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July 19, 2012

3

Mastermind for July 18th. Explain That Form Or Go To Jail

by mark mclean

Happy Wednesday. It feels like it has been weeks since my last post. Blame it on our  Summer schedule. Well, just because we are meeting less doesn’t mean that we are working less. This week’s Mastermind was one of the liveliest we’ve had in a while.

There are two ways to be great at what you do; One is to practice the habits of successful people and the other is to NOT do what unsuccessful people do. You might say that these are kind of the same thing, but really they are not. Mastermind is the nearest thing we have to a mentoring program. Agents talk about different strategies for dealing with certain situations, and through discussions about other agent missteps we make mental notes and learn not to make the same mistakes. If we can learn from our own mistakes perhaps we can learn even more from the mistakes of others.

Today’s topic was aptly named “Count the Infractions”. An agent told the story of a deal that she pulled out of the fire. Unfortunately I will have to save the details of that story for another day as there will be a serious RECO complaint coming down the pipe against at least two other real estate brokerages.  I will tell you that we had two of Toronto’s finest in our offices taking notes.

The story did segue perfectly into a discussion about when agents need to complain to our governing bodies. There have been a number of high-profile stories in the media but the truth is we need to police our industry better and the only way to do that is to let RECO know that problems exist. Take, for example this little story. We had a walk-in yesterday looking for a high end rental. The agent on duty started off the interview by getting some background information from the person. He asked her  questions like how long she had you been looking, had she seen anything she liked and if she had offered on anything.etc, etc.  As it turned out she had put an offer in on a property through another agent. He asked if a BRA was signed. She asked what that was. He explained it in detail. Luckily she had a PDF of the offer on her phone and showed it to our agent. Sure enough there was a BRA as part of the file. She said that the agent did not explain it at all. He simply told her that it was just a standard form.  In effect she had signed the agreement that established a relationship with the agent for the next three months. Well you might ask yourself who signs something without reading it first? Fine. One point in the agent’s favour.  But you might also ask yourself what kind of agent doesn’t explain the paperwork they are asking a client to sign?  Two points to the tenant. It seems like a professional and ethical agent would take the time to walk a client through everything.   So the question for everyone to weigh in on is this; Is that agent guilty of an infraction under RECO? do you think he should be in front of the Registrar?  As always I would love to hear your comments.

Have a great week.

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3 Comments Post a comment
  1. Sep 21 2012

    Did she sign the “working with a realtor form?” … I never used to like having people sign it but lately I love it… Makes explaining agency relationships easier…

    Reply
    • Sep 21 2012

      It is a great form. Short and easy to use. Have you ever used TREB’s BRS?

      Reply
  2. Aug 26 2013

    The BRA is a fantastic opportunity to explain to the buyer the value we provide. When it is properly explained there is no reason why a buyer would NOT want to sign it, given all the positive things they get in exchange for their loyalty.

    Reply

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