This April, one of Inman’s most popular recurring theme months returns: Back to Basics. All month, real estate professionals from across the country share what’s working for them, how they’ve evolved their systems and tools, and where they’re investing personally and professionally to drive growth in 2022. It’s always smart to go Back to Basics with Inman.
Looking for more advice? Check out Inman’s New Agent Essentials.
Completing documents correctly is one of the key challenges agents face — and one that causes much angst for new agents. Below are 22 great tips to be aware of — whether you’re a new agent or just want to refresh your knowledge.
1. No one has ever been sued for over-disclosing on material facts pertaining to the sale.
2. When you don’t understand something written in the contract, ASK! There are no wrong questions, just wrong answers. You have a responsibility to your clients to get it right.
3. Follow the Lynae Forbes Rule — when writing a request in a contract it should have a clear objective, deadline and consequence if the action isn’t performed by the other party.
4. Do not leave anything blank on a contract. If it doesn’t apply, write NA. If it is left blank, it can cause confusion as to whether that section was missed or intentionally left blank.
5. After writing additional provisions on a contract, re-read the line as if you were not involved in the transaction. Could a third party, like a lawyer, understand it knowing nothing about the details of the sale? If not, rewrite it with more clarity.
6. It is unprofessional to use slang on contracts.
7. Number your additional provisions points for easy negotiation reference. Never combine two points in one sentence.
8. Label addendums with keywords or phrases rather than numbers in case there are several addendums. Otherwise, it’s too easy to lose track of the count. This confuses lenders and closers (lawyers or escrow officers) who have to execute on these…