October 27th, 2011 at 12:03 am
First, the DRE requires that documents be turned in as soon as practical after they are executed. That way, your manager or file reviewer can review them as required by law. Next, by allowing us to conduct that review, we can spot red flags and solve problems that we see but you may not even know exist. Your managers are experts on your transactions and have seen and resolved problems you have never dealt with before. By turning in your documents right away, you give them the chance to help you, let your deals close and keep your client happy.
Finally, because our agents do so much business, it is not uncommon for us to sell the same property multiple times. Of course, when we do that, we are deemed to have knowledge of everything that we knew from the earlier deal. However, because of the number of transactions we have, it takes about 2 weeks for us to notify you of a prior transaction. Obviously, if you don’t turn in your documents right away, that delay is even greater and you won’t learn what additional disclosures are necessary until it is too late. We know that the last thing you want to do is make new disclosures in the week before closing. So please, don’t make that necessary. Instead, turn in your documents early and let us help get you all the needed disclosures up front. By doing so, we protect both you and your clients from future problems, and ensure that all disclosures are reviewed at the same time. Your clients are obviously more likely to accept them when they are not made at the last minute.
Thanks, and let us know if you have any questions.
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