What is Happening at AgentOwned Realty?
Wednesday, Jan. 21, 2009
Yesterday, Liza had a special class at Johnnie Dodds to explain in more detail the Estate Plan. She had approx. 20 agents. If you are not working on building your tree so that you can make "extra" money, you should be. Come on guys at AgentOwned Realty, this is such an easy way to get that extra cash. It appears that we have now brought on 60 agents to AgentOwned since Oct. 16 when we started this plan. Trees are growing everywhere ----- Do you have one yet?
We have had several contract issues lately that could have been avoided. It is difficult enough to get a contract, so let's be sure that we do everything possible to make it stick.
If you have a contract, for goodness sake, pay attention to details and close it. After all, the ultimate goal is to close and have a happy buyer/seller so that you obtain referrals and/or future business.
Momma Liz
Wednesday, Jan. 21, 2009
Yesterday, Liza had a special class at Johnnie Dodds to explain in more detail the Estate Plan. She had approx. 20 agents. If you are not working on building your tree so that you can make "extra" money, you should be. Come on guys at AgentOwned Realty, this is such an easy way to get that extra cash. It appears that we have now brought on 60 agents to AgentOwned since Oct. 16 when we started this plan. Trees are growing everywhere ----- Do you have one yet?
We have had several contract issues lately that could have been avoided. It is difficult enough to get a contract, so let's be sure that we do everything possible to make it stick.
- Be sure that any and all changes are initialed and dated
- this is causing major problems - if you don't have a changed initialed and dated, you cannot prove when changes are made.
- Just having the initial is not enough in these times
- If you do this, then buyer or seller cannot argue that "this was slipped in after I signed it"
- If you have a contract and the buyers have made loan application, please follow up ---- stay in touch with buyers and loan officer.
- If the loan officer happens to have a friend who is a real estate agent and you don't stay on top of things, you may just lose the buyer to another agent
- No way, you say. Yes, I say.
- Of course, this would be highly unethical, but has been done.
- If you have a contract and you must go out of town, you must get someone to handle your business while you are gone
- All kind of things can happen when you are out of town and even though you "handle everything by phone & email", you really cannot
- Your buyers need to know that you really have their best interests at heart.
- If you must change a contract after it is ratified, it must be done with an addendum to the first contract. You cannot go back to the original contract and just make the changes and initial.
- If a contingency of the contract is not met, the seller can elect to void the contract.
- If it is contingent upon financing approval within 10 days and that clause of the contract has not be changed, then the approval letter, not a pre-approval letter must be provided withing that 10 days or the seller has the option to void the contract.
- If it is contingent upon financing approval within 10 days and that clause of the contract has not be changed, then the approval letter, not a pre-approval letter must be provided withing that 10 days or the seller has the option to void the contract.
- So many are not paying attention to the contingencies in the contract
If you have a contract, for goodness sake, pay attention to details and close it. After all, the ultimate goal is to close and have a happy buyer/seller so that you obtain referrals and/or future business.
Momma Liz
Great advise all in all, Liz! And you're right about the neglect when it comes to contingencies.... as seller's agnets we really need to look out for our sellers. They are the ones that pay for it in the end, not to mention the fact that we also waist our time with a buyer that can't close!
Hey, Liz. Thanks for the reminders that we all need to be on our toes and at the top of our game ALWAYS. It is such a pleasure to have you onboard here with ActiveRain. Take Care, Jim
Liz,
There's that talking voice. I love it. I can relate to this post from my day's with a real estate attorney. I am all over it.
Points that we all need to consider. Thank Goodness we have Holly to keep us on our toes in Sumter!