Tips for Brokers

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How to Breach a Listing Agreement Without Even Trying

listing_agreement Oliver Frascona, a real estate attorney in Boulder, Colo., and author of The Paper Trail (Real Estate Law Books, Inc.), shares these tips for avoiding contract breaches.

Q: What are the main forms of contract breach in real estate?

Frascona: In real estate, contract breaches can occur in the property listing agreement between the broker and the seller or in the sales contract between the buyer and the seller.

Controlling Transaction Risks

risk Agency is a relationship between a principal (seller or buyer) and an agent (broker) who acts on behalf of the principal in dealing with a third party. Most agency relationships in real estate are created by written agreement, but a formal document is not required in all states. Agency relationships also can be created by the words, actions, or deeds of the parties, and don't require any form of compensation. The agency relationships created between the broker and consumers typically extend to the broker’s sales associates.

Communicating Like a Leader

Even managers displaying every other quality needed to become a great leader will have a hard time succeeding if they can’t communicate effectively.

7 Sure-Fire Ways to Become a Better Communicator

Managers largely spend their time communicating with others--selling ideas, motivating, persuading, influencing, and giving feedback. So improving your communication skills is critical to successful leadership. Learn to:

1. Establish rapport. Communication is easier when people are comfortable with one another. Work continuously at being honest and friendly, so that your listener doesn’t tune you out. And remember, rapport isn’t built in a day.

10 Service Standards to Consider

serviceGuaranteeLge Establishing service standards, or operating benchmarks, for your company is an effective way to control risks because they let clients know up front what to expect from the brokerage relationship. An acceptable service standard complies with regulations, statutes, codes of ethics, and local practices. It enhances a company’s reputation and the professionalism of its sales associates. Although the exact benchmarks for your company may vary from those of other brokerages, reflecting your own business approach and the particular needs of your client base, establishing standards and training your associates to carry them out will both reduce your risk and enhance your business.

Safety TIPS for BROKERS....

What you can do about SAFETY.

Real estate companies are often in the best position to help keep practitioners out of harm’s way. Try to keep safety first in the minds of your salespeople.

These techniques are simple recommendations gathered from dozens of AOR, police and other sources, which you might want to consider to help you make safety a prime concern for your employees and practitioners.

Create an office safety plan.

Require everyone in your firm to know and understand the safety policies and procedures. Put safety policies in writing and make sure everyone follows them. Make it a top priority. Appoint a “safety coordinator” to oversee, maintain and enforce it.

AMPI - Rosarito