Are you in Compliance?

As I was putting together a listing agreement for my customer I was reviewing what has to be in the listing agreement:

  • First and foremost: you have to have an expiration date.  A listing is not for an eternity (although it seems like that’s how long it takes to sell some of these properties).
  • You have to be able to read the seller’s signature, and some of my sellers write like chickens running across the page.
  • You have to have a listing price.
  • The listing agreement must be returned to the Seller within 24 hours.

ComplianceThese are areas that cause many violations for a real estate company.   Many companies are not in compliance with these rules:

  • If the home was built before 1978,Lead Base Paint Disclosure must be given to the Seller.
  • A blank Seller’s Disclosure that the SELLER fills out, signs and dates.
  • If there are two (or more) people on the deed  and own the property, two (or more people) must sign all or you do not have a valid listing.
  • Last but not least an agent cannot put a lien on residential property for commission (but can on a commercial property).

So my Fellow REALTORS, please be kind and professional to each other, it sure would make our profession easier to work together.

SEE YOU ALL AT CELEBRATION 100 this week in Orlando – Are you prepared to party?

Celebration 100

Until Next Monday…

Matey sig

This entry was posted in 100 Years of Service, 2016 President, A Better You, Conversations, Hot Topic, Rants and Raves, Risk management and tagged , , , , , , , . Bookmark the permalink.

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