Suzanne! A friend of mine who teaches the agreement of sale at our local board says something every time he teaches it. I take the course ever year or so, to brush up on the changes... he says the most dangerous addendum in our arsenal is the blank addendum. We need to use our pre-printed, fill-in-the-blank addendums provided to us by our state and local boards whenever possible to make sure we are protecting ourselves as well as the client during a transaction.

Writing a contract is certainly something that should not be taken lightly. One mistake can be costly and you definitely want to ensure that your client is well represented.

JAN

Thanks, Susan, I couldn't agree more. This is something I always tell my clients. We also cross through any blank spots on the preprinted contracts where we have nothing to add. I use a lot of ink to protect my clients from anything being added that we didn't state. Practice, practice and practice just like a doctor or attorney.

Thanks, JL. We all need to be aware of what we intend to do! And, protect and keep the clients' best interest at the forefront!

JAN

And its not just sales contracts, but listing agreements that have errors that could come back to haunt and cost an agent multiple thousands of dollars. Having worked with listing agreements for our office you would not believe the errors agents just skip over. It could become very costly, we all need to be sure we double and if need be triple check paperwork.. because in a court of law, its not what you meant, its what you wrote down.

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