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Ambassador
2,364,510
Fred Griffin, on leave of absence from ActiveRain
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

You better hope and pray that your E&O or umbrella policy will cover it.

Jun 09, 2017 01:07 PM
Rainmaker
942,598
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

Costing you your commission or worse.

Jun 09, 2017 01:00 PM
Rainer
186,892
Raj Taj
RE/MAX - Lake Bluff, IL
Drive By Blessings!

Consequence of being made fun of...which in some cases may lead to death, an extreme, but rare consequence.

Jun 09, 2017 12:08 PM
Ambassador
3,983,773
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Duh, having to pay to correct it and make it right.

Jun 09, 2017 06:11 PM
Rainmaker
1,265,422
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Re-writing the contract, correcting your mistake.  Worst case it could cost you some $$ because why make the client pay for your mistake.

Jun 09, 2017 04:34 PM
Rainer
352,676
Teri Pacitto
Compass - Westlake Village, CA
Real Estate, Your Style...Your Home...My Specialty

Possible consequences will be less than the probable consequences.  

Don't practice this business unless you have a qualified mentor to oversee your contracts until you don't need to ask those questions.  

Jun 09, 2017 01:35 PM
Rainmaker
3,860,081
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

I'm with Fred Griffin !

Jun 09, 2017 06:38 PM
Rainmaker
746,020
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Lawsuit is a possibility; loss or reduction in commission.

Jun 09, 2017 01:02 PM
Rainmaker
3,130,175
Richard Weeks
Dallas, TX
REALTOR®, Broker

I can only speak for my state.  Our state rules state our cannon of professional call for fidelity, integrity and competency.  A math mistake on an important contract or document would probably fall under competency.  With that being said the consequence could be anything from reprimand, fine, requirement to take additional education, temp suspension of license, revoke of license, or a combination of all of the above.

Jun 09, 2017 12:39 PM
Rainmaker
1,020,876
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

It could make your pockets or your pocketbook be turned inside out relatively quickly.

Jun 09, 2017 07:21 PM
Rainer
116,885
Christine Kankowski North SD and Temecula
House Match Inc - Poway, CA
Excellent Sales and Property Management

If it is not caught until the transaction is over, there could be a legal battle to get the money back if too much was given to the other party due to your mistkae. 

Jun 09, 2017 07:22 PM
Rainmaker
3,983,763
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Costing you money

Jun 09, 2017 06:42 PM
Rainmaker
1,523,705
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

At the very least, the agent could have to pay the difference. The best thing to do is not make the mistake in the first place!

Jun 09, 2017 04:21 PM
Rainmaker
418,623
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

A big E & O claim.

Jun 09, 2017 04:01 PM
Rainmaker
1,036,474
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Often getting fired from the brokerage being incompetent. 

Jun 09, 2017 02:40 PM
Rainmaker
5,511,703
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

You could be responsible for the damages.

Jun 09, 2017 02:20 PM
Ambassador
1,656,851
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

He will have to correct it.

Jun 09, 2017 02:02 PM
Rainmaker
2,688,659
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

It depends what type of mistake and how big.  It could cost your commission, it could cost your client and it could be much much worse, esp if E&O insurance doesn't cover up.  Pending on the issue, I suppose it could be grounds for a lawsuit.

Jun 09, 2017 01:48 PM
Rainmaker
1,384,627
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Brian Burkhalter A possible consequence is the buyer could sue you for the math error and you could end up paying for the mistake.

Jun 09, 2017 01:39 PM
Rainmaker
5,126,198
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

and in MA, especially with my team, every client has an attorney.... we check and double check, but the final burden is on the attorney....the attorney trumps the agent!!!

Jun 09, 2017 12:32 PM
Rainmaker
4,580,218
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

I am speechless, you check and double check and then check again.  A

Jun 09, 2017 12:24 PM
Rainmaker
2,827,766
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Nothing comes to my mind.  Mistakes are given in life.  If we screw up we just need to unscrew and all will be well.  Tongue in cheek humor of course. When we screw up bad enough it could mean legal action is taken against us ... and E&O claim, which boils down to money and reputation - loss of both.

Jun 10, 2017 08:41 AM
Rainmaker
1,560,591
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

As Fred Griffin wrote

Jun 10, 2017 06:46 AM
Rainmaker
1,118,768
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

You will be held accountable for the mistake.

Jun 10, 2017 05:05 AM
Rainmaker
3,218,517
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

You may be forking over some serious money to mitigate the error.

Jun 10, 2017 04:22 AM
Ambassador
4,301,228
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Brian Burkhalter - most of the errors can be found out - however, it may cost you your own commission check...

Jun 09, 2017 11:28 PM
Ambassador
3,449,547
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I agree with Fred Griffin!

Jun 09, 2017 07:49 PM
Rainmaker
777,842
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

Troubles.  Mad client, loss of commission, lawesuit, contract falling through....What kind of math are you doing in the contract?  -Kasey

Jun 09, 2017 07:47 PM
Rainmaker
1,222,842
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

I use my Smart phone 

Jun 09, 2017 07:38 PM
Rainmaker
1,371,397
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

In reality, you do very little math with contracts and documents (except for your Commission Demand). The escrow company does the tough math stuff.  

Jun 09, 2017 05:45 PM
Rainmaker
242,261
Joseph Domino 480-390-6011
HomeSmart - Scottsdale, AZ
Real Estate Made Easy

You will forever wake up in the middle of the night to check and recheck.

Jun 09, 2017 03:20 PM
Ambassador
1,666,670
Alan May
Jameson Sotheby's International Realty - Evanston, IL
Helping you find your way home.

he, or she, could be "wrong"?  But at least he'd be in good pgysical shape.

Jun 09, 2017 01:31 PM
Rainmaker
781,828
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Some one has to fix it preferably during the oversight process.

If damage was the outcome, some one must make it right. Often that falls to an insurance company.

If irreversible damage is done. tell it to the judge.

If intentional damage was done, you could become clothed and fed by the taxpayer.

Jun 09, 2017 12:09 PM
Rainmaker
1,501,042
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

If you are not sure, ask your broker to check. In general, it is not that difficult. 

Jun 10, 2017 09:05 PM
Rainmaker
3,370,982
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Working for free or paying to work can be costly!

Jun 10, 2017 05:58 PM
Rainmaker
442,659
Dianne Goode
Raleigh Cary Realty - Raleigh, NC
Realtor/Broker

The most common consequence is having to write a check.

Jun 10, 2017 01:39 PM
Rainmaker
4,432,467
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Get an attorney asap

Jun 10, 2017 12:24 PM
Ambassador
1,614,090
Harry F. D'Elia
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

pretty hard to do

Jun 10, 2017 07:03 AM
Rainmaker
3,054,229
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Debbie Reynolds nailed this one!

Jun 10, 2017 06:05 AM
Rainmaker
3,431,605
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Emotionally and financially overdrawn.  

Jun 10, 2017 06:04 AM
Rainmaker
4,797,884
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

They may end up paying for the mistake out of their funds.

Jun 10, 2017 05:44 AM
Rainmaker
3,054,345
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

You hope the buyer and seller are reasonable. If not hope you have E and O. If it goes to court, the judge will want to see there was a meeting of the minds to agree on such price or amount, if not it may get thrown anyway

Jun 10, 2017 05:07 AM
Ambassador
4,377,273
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Firing, lawsuits.

Jun 09, 2017 09:26 PM
Rainmaker
3,247,015
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

lucky, we do not need to put in a payment anymore.  

Jun 09, 2017 07:41 PM