Special Town Hall Meeting

June 13, 2017 9-11 am

Orange Beach Community Center
Orange Beach, Al. 36561

What do we really know?

Knowing the letter of the law is not anyone’s favorite part of selling real estate, but it is arguably one of the most important parts of our job. Though we all work and act in ways that we believe to be appropriate and within the legal guidelines, too often agents are unknowingly breaking laws.

Creatures of habit

We are creatures of habit. We do things a certain way because that’s the way we have always done it. We may not even know why we do things a certain way but we certainly don’t want to change. To change would get us out of our comfort zone.

A Town Hall style meeting

Alabama Real Estate Institute is always trying to provide the best quality information available. We strive to stay abreast of the most current laws affecting the real estate industry and then we pass that knowledge on to our students. This is the reason we decided to have this “town hall” style meeting. Politicians use this type venue to get their message out and to gain support. So I decided to try it.

Attorney General speaks out

The main speaker for our meeting is Mr. Chris Booth. He is an Attorney General, appointed by the Governor of Alabama. He is also the senior counsel for the Alabama Real Estate Commission. I view him as the person that will prosecute us if we violate the state licensing law, and he is the one that will defend us when we’re in the right. Therefore, when he speaks, we should listen. During this meeting we will learn things that are not printed in articles.

Some of the topics discussed

Topics that will be covered in this town hall meeting are listed below; plus questions that you may want answers to.

  • Complaints received by the legal department of the real estate commission
  • What cost should be included in an estimated closing statement
  • Recovery fund verses E & O Insurance
  • Disclosure of caveat emptor and agency at initial contact
  • Power of Code of Ethics compared to the law
  • Property management issues and agent rentals
  • Disclosure of earnest money not collected
  • Real estate signs on non-listed property
  • RECAD and estimated closing statements as they relate to commercial property
  • Receipt of commissions bypassing the broker
  • Concessions and compensation as an inducement to purchase

It cost nothing for you to attend with the exception of your time. Breakfast type food will be provided at not cost to you. We do, however, ask that you RSVP me so I can save you a seat and make sure we have something for you to eat.

Please make sure you thank these sponsors for helping make this meeting possible.

Anchor Title and Excrow

Gold Star Realty

ACOPIA Home Loans

 

 

 

 

                       

 

 

Continuing Education Classes for 2018

CE Classes in Orange Beach

            CE Classes in Orange Beach

CE Classes at the beach in 2018

Alabama License Law requires all licensees to renew their license prior to August 31 of the renewal year. Since licenses are renewed every other year, on even years, 2018 is our license renewal year.

Continuing Education (CE) Deadlines

Additionally, all licensees are required to complete a minimum of 15-hours continuing education between Oct. 1, 2016 and Sept. 30, 2018. If a licensee does not complete the continuing education requirements by Sept. 30, 2018, their license will automatically [Read more…]

A Day In Court Rated AAA+ by Realtors

If you are no longer interested in receiving mail from us, click to Unsubscribe Me

New CE Requirements

All licensees must complete Risk Management Avoiding Violations and either Risk Management for Salespersons or Risk Management for Brokers. All brokers must complete Risk Management Avoiding Violations and Risk Management for Brokers.

Since most people want to complete all their CE requirements at the same time, we have made that possible by offering all required courses on the same day.

We are very excited about the one-of-kind elective course “A Day In Court.” It promises to be fun, exciting, educational and one that will form memories for a lifetime.

Day One A Day In Court 9am-4pm 6 Hrs. CE Credits $60  
Day Two Risk Management…. Avoiding Violations 8am11pm 3 Hrs. CE Credits $30  
Day Two Risk Management for Salesperson 11am-3pm 3 Hrs. CE Credits $30  
Day Two Risk Management for Brokers 3pm-6pm 3 Hrs. CE Credits $30  

10 Minute Break Each Hour and One Hour Lunch Break Both Days

Special Note: Salespeople taking Risk Management for Brokers will help a salesperson realize the legal liabilities that are placed on the qualifying broker. Additionally, by taking three different Risk Management classes, the salesperson should be well prepared to limit their liabilities while protecting their clients best financial interests.

Class Dates

July 9-10 July 23-24 Aug. 6-7 Aug. 20-21 Sept. 3-4  Sept. 17-18

To register for these classes send an email to Jame@AlabamaRealEstateInstitute.com and give the name, date your cell phone number. You can pay and register the day of class.

NOTE: Make sure you bring your real estate license number to class because I can’t issue your CE credits without it.

 

Location: Class will be held at the Orange Beach Community Center, 27235 Canal Rd. 36561

For additional information call James Anderson (251) 979-2530. I look forward to seeing you in class.

Alabama Real Estate Institute–PO Box 2115, 416 E. Laruel Ave., Foley, Al. 36535

 

 

How Is Your Prototype Working?

Is This A Prototype?

Is This A Prototype?

Prototype is a word that is not used much with the general population. Contrarily it is used daily in the manufacturing industry. As an example let’s take a thermal coffee cup and see how it came into being. Somebody had an idea about putting a cup inside another cup while leaving a little space between the walls of the two cups. Theoretically it would insulate the contents of the cup, keeping it either hot or cold. The insulation would prevent the cup from sweating when the contents are contrasting temperatures. The new features would make it more desirable which would increase sales. The cup would sell at a higher price improving profits. At this point it is only an idea; a theory that will make money when mass produced.

The first cup has to be hand-made. Two separate cups of the appropriate sizes will probably be turned on a wood lathe and then a handle applied later. The finished product is used to shape a mold that is made from a material that will be user friendly to the material of finished product. Molds are wooden, clay, metals, plastics, earthen soil, waxes and other materials. Once the mold is smoothed and fits properly, it is ready to use. [Read more…]

Holiday Season

ChristmasMerry Christmas and Happy New Year!

I would like to take this opportunity to wish everyone that reads this message a very Merry Christmas and a Happy and most prosperous New Year. Enjoy all the blessings life has bestowed upon you and remember those that will go hungry and be sleeping in cold during this Holiday Season. Remember the reason for the season always. May your family be safe in that all they do!

Cheerfully,

James Anderson

More Alabama CE Requirements for 2014

Manage Your Risk–Know the Law

It has been less than two weeks since our CE deadline for 2012 and I’m already looking forward to 2014? Yes I am but for different reasons than you think. Real estate agents are the worst procrastinators I’ve seen in all the industries I work with. Alabama law requires only 15-hours of continuing education for each licensee in order to renew a two-year license of which the licensee can complete any time between Oct. 1 of odd year and Sept. 30, of even year; two years later. Agents have a full 24 months to complete their CE requirements but they wait until the last 4-6 months to take their CE and some don’t even meet that deadline. Some have their license placed inactive until they can complete their CE and then pay a fine to re-activate their license. Of the 15-hours required, only 3-hours of Risk Management have been mandatory up until now. All other 12-hours are elective courses; this means the agent selects their courses of choice. Some agents will select courses that are very easy to complete quickly and they may not have any legal or beneficial content at all. For that reason, we now have three separate 3-hour Risk Management classes to fulfill the needs for both sales people and brokers; both of which are required to take a minimum of 6 hours CE in Risk Management.  I will break these down and explain them individually. [Read more…]

Can I get out of my contract?

Can I get out of my contract?

Contracts Are Legally Enforceable

An attorney, if asked that question, would say, “Before I can answer that question I would have to see the contract and know more about your particular situation.” That sounds like a good response to me, but you can count on his answer costing you $100 or better just for consultation time. I would probably say the same thing but I can’t charge for my answer because I’m not an attorney, and my answer would only be my opinion. Let’s look at some very important facts about contracts.

First a contract, according to contract law, is a legally enforceable agreement to do (or not to do) a specific thing. The key words in this definition are “legally enforceable.”  Many of us agree to do or not to do something almost every day but if we don’t stand by our word, we can’t be forced to honor our agreement. Some contracts, in some states can be oral but then it’s one person’s word against that of someone else. Oral agreements are easily disputed and very difficult to enforce. A marriage ceremony is an oral contractual agreement and they are broken every day. So what makes a contract legally enforceable? [Read more…]

My Agent Didn’t Tell Me—What Can I Do?

Some situations are confusing!

I was asked by a reader to elaborate on a personal situation that exists in the purchase of a home.  This is what she wrote; “Hi! I was wondering about a situation that I have going on with the company that sold us our home. I am having a hard time buying insurance because my roof has not been replaced in 26 1/2 years. And this was not disclosed at the time of closing. Can you give me some advice?” As you can see she gave me very few facts to work with but I will write this as a response to her.

 I appreciate the fact that you valued our opinion enough to write in seeking a response. First I must disclose that I am not an attorney and do not give legal advice, other than advising you to seek legal counsel from a qualified attorney. I will however, share some Alabama laws and real estate practices that can affect a buyer or seller of real estate in Alabama.

  [Read more…]

Establishing Relationships

Relationships--A Pleasant Experience

People buy retail items from total strangers without giving it a second thought.

Generally the sales person is only collecting money for goods they have. It requires a minimum amount of trust. With very expensive items such as cars and jewelry, buyers are a little more skeptical and even distrusting. People buying real estate are in many cases, making the largest financial investment in their life. They need help from someone who possesses knowledge of real estate values and can guide them through the process of buying. They want to deal with professional people with integrity, which they can trust.  They buy through people they have established a relationship with.

There are many ways to create a first step to a relationship…

but they all begin with us giving of ourselves. We pass up opportunities every day of our life to begin a relationship with people. It’s either because we don’t want to have a relationship with them, or we fear possible failure in making that first move. We need to understand that the initial move toward a relationship beginning is a simple action. It might be as simple as opening a door for someone, or asking someone for directions to a particular place.

Relationships begin with an introduction.

[Read more…]

Just Tell It Like It Is

Disclose RECAD & Caveat Emptor in first conversation

The most important fact

an Alabama real estate agent can share with prospective buyers and sellers of real property in Alabama is that Alabama laws are different than most other states. Especially those states adjacent to Alabama because industry standards tend to spread across state lines. Alabama is a “Caveat Emptor” state. This simply means “buyer beware!”  To be more precise, Alabama is a modified Caveat Emptor state; because it exempts “New Homes” from Caveat Emptor. New homes are warranted by the builder while secondary (pre-existing) or used homes are not warranted by anyone. The purpose of “Caveat Emptor” is to notify the buyer that it is his responsibility to have the proper inspections performed on a home before they actually close on the sale. The buyer is not to rely on the seller to disclose all imperfections of a property, when making a decision whether to buy or not to buy.

Due to influence of markets in other states, some brokerage firms require their seller to complete a “Sellers Disclosure” form at the point of listing. [Read more…]