While common sense will not keep you out of all disputes it can greatly lower your risk.  Here are some common sense things that you, as a Listing Agent, can do to lower your risk:

• Ask at the time of the listing presentation if the property is currently or has been previously listed.  If the answer is yes, then use the “w” questions – with whom, and when?  Then follow-up with, “when does the current listing expire”.
• Check previously listed properties for a “broker listing protection clause”.  If so, find out the prospects names’, and if the clause terminates when the property is re-listed.
• Make sure all of your listings in the MLS are correct.
• If your listing is not in MLS, make sure all potential cooperating Agents know what compensation you are offering.
• Don’t forget to let cooperating Agents know if you have changed the compensation to be offered as quickly as possible. Remember the Golden Rule, “Do unto others as you would have done unto you”.
• Make sure assistants who provide information about your listings are properly trained and informed.
• Always present offers and counter offers promptly.
• Allow cooperating Agents to be present when you make an offer if they so desire.
• Have a sign-in sheet for buyers and cooperating Agents at your open houses.
• If a buyer comes to an open house, ask them “are you represented?” or “are you working with another REALTOR?”
• If you have a dispute, consider mediation. Mediation is a win/win situation.
• Return your phone calls promptly.
• Showing the property to a buyer at your open house does not, in and of itself, make you the procuring cause of the sale.
• Protect yourself. Keep precise and accurate written records, notes and documentations including appointments, showings, meetings, and conversations.
• After your client accepts an offer, keep all parties informed as to the status of the closing.

Don’t forget to look for the continuation of this article regarding “common sense” Tips for the Buyers’ Agent coming up in the next issue.