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 …
Four Divisions of A Successful Career
A few days ago I was watching a training film by a prominent coach in the PGA circuit. He began breaking down the golf game into four major areas that good golfers need to focus on. As I listened to him strategically break down each area, I began to notice the same characteristics for a professional sales career. As a …
How Much Earnest Money Is Acceptable?
When it comes to selling real estate there is no standard, acceptable amount of earnest money to accompany an offer. First let’s examine what earnest money is. Earnest money is also referred to as “good faith” money. In other words, it is a payment made by the buyer at the time an offer to purchase is written that demonstrates to …
This Is CE Year—What’s That?
CE is an acronym for Continuing Education. You choose the term you want to use for it but don’t forget about it. To a Realtor® CE is of most importance. In Alabama, every licensee that has an active license is required to take a minimum of 15-hour CE during a two year period prior to renewing their real estate license. …
“Caveat Emptor” Buyer Beware
If you understand the title of this blog, chances are you are in a real estate related business. When buying real estate in Alabama the words “Caveat Emptor” is of utmost importance. Let’s take a look at the meaning of the term and how it affects Alabama real estate buyers. Caveat emptor (ˌkæviːɑːt ˈɛmptɔr) is Latin for “Let the buyer …
Managing Risk Saves Realtors
The practice of real estate is a very legalistic business and we take our jobs far too lightly. I think one of the reasons is because we haven’t had a transaction that ended up in litigation. In all my Risk Management CE classes, I use this illustration; “When you driving down the road and you’re speeding, then you look in …
Online Real Estate Courses by Alabama Real Estate Institute
Sign up for these Online Real Estate Classes now! Just click a box! For more information or help with the online registration, contact: James Anderson 251-979-2530 E-mail James Anderson Alabama Real Estate Institute, LLC PO Box 2115 416 E. Laurel Ave. Foley, Al. 36535 School #88010
Classroom vs. Online Comparison
Hardly a day goes by that I don’t get a phone call or an email concerning some type of Prelicense class. Alabama License Law requires anyone desiring to get license to sell real estate in Alabama, must take a 60-hour Sales Prelicense course. This course can be taken in a typical classroom setting or it may be taken via the …
TRUST / ESCROW ACCOUNTS
Being entrusted with monetary fund’s belonging to a consumer during the selling process of real estate is a huge responsibility that a broker shouldn’t take lightly. According to the Alabama License Law as found in Statute Section §34-27-36 (a) (8) a. which states, “Failing, within a reasonable time, to properly account for or remit money coming into his or her …
Who Am I Representing?
This article is equally interesting to the consumer that is buying or selling real estate as well as the real estate agent. Alabama License Law Section §34-27-36 (a) (7) states, “Acting for more than one party in a transaction without the knowledge and consent in writing of all parties for whom he or she acts.” There are several ways this …