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by ME&W | Jan 23, 2019 | Industry News
The standard residential agreements of sale mandate that buyers and sellers “will submit all disputes” arising from those agreements to mediation. Equally clear is the requirement that mediation “be concluded before any party to the dispute may initiate legal proceedings in any courtroom, with the exception of filing a summons if it is necessary to stop any statute of limitations from expiring.” While our courts will enforce the requirement that the parties mediate, not all... by ME&W | Jan 23, 2019 | Industry News
Brokers Need to be Aware of Potential Risk When Real Estate Salespeople Have Second Jobs Real estate salespersons often have second jobs. Should a broker care? All in unison: “it depends.” Issues relating to profitability and productivity of a salesperson aside, a broker has reason to be concerned when a salesperson is also employed in a job closely aligned to real estate. There can be unanticipated and negative consequences for the broker and the brokerage.... by ME&W | Jan 23, 2019 | Industry News
Real Estate Sales People Need to Understand Their Broker Agreement What is your agreement with your broker? A recurring question to the Hotline is “what is my broker’s obligation to pay me when I have pending transactions at the time I affiliate with a new broker?” There are many similar questions relating to fees after termination and whether a salesperson can take her clients and transactions to her new brokerage. The answer is always the... by ME&W | Jan 23, 2019 | Business Law, Industry News
The threat of a cyberattack is the sort of thing that keeps business owners up at night. Having an appropriate plan in place is critical to managing an organization’s response to a cyberattack. An organization will want to both manage risk before a security incident occurs, and mitigate risk afterward. After a cyberattack, an organization aims to limit financial and reputational damage. But also, an organization should manage operational risk by having clear procedures for... by ME&W | Jan 17, 2019 | Industry News
What happens when a For Sale By Owner (FSBO) freaks out at settlement when she learns for the first time that she is paying seller assist and that the proceeds are less than she anticipated? She goes hunting, that’s what. Who is the likely target? By definition, a FSBO is without an agent and we all know what a horrible idea that is! A listing agent would have reviewed the agreement and brought to the... by ME&W | Nov 19, 2018 | Goldsmith, James L, Industry News, Real Estate & Land Use
By James L. Goldsmith, Esquire The most dangerous clause in the Standard Agreement for the Sale of Real Estate (ASR) is found in our current Paragraph 32(B), Additional Terms. Here’s where agents can let loose with the most creative use of the pen imaginable! A problem is, that when these works of art fail for any reason, they are likely to penalize the author (agent) and his or her client. Most of you are familiar with the legal maxim “ambiguities are... « Older Entries