Monday, October 21, 2019 / by Vanessa Saunders
Don't make this mistake when hiring a commercial REALTOR®.
When hiring a REALTOR®, be sure he or she is skilled in the type of property transaction you intend to make. The truth is, different real estate dealings come with different regulations, and if your agent isn't an expert in the type of transaction you're conducting, it could come back to bite you not only during the transaction buy down the road as well.
Here's a real-world scenario as related to us by Pearl Insurance, our risk management specialists, in which an agent well-versed in residential sales decided to venture into commercial sales and ended up being sued.
THE SITUATION
A real estate agent with a successful background in residential sales received a request from a light manufacturer to help locate a new business space to rent. The agent had been selling residential homes for over 30 years, and he welcomed the opportunity to finally put his commercial real estate knowledge to use.
THE PROBLEM
The agent was considered an expert in residential transactions ...
Here's a real-world scenario as related to us by Pearl Insurance, our risk management specialists, in which an agent well-versed in residential sales decided to venture into commercial sales and ended up being sued.
THE SITUATION
A real estate agent with a successful background in residential sales received a request from a light manufacturer to help locate a new business space to rent. The agent had been selling residential homes for over 30 years, and he welcomed the opportunity to finally put his commercial real estate knowledge to use.
THE PROBLEM
The agent was considered an expert in residential transactions ...
