Although correctly filling out forms is one of the trickiest aspects of being an agent, mastering the art of forms proves to be an essential asset. Forms can always reveal the direction the industry is heading, so get to know the terms and, even more importantly, the intention of the sections. Read on for a few things to expect when creating and completing forms for your clients:
- Watch out for escape areas, or loopholes, that someone can use to back out of a contract. Knowing how to spot these will both save your client the heartache of losing a contract and also give them a way to walk out with no repercussions.
- Don’t forget commonly-overlooked areas. Fill the Agency area out accurately, and ensure you always get dates with signatures. Complete the Seller’s Disclosure and Lead Based Paint Disclosure (if applicable) correctly and with a signature. Deliver earnest money on time. Extend the expiration date past the acceptance date.
- Make sure you review any insurance issues with your clients, perhaps by inspecting the Seller’s Disclosure together in search of any red flags that might flare up prior to going to contract.
At ReeceNichols, our non-selling Brokers are dedicated to helping our agents manage these situations and providing guidance. Our Legal department also works in tandem with you to assist in answering questions and preventing issues from escalating too quickly.