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Conflicts When Listing Realtor Brings a Buyer
When A Close Relative Or Friend Wants To Buy Your Listed Property By James L. Goldsmith, Esquire Real estate agents deal with conflicts of interest on a regular basis. Most of you are attuned to spotting and dealing with the conflicts that may arise out of dual agency when you are representing both the buyer and seller in a transaction. But there is also a significant conflict where the listing agent brings a buyer to...
Using a Pre-Settlement Walkthrough Report is Recommended
By James L. Goldsmith, Esquire A recent spat between brokers brings focus to this standard form. There is a broker who, like others, requires that all settled transactions undergo a review before the salesperson’s commission is paid. The review assures that management is supervising its affiliates and that glaring errors can be rectified with the appropriate education or other measures. At issue is the broker’s demand that the closed file include a copy of the...
Realtors Should Guard Against Discriminatory Practices
Study reveals housing discrimination by real estate licensees By: James L. Goldsmith, Esquire An article that appeared in the New York Times in November 2019 cited study results showing housing discrimination by real estate licensees. Investigators posing as white buyers received different treatment than buyers of color and of other minority classifications. Among the allegations was steering. Licensees directed buyers to properties that, in the opinions of the licensees, would be more welcoming of the...
Addressing Housing Discrimination With Your Real Estate Clients
By: James L. Goldsmith, Esquire While you are committed to uphold the principals of fair housing, you may find the occasional client or customer who hasn’t accepted your pledge. They may ask you to turn your gaze as they engage in unlawful and furtive discrimination; they may ask you to promote their discriminatory practice; they may suggest that your duty to them outweighs your obligation to uphold the law and your Realtor® commit to promote...
Residential Property Claims – Seller Fails To Disclose Material Defects
Advice for the buyer’s agent By: James L. Goldsmith, Esquire I have been saying it for nearly 40 years and it remains true: most law suits involving the sale of residential real property claim that the seller failed to disclose material defects. The seller is usually not the only defendant. The listing and selling licensees and the home inspector are frequently sued as well. The path to suit follows a familiar pattern. The buyer finds...
Timely Ordering Of Real Estate Title Report Is A Requirement
By: James L. Goldsmith, Esquire The last major change to the Standard Agreement of Sale for Real Estate (ASR) added the requirement that the buyer order a title report within so many days of execution of the agreement. The reaction to this change was all over the place, but most folks were calm. So the question is, nearly a year later, how is this working? I am advised that in many transactions reports are not...
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