Pennsylvania Real Estate Continuing Education Courses - PENNSYLVANIA School License: RU003266
PA 3.0 hours Risk Awareness Course Syllabus
3.0 Elective Hours
A good risk management practice is documentation review. Real estate professionals should carefully review all documents generated in the course of the transaction, or in the course of listing the property, looking for problems. The problems must be addressed and disclosed. Are the documents of the agreement understandable? Agents often encounter transactions with documents that do not make it clear what the parties were trying to accomplish. It is often a mistake to write up a transaction right after showing a house because it doesn't give the broker time to clearly think about what she is putting down on paper.
Jurisdictions have different laws regarding real estate professionals writing clauses, blanks, terms, and conditions. Other states may require that real estate professionals use a checklist or some similar form. State laws should provide some guidance about how much an agent can write.
Management file review is a good practice whether required by law or not. This doesn't mean just looking for the blanks and signing them; it means thoroughly reviewing them. Two sets of eyes are always better than one. Watch your spelling and grammar. You can change the intent of a sentence with a comma. A good risk management policy if you write a transaction is to have another qualified associate review and sign it.