Tuesday, December 11, 2007

The Road to Real Estate Contract Wisdom for New Agents?

I have spent countless hours on the mastery of Real Estate's most important documents. In my initial real estate classes, they handed me a book on them, a huge thick book full of attorney speak. Learn it, own it, love it, it is the most vital part of your career in real estate. Become one with the contracts, don't fear the contracts, blah blah blah... Even after passing all the State & National exams with flying colors, I still kept taking classes on the contracts. I figured that I could never have enough information.

My clients depend on me to keep them safe, protected, out of court----it is all on my shoulders to get cozy with this document. I also strive to understand it, so that I can explain it in normal people language. My goal is that the paperwork on my clients largest investment makes perfect sense to them or at least sense enough that they don't feel like they are jumping into a dark hole alone.

So to make sure that I am doing my due diligence, I have always had Jerry, my partner, help me put it together(dot the i's and cross the T's for me). Today, I ventured into the hole by myself to see how I would do. I drew it up, went through it with my buyer and then before I faxed it, I brought it into the "Contract Goddess" at my office. I felt like I was turning in a paper for a advanced placement class--when I was really just an average student. She struck through lines, put checks in boxes, added verbiage and when it was all over----my contract was a whole new contract. (for future reference, I will write it up, have the contract goddess look it over-THEN have my client sign it). Needless to say my client was great about it all! I will keep this contract forever, maybe even frame it. A speaker that I have heard in the past calls it failing forward!

It can be hard to take the first step into the unknown, heck, it was hard for me to write this----throw out to the universe that I am still learning. I feel like there is power in being real and honest with yourself, also remember that you are not the first and will never be the last person that struggles with the infamous contracts.

So what is "the road to wisdom?--- Well, it's plain
and simple to express:
Err
and err
and err again
but less
and less
and less"

Piet Hein, The Road to Wisdom

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