Real estate agents may have been practicing their profession and expertise in selling properties, such as lots and lands in Arkansas. But, no matter how long you had been in this industry, if you are not careful in managing and handling transactions, then you may still fail. The sad part here is that, failing may lead to losing a client’s interest in buying a particular property. And then, the worst part is when this failure brings you to court because of legal issues.
That is why if you are working as a realtor, it is very important for you to work under a real estate company, which is working hand in hand with a law firm. Through this, you will know that everything that the company is dealing with follows legal processes. Now, if you are handling lands and lots for sale, you have to make sure that it is legal. So that when you start making negotiations and agreements, you won’t be facing problems with the company, the seller and buyer.
Always remember that your job as a realtor needs to be legal, so that your clients will trust you. It is true that you are trying your best to win a client. But if you will do things in the wrong way, then you will lose not just your career, but your entire life as well. Let’s say that you are still new in the industry, have not worked long time or experienced enough yet as a real estate agent. It would then be great to know about the failures that you may face throughout your career to prevent it from happening.
Unrevealed property issues
It is very true that honesty is the best policy – a trait that every real estate agent must possess. Pretty sure you are aware that dishonesty may lead to losing clients as well as your reputation. When you are presenting a land or lot with the house or building, it is very important for you to revel every good and bad points of this property. Let’s say that it has a house that really looks perfect and that is actually what your clients can see, right?
But, if it has defects in electrical, wiring or piping systems, then you have to inform the client. Without being informed, the potential buyers may buy this property and sign all the legal documents together with the payment. I know that some agents may not also be aware about the defects, especially if the owner did not include it in the contract. But your clients will be thinking that you are very sure about every detail of the property. Therefore, they will blame you for not informing them about the defects.
When this happens, you and the real estate company you are working for may receive a negative feedback. Sometimes, this failure may not be your fault because you are ignorant. But the client may even sue you and the company for this. And then, …