Loyalty; A Fiduciary Responsibility

Real estate agents from across the country prompted me to write this article. If we step back in time 50-60 years, people

were loyal to each other. They were loyal to the people they did business with. The giving and receiving of loyalty was expected. It was almost like an unwritten law of conduct. In many cases, deals were made with a handshake. No written contract was required. What happened to it?

Then came prosperity

[Read more…]

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

 

 

 

 

                       

 

 

Farming—Step 2; Letter of Introduction

The importance of the letter of introduction The letter of introduction will require a great deal of thought and preparation. A simple letter stating your name and a little information about yourself, the company name and address and telling them you would appreciate the opportunity to be of service to them, just doesn’t cut it. This letter must grab their attention in the first couple sentences or they will trash it and you will have accomplished nothing. If your letter is well received it will make the next step much easier, however, if they perceive it as mass marketing effort, the next step automatically become much more difficult. The very appearance of this letter is so important that I suggest it should have a hand written address and return address. I believe it makes a difference when a fountain pen is used rather than a ball-point pen. We want it to be personal, and to leave an impression of great importance.

How long has it been since you used one?

Throughout this series of steps to successful farming, you will notice a close comparison and use of terminology related to row-crop farming; such as raising cotton, corn and etc.. After you have selected the farm area you want to concentrate your efforts in;  it’s now time to prepare the soil for planting. This is a very important step because it is your first contact with potential customers that own property in the subdivision or condominium complex in which you plan to earn your living. The second step is to prepare a letter of introduction of which you will mail to all owners in your farm area.

The importance of the letter of introduction

The letter of introduction will require a great deal of thought and preparation. A simple letter stating your name and a little information about yourself, the company name and address and telling them you would appreciate the opportunity to be of service to them, just doesn’t cut it. [Read more…]