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

 

 

 

 

                       

 

 

Insulating Against A Law Suit

Generally most of my posts are adaptable to sales in any industry. Today I am specifically addressing real estate sales. If someone practices real estate very long, they will face legal issues; especially if they sell a lot of real estate. There is a very simple explanation for it too. It’s impossible to please everyone, and especially, if you represent both the buyer and the seller. In this type situation the buyer feels like the seller took advantage of them, while the seller feels like the buyer took advantage of them. As a Realtor® who is wedged between both parties thinking the agent showed partiality to the other party in the transaction. To complicate matters worse, in a typical real estate sales transaction there are numerous entities that have specific requirements and guidelines that must be followed.

Managing Your Risks

Generally most of my posts are adaptable to sales in any industry. Today I am specifically addressing real estate sales. If someone practices real estate very long, they will face legal issues; especially if they sell a lot of real estate. There is a very simple explanation for it too. It’s impossible to please everyone, and especially, if you represent both the buyer and the seller. In this type situation the buyer feels like the seller took advantage of them, while the seller feels like the buyer took advantage of them. As a Realtor® who is wedged between both parties thinking the agent showed partiality to the other party in the transaction. To complicate matters worse, in a typical real estate sales transaction there are numerous entities that have specific requirements and guidelines that must be followed.

In most real estate sale transactions there are two separate agencies involved. 

More times than not one agency will have the listing and represent the seller while the other agency will represent the buyer. [Read more…]

First Step to Success is Focus

How's Your Focus?

How’s Your Focus?

I suppose everyone has dreams and aspirations of having a very successful career. Personally I have earned many times more income in my dreams than I have in reality. I have always been one to build air castles. I happen to believe that everything is initiated in a dream. I also believe that when you stop dreaming, you cease to aspire for a better life and begin descending to normalcy. Building air castles is positive stimuli which are a requirement for increasing one’s mental capacity. I’ve always heard when you stop dreaming, you begin dying. Focus on that for a moment and you’ll probably agree.

One of the problems many people have is they don’t know how to capitalize on their dreams by making it a primary goal for them to accomplish in the near future. Back in the 70’s I was an avid deer hunter and spent much of my leisure time in the woods. The only way of getting my tree-stand up in a tree was to bear-hug  a tree, plant my feet so that the teeth on my stand would cut into the tree bark, stand up and grab another bear-hug. By repeating this process I could slowly reach twenty feet high in a tree. That was hard enough but getting down proved to be very damaging to my body on several occasions. I kept dreaming of how to make this process easier and safer. A friend of mine and I finally mastered a type of scissor jack tree stand, hand climber apparatus that we made from old metal bed frames. It actually looked good and worked very well. Everyone that saw it wanted one. We made a few for close friends but never attempted to market them. It wasn’t too long afterwards that a major hunting supply company began selling a tree climber using the same method as we had used. Did we actually invent the tree climber? I don’t know and it really doesn’t matter. We didn’t do anything with the idea and someone else put it into action. A dream is only a mental thought until it is converted into a tangible thing. [Read more…]