The importance of understanding Real Estate forms

Oct. 29th 2010

There are several forms that are used in the real estate industry. It is the agent’s fiduciary duty to have a thorough understanding for the process of filing out these forms, as well as which form to use at what time.

Each form has a purpose not only for the buyer and seller, but also for the agent. These forms can be lengthy and use jargon that may not be easily understood by the public. The agent has the responsibility of being able to explain these forms and contracts to the clients. If the agent does not have a good understanding, he/she can mislead the client and find their license in jeopardy.

As the economy changes, so do the laws. With new laws, brings new or revised forms. It is imperative that a good agent stays up to date on these changes in order to minimize their risk of suits and disciplinary action.

 

Other Aricles:

Residential Real Estate or Commercial Real Estate, which is right for you?

Trust Funds

Fair Housing For All

Ethics: Use in the Industry.

An agents responsibility to disclose.

Consumer Financial Protection Bureau

The Benefits of Online Real Estate Schools

Continuing Education for the California Real Estate Agent

Choosing a California Real Estate Broker

Selling strategies to get a home sold