Professionally Written Contracts Are A Requirement,
NOT An Option!
Contract Writing 101
Contract writing is probably the most important skill we can develop as real estate professionals.
A well written contract makes a HUGE difference.
- It protects you/your client.
- It makes life easier for escrow officers.
- It insulates you and your broker from litigation.
- AND IT DEMONSTRATES PROFESSIONALISM.
If I get 2 contracts equal in ALL other ways, of COURSE I will suggest to my client that they sign the clear, unambiguous, well written contract over the confusing, sloppy, incomplete one.
Even an otherwise inferior offer that is well written may have an edge!
If your contract writing skills are lacking, take more contract writing classes and practice until you get it right. You are not a truly professional agent until you master this skill.
Here are the necessary basics:
- COMPLETE all fields that pertain to your transaction. We cannot mind-read and if it’s not in writing, it does not exist. Blank spaces make attorneys and escrow officers crazy–as they should.
- Use SIMPLE, understandable verbiage. Your client should be able to understand what they signed!
- Attorneys created most of our R Association’s forms. There is usually no need to change those forms. When you start rewriting, you risk.
- Leave OUT nonessential information that will confuse ANYONE. And make sure you do not contradict yourself on one form that changes the meaning–or voids–another.
- However, WRITE IN EVERYTHING you wish to convey.
- Do NOT EDITORIALIZE.
- Stay on point.
- Check your MATH and SPELLING!
- Look at a CALENDAR before inserting critical dates.
- Use a separate addendum if you run out of room.
- Use a forms program to create your documents when possible.
- If you are printing by hand, please make it LEGIBLE. Many offices, and most banks and companies will no longer accept a contract that is not typed.
CONSUMERS: When deciding who will represent you in your real estate transaction, you may wish to ask your prospective representative the recency–and frequency–of their contract writing skills training. If the agent is not getting at least annual skill upgrades, or willing to show you a clear, well written contract sample, YOU ARE AT RISK.
Poorly written contracts full of loopholes make attorneys salivate.
AGENTS . . . write a clean contract = save a broker's sanity.
AND . . . make more/better deals!
🎶You've got the future in your hand
Signed, sealed, delivered, I'm yours!🎶