Legal Updates for Real Estate Agents 2018

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Being a real estate professional comes with lots of study time and continuing education.  Some of it is on our own topics of choice while others are state required.  The most recent one I attended was Legal Updates I & II which is state required.

As boring as that topic may sound, I can assure you real estate is hardly ever boring.  There are always plenty of court cases to be reviewed and learned from, as well as tales of many real estate transactions gone haywire whether local or from around the state.  However, the instructor is usually the one who makes a class memorable – no matter the topic.

For this class, Ms. Holly Hightower definitely did just that!  She has the most infectious laugh of any instructor I have ever seen live.  She was engaging and very involved with the class to include time for participation from everyone.  It felt like a room of friends gathered together with a leader guiding the conversation instead of a teacher with all of her pupils.

Many of the legal updates presented at this class are repeating rules that are continually broken throughout the real estate industry, but there have also been new changes, mostly in part to contract and addendum changes to better serve our clients and their needs.  One new change (which was my biggest take away for my clients) was made to allow for a buyer to terminate a contract if the appraisal came back under certain preset requirements.

Addendum Concerning Right to Terminate Due to Lender's Appraisal

The new appraisal addendum (Addendum Concerning Right to Terminate Due to Lender’s Appraisal) will be a benefit for buyers that are purchasing with conventional financing – which is financing that is not FHA insured or VA guaranteed.  This will allow a buyer the right to terminate a contract if the appraisal doesn’t meet their stated requirements – which will help the buyer get the best bang for their buck.

With all that said, the best deal of all was getting to meet and learn alongside fellow agents from the area and meet a wonderful instructor that I will definitely be looking forward to attending other classes under in the future.  Thank you, Ms. Holly, for sharing your knowledge and experience!  🙂

PS  If you want to get a chance at using the new addendum mentioned above, please be sure to reach out and let’s work together at finding your new home!

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