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Rainmaker
780,753
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

The attorneys with whom I have consulted advise if you are advising clients regarding CONSEQUENCES, you are practicing law.

However, discussing the terms contained in the contract is not practicing law.

Exercising the previsions in the contract is NOT wriggling.

Choosing to exercise perceived provisions in the 'gray zone' is a formula for disaster.

Jul 05, 2015 10:26 PM
Ambassador
1,505,677
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Yes.  I have the clients write up their own reason for termination.  

Jul 05, 2015 10:19 PM
Rainmaker
941,045
Thomas J. Nelson, Realtor e-Pro, CRS, RCS-D, Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

I discuss what the Residential Purchase Agreement allows and disallows, under it's terms & conditions and what contingencies we have remaining to exercise our right to cancel. Outside of repair or appraisal differences that couldn't be negotiated, I've very rarely had to cancel a contract.

I won't do what one agent did to my mom (broker) once: the agent told her she had to cancel the contract because her client was in a car accident and killed. We (I was her assistant back then) all felt horrible, we all empathized. The story spread like wild fire through our office & soon the local Realtors in other offices knew too (pre-social media 1990's). So, when that same buyer, miraculously rose from the dead and tried to buy a house 3 weeks later 15 miles south (thinking we'd never be the wiser), well, you can imagine the anger and the grapevine. That Realtor was busted by the listing agent, familiar with the story and was taken before the board and stripped of her license and the buyer was sued by my mom's client for fraudulently breaching contract. No liquidated damages back then. It pays to be honest: Golden Rule considered, yeah?

Jul 05, 2015 10:47 PM
Rainmaker
5,119,392
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

we are crossing the line when we play attorney, no matter what the situation.... that's what attorneys are for and we make sure every client of ours has one by their side from step one.

Jul 05, 2015 11:28 PM
Rainmaker
846,015
Marco Giancola
Beachfront Realty - Miami Beach, FL
Realtor (305)608-1922, Miami Beach Florida

I would not go there. It is an easy way to get yourself burned.

Jul 05, 2015 10:42 PM
Rainmaker
5,502,856
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

No. Explaining contract terms is part of your professional service.

Jul 05, 2015 10:04 PM
Rainmaker
3,211,984
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Our contracts in NC are set up in such a way that a client can walk away with no penalty outside of losing their due diligence fee during the due diligence period and without even having to tell a seller why they are cancelling the contract. This eliminates the need to advise them on how to "wriggle out."

Jul 05, 2015 09:23 PM
Rainmaker
698,927
Chris and Dick Dovorany
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty

No not at all.  Thats why they hire us because we are professionals in our field and we know the ins and outs of our specific contracts.

Jul 05, 2015 11:04 PM
Rainmaker
3,301,872
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

  Are you a nuyer's agent with a legitimate reason for "wriggle and wiggle" or you have a LIbra buyer who can't make up their mind ?

Jul 05, 2015 10:28 PM
Rainmaker
3,127,715
Richard Weeks
Dallas, TX
REALTOR®, Broker

The contract is what it is.  There are several paragraphs which allow a party to terminate the contract.  I would be more inclined to advise a client when their wiggle move might come back to bite them.  At that time I would point out what the contract says and advise to see a real estate attorney before they proceed.

Jul 05, 2015 10:08 PM
Rainmaker
1,273,279
Raymond E. Camp
Howard Hanna Real Estate Services - Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

Yes unless you are also an attorney!

Jul 05, 2015 10:06 PM
Rainmaker
2,995,032
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Good morning Randy.  A good question.  IMHO you owe a duty to your client.  If you know the deal is a bad one for them you should say so.  On the other hand they are adults but in the end you'll pay the price if they are not happy.  Word of mouth travels faster than any social media invented.

Jul 05, 2015 09:48 PM
Rainmaker
120,476
Randy Hilman, Associate Broker
Randy Hilman Homes - Moultonborough, NH
What Matters to You, Means Everything to Me!

Hi Nina Hollander .  Ours have similar builtin escape clauses, but our P&S has recently changed to give buyers the opportunity to go forward with a purchase if the seller refuses to make requested repairs as a result of inspections. Prior to the changes, sellers could unilaterally declare contracts null and void if buyers asked for concessions.  One agent in our state advised a seller who had received a second offer on her home to quit the first contract on the grounds that she didn't want to make repairs.  The transaction was reversed by the court in settlement pleadings and the sale awarded to the original buyer.  The agent was criticized for essentially practicing law.  Do you agree with that reasoning?

Jul 05, 2015 09:46 PM
Rainmaker
175,314
Spirit Messingham
Tierra Antigua Realty - Tucson, AZ
Third Generation Full-Time Realtor® 520 471-6900

I represent clients, if they are honest with me, there is no "wiggling" out of contracts, there are conditions and provisions which were agreed to, it is my job and duty to help those clients I represent manage those waters.

Jul 12, 2015 04:18 AM
Rainer
198,607
Sharon Altier, SFR
Lawton Realty Group, Inc. - Elmhurst, IL
Your Real Estate Partner

If a client wants "out" and it is beyond terms when one can walk (a/i period), then I always refer them to their attorney.  There is too much liability to do otherwise. 

Jul 06, 2015 03:03 AM
Rainmaker
1,559,170
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Yes! That is in my opinion, Practicing Law without a license.

Jul 05, 2015 11:43 PM