UT 3.0 hours Risk Awareness - Course Syllabus
3.0 Core Hours
One of the biggest complaints to licensing authorities is the failure to follow up. The more communication there is between broker and client, the better off the broker will be.
Contingencies should be removed from agreements in writing. In most states that have escrow, generally, the instructions to escrow will state that if there were contingencies to the transaction and they were not removed at the time of closing or settlement, they are then removed whether they were completed. If an agent failed to remove them in writing, they are going to be removed anyway. If an agent failed to make sure that the contingency was taken care of, she might have violated a duty and be liable for negligence. When those things get taken care of, it should be done in writing.
Follow up and communicate are key in avoiding claims of negligence. An agent with a property in escrow or with the closing attorney should be talking to the client at least once a week, if not more. If the client calls the agent, it's too late. The agent should make sure that she is the one initiating the communication. This is also a way to get listings extended.