Many Realtors, if they are honest with themselves, can look back and determine a mistake that they made during the course of any given year, which ended up costing them and or their client dearly. Below are twelve mistakes, at least one of which you or a co-worker will make this year.
- Neglect to personally sign a listing contract that was returned to the seller.
- Neglect to return copies of the listing contract to the homeowner within twenty-four hours.
- Leave an appointment without the signatures of all those who own the property.
- Think that there is a bona fide listing contract in place although there is no list price written in.
- Neglect to research the property history at town hall before listing it.
- Neglect to alert co-brokes that there are seller exclusions to the listing.
- Arrange a meeting between buyer and seller before an offer is made or before all contingencies are removed.
- Ask your seller client to initial changes to an offer before they are initialed by the buyer.
- Allow more than five business days to pass from the day of the agreed upon offer to the building inspection.
- Allow numerous buyer visitations to the home during the period of time between the building inspection and signing of contracts.
- Agree to buyer occupancy before closing. (This is a mistake that you will only make once.)
- Show a home to a buyer without having their signature on a buyer agency agreement.
Any one of these oversights can be assumed without consequences. Then again, the consequences could be severe.
What common yet critical mistakes have you observed?
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