Tuesday, June 4, 2013

Client Service and Transaction Management

We all hear about great customer service when working with our real estate clients.  One part of the great service we often don't talk about is shielding our clients from unnecessary stress or problems that arise when working with other Realtors during a transaction.

Our profession is constantly in a state of change, especially when it comes to real estate law and the documents involved, such as contracts and disclosures.

Many Realtors get distressed when I tell them that a seller's disclosure is no longer required in Florida, unless the seller is making a negative disclosure about the property.  I have no problem providing a buyer with a seller's disclosure if the listing agent went to the unnecessary trouble of having a seller complete the 5 page disclosure.  Unless there is a negative disclosure, a buyer working with me is not signing or initialing an unnecessary 5 page document.  There's enough paperwork already.

Other Realtors seem to have a problem with the "either, or" clauses in our updated contracts.  If one of the choices is completed, the other choice is then not applicable.  Seems simple, right?  That doesn't stop many from completing both choices, creating extra work for the buyer by requiring another set of initials and printing, faxing or scanning the revision.

One recent example is a Realtor that demanded certain written notifications from the buyer I was working with.  In this transaction, the appraisal contingency was considered satisfied if the buyer either submits written notice to the seller of a satisfactory appraisal, or the appraisal deadline has passed (there's that either/or again).  In the case of the latter, no written notification is required.  Unfortunately, that didn't stop one Realtor from creating a storm of emails demanding something in writing and accusing the buyers of being out of contract.

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