The longer I am in this business I find nothing really changes.  The same mistakes that we were making 25 years ago are the same mistakes we are making today.  

As a broker I am still seeing buyers’ agents trying to re-negotiate the commission portion of the listing contract in their purchase agreement.  Leaving important areas of the contract blank.  Wanting signatures on both sides of their agency agreement.  Disclosing information that should be kept only between their client and themselves.

We have had some break throughs in real estate statute over the years as well.  At one point we were all sub-agents to the seller if both the buyer and seller were doing a transaction within the same brokerage.  Many disclosure forms were created because of the lack thereof.  Brokers thought that a “fill in the blanks” purchase agreement would lessen the risk of litigation because, so many agents were leaving things out of that document.  But with all the corrections agents still find a way to hit the potholes that are in real estate.

Risk is the biggest area an agent has in their business.  Granted not all risk can be avoided.  Clients do sue for frivolous reasons and be it legitimate or not, it costs the agent and broker time and money away from their business.

Your business is your livelihood and should be treated as thus.  Your broker is your first defense and should be consulted in any incident that you are the least bit uncomfortable with.  When seeking advice, agents tend to look for “their” answer rather than the one that is most correct.  Trying to fix a problem after the fact is always the most difficult. Trying to make a statute subjective and interpreting the meaning is not a wise thing to do.

Trying to make a statute subjective and interpreting the meaning is not a wise thing to do.

You have many opportunities in 2018 to lesser the possibility of being involved in a risk situation.  CE classes are very informative if you take the time to take classes that are in an area that you are lacking a good understanding in.  The mandatory subjects that the Nevada Real Estate Division requires you to take is there for a reason.  Unfortunately, many agents wait until the 11th hour to get their required CE credits and end up taking anything that they can take to fill those requirements. 

A broker once told me that if he/she has a real estate license, he/she can do any kind of real estate transaction.  Maybe once true but with the fact that so many agents were working outside their area of expertise, you now must have a separate license to do property management and business brokerage transactions.  There has been talk of a separate commercial license.  This should tell you that these areas are specialized and require more in-depth knowledge than the average agent has.

You have a choice to educate yourself in your business profession to be the and not just do the minimum required.  Take the time in 2018 and look to see what is available to learn that might take your business to the next level.  For me, it is becoming more proficient in real estate technology.  How about you?