News & Information: Risk Management Tips

Risk Management Tip - In Writing

Wednesday, April 11, 2012  
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»Put EVERYTHING in writing
To put it plainly, "If it ain’t in writing, it probably ain’t enforceable." Some verbal agreements made during negotiations and throughout the process of a transaction are never put into writing. Although
REALTORS® typically manage the communication between the parties, REALTORS® walk a fine line if they commit to something via an e-mail on behalf of their sellers, but it is not agreed to by either of the parties in writing.

Risk Management Tips of the Week are provided by the ORRA Risk Management Subcommittee as a service to ORRA members. The tips are not a substitute for individual legal consultation. Tips should not be relied upon in specific situations without consulting a real estate attorney.

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