Reduce Your Risk—Tip #2
Tip 2 of 12 Risk Reduction Techniques for your daily real estate practice
Controlling your Errors & Omissions should be the mission of all real estate professionals. That’s why we’ve compiled a list of 12 risk reduction techniques you can use to minimize your legal liability and maximize your earning potential.
TIP 2: Conduct a visual inspection of the property and investigate “red flags.”
Before showing the home, conduct a visual inspection of the property and investigate any “red flags.” Ceiling stains, a retaining wall that is leaning, floors that aren’t level, strange musty odors, excessive black mold that is visible to the eye, cracks in the foundation, and water lines in the basement all scream that there may be a more serious problem. Never interpret property condition, but suggest that the buyer or seller have these items checked out carefully before making or accepting an offer.
Please let us know what you think about our first two tips; we have 10 more to post, so stay tuned! And send us your real estate horror stories involving obvious “red flags”—we want to hear from you!
