July 12th, 2020 at 7:16 pm
Answer: Yes! Although we now work in a high-tech world, keeping a conversation log is a time-honored practice. Whenever you have a verbal discussion with a client or anyone else concerning real estate activities, you should keep a record of the conversation in a conversation log. Some of the things verbally discussed are so important that you should even send the other person a written confirmation of your verbal conversation. But at least maintain a well-organized conversation log in your file detailing your verbal discussions. If a dispute later arises, your conversation log is a great risk management tool to help jog your memory as needed, prove what was discussed, and protect you against liability.
-Thank you to Brent Jorgensen (San Clemente Manager) for suggesting this week’s legal tip.
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