By Melissa Dittmann Tracey
QUICK SKIM
One in five real estate practitioners will be involved in a lawsuit during their career, says real estate broker Barbara Nichols in The No-Lawsuit Guide to Real Estate Transactions (McGraw-Hill, 2007). The effects can be just as damaging to your reputation as it is to your pocketbook. So how do you make sure you don’t end up in court? There are some obvious lines you know to never cross, but there are far more gray areas that can land you in trouble for nondisclosure, steering, or even false advertising. Nichols gives advice on navigating these potentially risky situations. Buy the Book
FROM THE BOOK: 5 WAYS YOU COULD END UP IN COURT
Real estate lawsuits often stem from what you say — or don’t say — to your client. Bottom line: You’re obligated to report any property information, both onsite and offsite, that could impact the property’s price or a buyer’s decision to buy. Nichols outlines these common legal mishaps for practitioners:
1. Not disclosing property stigmas. Prospective buyers need to be told if a anything in a home’s past could potentially scare off future buyers or hurt the property’s resale value. What counts as a stigma? It could be a murder that once occurred in the home, a rumored haunting, or a history of foundation problems (even if the seller spent thousands of dollars fixing the foundation, future buyers could be hesitant to make an offer). If you don’t disclose any potential stigmas, you could be held liable when the clients find out. So do your research and be sure you know the home’s history. Continue reading »
Here are today’s top sellers in real estate sales, according to Amazon.com:
1. FLIP: How to Find, Fix, and Sell Houses for Profit, By Rick Villani, Clay Davis, and Gary Keller
2. Success as a Real Estate Agent for Dummies, By Dirk Zeller
3. The Complete Guide to Buying and Selling Apartment Buildings, By Steve Berges
4. 1,200 Great Sales Tips for Real Estate Professionals, Edited by Mariwyn Evans and Christina Hoffman Spira
5. Confessions of a Real Estate Entrepreneur: What it Takes to Win in High-Stakes Commercial Real Estate, By James A. Randel and Jim Randel
6. Real Estate License Exams for Dummies, By Drei John A. Yoegel
7. How to Become a Power Agent in Real Estate: A Top Industry Trainer Explains How to Double Your Income in 12 Months, By Darryl Davis
8. How to Succeed in Commercial Real Estate, By John L. Bowman
9. Secrets of a Millionaire Landlord, By Robert Shemin
10. How to Sell Your Home in 5 Days: Second Edition, By Bill G. Effros
By Melissa Dittmann Tracey
QUICK SKIM
Ever struggle to remember a past client’s name or the precise details of your listings? For anyone who’s had a memory blip, there’s good news — you can train your brain to recall even the most miniscule details, says author Gini Graham Scott. In 30 Days to a More Powerful Memory (AMACOM, 2007), Scott reveals interesting new findings from brain researchers and psychologists. After all, knowing more about how your brain works helps you squeeze more information in (and out) of it. The best challenge: Trying to recall her many clever systems after reading the 266-page book. Buy the Book
FROM THE BOOK: 5 WAYS TO GET MORE FROM YOUR MEMORY
Before you wake up tomorrow, you’ll have forgotten about 70 percent of what you learned today, Scott says. Some of that information is trivial, no doubt, but other information could be important for your business or customer relationships. To retain more of what you learn, Scott suggests these tips:
1. Make it all about you. If the information seems important to you personally, you’re more likely to remember it — and to remember in greater detail. This method, called “self-referential,” encourages you to be selfish: Will this information increase your profits, or will this person help bring you more referrals? Is there any association, image, or past experience to which you can relate this information? Also, try to spin the information in a positive way; that increases the odds you’ll remember it. Continue reading »
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