Have you ever heard, “Don’t worry, it’s just paperwork” from your Real Estate Agent?

Recently some good friends of mine decided to buy a home.  Such good friends, in fact, that we mutually agreed to keep business and friendship apart so as to not create any problems on either end.  So they didn’t use my services.  Instead, they first used a “discount” agent affiliated with a large, local real estate brokerage, before finally landing on a “traditional” agent.

It ended up being a great opportunity for me as well to learn more about the process through their eyes.  One thing that they mentioned, in particular, caught my attention.  On more than one occasion, they expressed a degree of concern to their agent about the volume of documents that were apparently required.  Being prudent and sophisticated folks, they wondered what all of this “paperwork” really meant, why it was necessary, and how it related to their interests in the transaction.

The response?  “Don’t worry, it’s just paperwork.”  Well, it may be “paperwork,” but that doesn’t mean a buyer shouldn’t worry.  Those are legal documents that impact a buyer’s interests.  It is a disservice to the client to dismiss that concern without addressing it.  Everyone should at least have the opportunity to understand the process and the inherent risks.  If a buyer chooses to keep his head buried in the sand, so be it.  But it shouldn’t be an agent’s job to hold the buyer’s head down in the sand.  If the buyer wants to pull his head up, learn about his environment, and understand what is going on, an agent should encourage, not discourage, it.  If you don’t get that encouragement, think about getting another agent.

This principle underlies my new real estate firm, Quill Realty.  You’ll never, ever hear this expression from a Quill agent.  Instead, Quill will provide its clients with a lawyer, in part so that the client can ask questions about and really understand the “paperwork.”  Just another benefit of using Quill.

To say I am excited about the model would be a gross understatement… 🙂

 

This entry was posted in Industry Talk, Law and tagged , , by Craig Blackmon. Bookmark the permalink.

About Craig Blackmon

I am an attorney in Seattle, where I have practiced real estate law for over a decade. I own and operate my law firm, where I help people buy and sell homes without an agent (as well as handle other legal issues relating to owning a home). I am also the founder, designated broker, and managing broker of Added Equity Real Estate, a new model real estate firm. Added Equity is the first and only real estate firm to offer Single Broker Listings. That means Added Equity doesn't offer a buyer agent's commission - because it doesn't have to. Buyers find homes themselves these days. Sellers simply don't have to pay the buyer agent's commission. Real estate, like everything else, changes eventually.

7 thoughts on “Have you ever heard, “Don’t worry, it’s just paperwork” from your Real Estate Agent?

  1. Pingback: Agents need more than a niche and a farm to dominate a specific Market | EstateHoMes Blog

  2. I agree with what you said that “its not just paperworks, but those are legal documents”. Always keep in mind that before signing any documents, you must read and understand its contents first, better yet, have a lawyer with you to help you with it.

  3. This is a major problem in the real estate industry in general. Perhaps some of the issue stems with the fact that some of the agents themselves do not fully understand the implications and reasons behind all of the new forms, disclosures and signatures that are required. Education must first start at home and then when an agent is comfortable and knowledgeable, then it leads to their clients feeling the same way.

    • Thanks Simon. A quick follow up question: Assume the agent has exhaustively studied the applicable law and fully understands the terms of an MLS-written standard form contract and all other related documents. The client then asks the agent, “What’s the deal with all of this paperwork? What does it all mean, and should I be concerned?”

      How should the agent respond?

Leave a Reply