Agent Archives - Lenson Realty, Inc.

UPDATE April 14, 2020

April 14, 2020
Be Sure To Read The Entire UPDATE. Items Are In No Particular Order.

Tri-County Title & Escrow, Inc.: Need A Quality Bi-Lingual Closing Agent?
Call LRI’s Attorney Susan Lopez (561) 362-9820. Competitive rates and superior service.
4400 North Federal Hwy., Suite 42
Boca Raton, FL 33431

M A K I N G M O R E M O N E Y

Refer Agents To LRI And Earn $1,000 Per Referral
This Is How We Get Most Of Our Agents
Click HERE for Detail.

* REMINDER*
New “Mandated” Form

“Waterfront Property With Ocean Access”

Please use this form with Waterfront Properties With Ocean Access.

If you are selling a Waterfront Property With Ocean Access, regardless of which side of the transaction you are on, use this form. This will protect all parties to the transaction. The seller, buyer, you, me, and LRI.

The new form is already on our LRI website. A copy is attached and if the attached copy is stripped out by your ISP or email client, you can click HERE to see a copy or copy and paste this link http://lensonrealtyco.wpengine.com/download/waterfront-property-with-ocean-access-3/.

Again, please start to use it right away. We are monitoring all waterfront proeprties with ocean access to make sure this form is used.

DropBox

You do not need an account with or to join DropBox to download our forms.

Some of our forms are on DropBox. DropBox has become more and more aggressive trying to get you to sign up with them. Just look in the upper right (or other) part of their pages as you try to download forms and see where it will allow you to download without signing up with them.

MLS & Office Phone Number

According to the RAPB & GFLR, agents are not returning phone calls. Therefore the MLS automatically is putting in the real estate company’s phone number where it says “Office” in the MLS and has removed your “Office” phone number. Your agent contact number is remaining. Only where it says “Office” it has reverted back to the company phone number.
Corporate Office Only

As a reminder, for the Corporate Lenson Realty, Inc. office aka Boca Raton office only (not our Orlando office) the suite number changed from 208 to 42.

Purchase & Sale Contracts Gone Wild

There are a flood of Purchase & Sale Contracts hitting the market in every possible language you can think of. Including braille and audiobook styles.

The ONLY Purchase & Sale Contracts we use with LRI are PRINTED and PRINTED in ENGLISH ONLY. This is Florida/USA and the primary language here is ENGLISH. Parties can get a translator if need be. Why? If there is an issue and I am called in (as I often am) then the language needs to be in English so I can read it.
This is not discrimination any more than the state of Florida declaring and allowing the primary language to be English.

Escrow Money & Wiring Instructions

Escrow money needs to be held ONLY by the company doing the closing. Not a real estate company. Rental money is not to be escrowed. Wiring instructions are NEVER put in an email. Contact the Escrow Agent directly for wiring instructions.

NEW Forms

There are NEW FAR Purchase & Sale Contracts and NEW FARBAR Purchase & Sale Contracts and their corresponding addenda.

The NEW FAR versions is CRSP16. The NEW FARBAR version is June 19, 2019.
P&S Contracts will soon be available only on Form Simplicity and not on the LRI website.
Be sure to use the FAR P&S Contract with FAR Addenda. Be sure to use FARBAR P&S Contract with FARBAR Addenda. Do not mix a FAR P&S Contract with a FARBAR Addenda. And vice versa.
If you need a P&S Contract or Addenda, go to Form Simplicity and download it from there. Do not stock pile forms since forms have gone through a lot of updating lately. Using old forms is considered negligence.

Listing Packets and Buyer Packets will remain on the LRI website. They are also updated regularly as the forms referenced above are updated, so be sure not to stock pile these packets. Download them NEW, FRESH packets each time you need one.

COVID-19 Addendum

The NEW COVID-19 Addendum was sent out to everyone recently. You may also find it in Form Simplicity.

If you would like a short video on the COVID-19 Addendum, click HERE. This link works as of the time this UPDATE was sent out to everyone.

Force Majeure

After conflicting information, it has been determined Force Majeure which is in ALL of the Purchase & Sales Contracts we use is NOT applicable to the Coronavirus. It is not viewed as an Act of G-d like a hurricane or earth quake would be.

In all cases I have seen so far, nothing changes since all parties either closed like normal or extended the contract dates. See the above COVID-19 Addendum if need be.

Photos

As you all likely know, I tend not to repeat past news but it appears it is necessary.

You Must Take Your Own Photos or Have A Professional Take Them For You.
Photos Are Proprietary Property
You Can’t Just Use Anyone’s Photos

If the Association President gives you a “stock” photo of the community, can you use it? NO! Those photos are OFF limits.

Google images are OFF limits.

Shutter Stock images are OFF limits.

Getty Images are OFF limits.

Facebook images are OFF limits.
And a bazillion other places are OFF limits.

If the homeowner gives you a photo, it is OFF limits.

You can only use a photo (image) if 1) YOU took the photo or 2) the person who took the photo has given you WRITTEN permission to use the photo. <— The next question is, did the person who gave you written permission have 100% rights to the photo allowing them to give you permission to use the photo?

We lost a lawsuit due to the above. If you have any questions, call the Help Line (561) 756-7002.

The Mark Lenson Mantras

Calling Associations:
Customers call Associations (Condos, Homeowners, or Cooperatives,) never the real estate agent.

It does not matter where the customer is living, it does not matter if the property is a foreclosure or a short sale. There are no exceptions. Customers and only customers call Associations.

Use Specific Dates:
When the P&S Contract refers to September 15, 2015, it is very clear. When a P&S Contract says something must be done within 20 days from the effective date… then not so clear.

What is the effective date? I have never found an agent who actually knew the definition of an effective date.
What days are included?
What days are excluded?
How are dates calculated? Using business days? Calendar days?
How are holidays handled? Which ones are included? Which ones are excluded? The P&S Contract references national legal holidays. Do you know which ones are the national legal holidays? That would be critically important to know.
If you use specific dates, then all of the unknown, all of the confusion, all of the calls I get that someone is out of contract will go away. You and all parties involved will have less headaches.

No Blanks, No Blanks, No Blanks:
No listing agreement, no purchase and sale contract, and no addenda should have any blanks in them.

When an agent leaves a blank on a document, it is unpleasant when another party fills it in with something not agreed upon by all parties. Now you have an argument between sellers and buyers because the agent left a blank in the document.

No blanks, no blanks, no blanks.

If It Is Not In Writing, It Never Happened:
It does not matter where you are, it does not matter who the witnesses are; in the transfer of real property, if it is not in writing then it never happened. It does not matter if you are talking over the telephone, it does not matter if you are talking nose to nose, it does not matter if you are talking into a plastic cup attached by a string……… if it is not in writing it never, never, never happened.

If something was agreed to verbally, then follow it up with an addendum, a text message or an email confirmation.

As always, call us on the Help Line (561) 756-7002 anytime.

If there is anything in particular you would like for me to review
either via the UPDATE or Brief Note, let me know.

Be Sure To Read Past
UPDATEs & Brief Notes
Posted On www.LensonRealty.com

Protect Yourself
“If It Is Not In WRITING, It Never Happened.”

Help Line (aka Life Line): (561) 756-7002

Warmest & Best Regards To You,

Mark Lenson

Confidentiality Notice: UPDATES ARE COPYRIGHTED and the property of Lenson Realty, Inc. The information in the UPDATE is proprietary and confidential. The above information belongs solely to Lenson Realty Inc. and may be disseminated to Lenson Realty, Inc. agents only. The UPDATE is not to be shared with anyone other than a Lenson Realty, Inc. Agent without the written permission from the Broker/Owner. If you are not a recipient as indicated above you may not use or copy or deliver this message to anyone else. In such case, you should destroy this message and kindly notify the sender by reply.
<< Be sure to read the entire UPDATE. Items are not in any particular order. >>
#
Lenson Realty, Inc.
©

The UPDATE – July 6, 2018

July 6, 2018

Be Sure To Read The Entire UPDATE. Items Are In No Particular Order.

Tri-County Title & Escrow, Inc.: Need A Quality Bi-Lingual Closing Agent?

Call LRI’s Attorney Susan Lopez (561) 362-9820. Competitive rates and superior service.

4400 North Federal Hwy., Suite 208

Boca Raton, FL 33431

Commission Express: Need A Cash Advance?

Call Roy or Greg Weinberg at Commission Express (800) 601-1649. Commission Express has good rates and can send cash to you within 24 to 48 hours. LRI works in conjunction with them to make the experience as easy and seamless as possible.

M A K I N G M O R E M O N E Y

Refer Agents To LRI And Earn $1,000 Per Referral

This Is How We Get Most Of Our Agents

Click HERE for Detail.

Forms In General

FAR is asking if there are any forms agents would like to modify or create that would make selling real estate better.

In response, I forwarded them our Homeowners Association Buyers Right To Cancel form which we have been using for over a decade.

If you have a suggestion, you can submit it directly to FAR or send it to me and I will forward it to FAR on your behalf.

Due to a lawsuit we lost, attached and linked below is a NEW FORM we are required to use when selling Waterfront Property With Ocean Access.

Purchase & Sale Contracts Gone Wild

There are a flood of Purchase & Sale Contracts hitting the market in every possible language you can think of. Including braille and audiobook styles.

The ONLY Purchase & Sale Contracts we use with LRI are PRINTED and PRINTED in ENGLISH ONLY. This is Florida/USA and the primary language here is ENGLISH. Parties can get a translator if need be. Why? If there is an issue and I am called in (as I often am) then the language needs to be in English so I can read it.

This is not discrimination any more than the state of Florida declaring and allowing the primary language to be English.

FinCEN

A Reminder From Susan Lopez Atty., With Tri-County Title & Escrow, Inc.

FinCEN (Financial Crimes Enforcement Network) is incorporated into all Purchase & Sale Contracts.

FinCen is a Federal Law. To prevent Money Laundering, when properties for $1 million and above are being sold, the Closing Agent will be paying special attention to how this property will be titled to the buyer.

If the buyer will take title in the buyers personal name or in a trust, then all will likely be fine. If the buyer is going to take title as an LLC, Partnership, Corporation or possibly another entity, there will very likely be more paperwork required by the Closing Agent (such as IRS Form 8300) as mandated in this transaction. This will take additional time.

Just be aware of the above.

NEW Form

“Waterfront Property With Ocean Access”

Please use this NEW Form immediately with NEW not existing but with NEW Sellers & Buyers of Waterfront Properties With Ocean Access.

If you are selling a Waterfront Property With Ocean Access, this new form will protect all parties to the transaction. The seller, buyer, you, me, and LRI.

Again, please start to use it right away for NEW customers and transactions.

Mike Ferry

Here is the lastest “Mike Ferry TV” video regarding listings.

June 25th click HERE or copy/paste this https://www.mikeferry.com/about/resources/mike-ferry-tv/?tm_source=CriticalImpact&utm_medium=email&utm_campaign=MFTV.

Team Or Group Advertising

If you advertise yourself as a “Team” or “Group” of LRI there is a new administrative rule (61J2-10.026 Team or Group Advertising) that went into effect as on 6/18/18.

The take away for this new rule we must abide by is:

Let me know you are a “Team” or a “Group”.

Your team’s or group’s name can not be advertised larger than the company name or logo.

You must be clear you are a team or group of the real estate company.

The team or group name has certain requirements. When you follow #1 above, I will review those requirements with you.

If you would like to read the administrative rule in detail, you may click HERE or copy/paste this https://www.floridarealtors.org/LegalCenter/HotTopics/loader.cfm?csModule=security/getfile&pageid=367866.

Lastly, all advertisements must comply by 7/1/19.

Electronic Signatures Software MAY Be Hacked

Attorney Susan Lopez at Tri-County Title & Escrow, Inc. once again STOPPED an attempt of yet another scumbag redirecting the buyers funds via a wire transfer to the scumbag’s own personal account.

THIS TIME it appears one of the electronic signature companies was HACKED!

Briefly, scumbags watch your emails and then act as a participant using what looks like YOUR email account or an email of one of the parties to the transaction, directing the buyer to deposit funds to the Scumbag’s bank/escrow account.

NO BUYER should get wiring instructions from email. NO BUYER.

Make sure your buyer signs the Wire Fraud Prevention Notice that is in the Buyers Packet.

Cavaet Emptor = Buyer Beware has never been more applicable.

Rental Deposits

More than ever, rental deposits (first month’s rent, last month’s rent, security deposit, etc.) are not being held in escrow accounts.

The tenant can pay everything that is due when there is a fully executed lease AND Association Approval, if applicable.

When the tenant signs the lease and when you have the Association Approval (if approval is needed) then the tenant delivers 3 checks.

1 check made out to the cooperating side.

1 check made out to the listing side.

1 check made out to the owner.

If you need details on the above and/or clarity, please give me a call on the Help Line C: (561) 756-7000.

Photos

As you all likely know, I tend not to repeat past news but it appears it is necessary.

You Must Take Your Own Photos or Have A Professional Take Them For You.

Photos Are Proprietary

You Can’t Just Use Anyone’s Photos

If the Association President gives you a “stock” photo of the community, can you use it? NO! Those photos are OFF limits.

Google images are OFF limits.

Shutter Stock images are OFF limits.

Getty Images are OFF limits.

Facebook images are OFF limits.

And a bazillion other places are OFF limits.

If the homeowner gives you a photo, it is OFF limits.

You can only use a photo (image) if 1) YOU took the photo or 2) the person who took the photo has given you WRITTEN permission to use the photo. <— The next question is, did the person who gave you written permission have 100% rights to the photo allowing them to give you permission to use the photo?

We lost a lawsuit due to the above. If you have any questions, call the Help Line (561) 756-7002.

The Mark Lenson Mantras

Calling Associations:

Customers call Associations (Condos, Homeowners, or Cooperatives,) never the real estate agent.

It does not matter where the customer is living, it does not matter if the property is a foreclosure or a short sale. There are no exceptions. Customers and only customers call Associations.

Use Specific Dates:

When the P&S Contract refers to September 15, 2015, it is very clear. When a P&S Contract says something must be done within 20 days from the effective date… then not so clear.

What is the effective date? I have never found an agent who actually knew the definition of an effective date.

What days are included?

What days are excluded?

How are dates calculated? Using business days? Calendar days?

How are holidays handled? Which ones are included? Which ones are excluded? The P&S Contract references national legal holidays. Do you know which ones are the national legal holidays? That would be critically important to know.

If you use specific dates, then all of the unknown, all of the confusion, all of the calls I get that someone is out of contract will go away. You and all parties involved will have less headaches.

No Blanks, No Blanks, No Blanks:

No listing agreement, no purchase and sale contract, and no addenda should have any blanks in them.

No blanks, no blanks, no blanks.

If It Is Not In Writing, It Never Happened:

It does not matter where you are, it does not matter who the witnesses are; in the transfer of real property, if it is not in writing then it never happened. It does not matter if you are talking over the telephone, it does not matter if you are talking nose to nose, it does not matter if you are talking into a plastic cup attached by a string……… if it is not in writing it never, never, never happened.

If something was agreed to verbally, then follow it up with an addendum, a text message or an email confirmation.

**************************

As always, call us on the Help Line (561) 756-7002 anytime.

**************************

If there is anything in particular you would like for me to review

either via the UPDATE or Brief Note, let me know.

**************************

Be Sure To Read Past

UPDATEs & Brief Notes

Posted On www.LensonRealty.com

Protect Yourself

“If It Is Not In WRITING, It Never Happened.”

Help Line (aka Life Line): (561) 756-7002

Warmest & Best Regards To You,

Mark Lenson

Confidentiality Notice: UPDATES ARE COPYRIGHTED and the property of Lenson Realty, Inc. The information in the UPDATE is proprietary and confidential. The above information belongs solely toLenson Realty Inc. and may be disseminated to Lenson Realty, Inc. agents only. The UPDATE is not to be shared with anyone other than a Lenson Realty, Inc. Agent without the written permission from the Broker/Owner. If you are not a recipient as indicated above you may not use or copy or deliver this message to anyone else. In such case, you should destroy this message and kindly notify the sender by reply.

<< Be sure to read the entire UPDATE. Items are not in any particular order. >>

Lenson Realty, Inc.

The UPDATE – January 5, 2018

January 5, 2018
Be Sure To Read The Entire UPDATE. Items Are In No Particular Order.

New Forms
Reminder, there are new forms in the marketplace found in www.FloridaRealtors.org under FormSimplicity as well as on our LRI Website. ALL forms are up to date.

Please discard your old Listing & Buyer/Tenant Packets and kindly use the NEW forms.

The FORMS section on our LRI website has been redesigned to make form finding easier than ever.

Fair Housing Business Cards
Once again there have been growing issues with discrimination.

We actually got hit with our first formal action via the OEO (Office Of Equal Opportunity) and RAPB. Luckily our agent was well documented (If It Is Not In Writing It Never Happened) and the case was dismissed months later.

FAR is reminding agents that you can have cards made up as seen below to help deflect or mitigate federal law violations.

Which Forms Do You Need?
Since NEW (updated) forms are now being used for Purchase & Sales, I updated our “Which forms Do You Need” if you are not sure which forms to use depending upon the type of transaction is going on.

So you can click HERE for a link to the new form or you can copy/paste this https://www.dropbox.com/s/oh6p31vfqrv1z1n/Which%20Forms%20Do%20You%20Need.pdf?dl=0. You do not need to start a DropBox account. This form is FREE to download.

Mike Ferry
Other than myself Mike Ferry is the only real estate instructor that knows what he is talking about, in my opinion.

As we enter a new year, you may want to check out and start to receive his tips on having a successful real estate career. You can join his FREE email program.

Click HERE or copy/paste this https://www.mikeferry.com/main/content/mike-ferry-tv?q=content/mike-ferry-tv&utm_source=CriticalImpact&utm_medium=email&utm_campaign=MFTV if you so choose.

You can also click HERE and/or copy this link http://portal.criticalimpact.com/vm2/5bce7cb230b63fb1/25675/9dd39fc5fa656921383698465e933efc for his previous episodes.

FREE Training
If you would like to brush up for next year on how to get listings and/or buyers, here is our FREE Training Form. Click HERE or copy/paste this https://www.dropbox.com/s/rkvlspj6al4kwan/Free%20Training.pdf?dl=0.

Just fill out the form and send it to me.

LRI Help Line
The only phone number for real estate questions is (561) 756-7002. That phone number should be the ONLY number in your cell if/when you need assistance.

LRI Administrative Questions
If you have an administrative question like are expecting a referral check, or you need a copy of your 1099, or you need a Closing Disclosure from a closed file, etc… then email the Office Manager at OfficeManager@LensonRealty.com.

MLS Compensation Field
When you are on the BUYING/TENANT side, be very careful of the compensation lines. It may look like you are getting a certain amount. LOOK CLOSER! There may be verbiage saying you are getting a certain percentage amount minus a certain dollar amount.
MLS Passwords
Do not share your password with others. Due to the influx of agents sharing their passwords, the penalties for doing so have sky rocketed from $500 to $15,000 for multiple offenses. It is a big no-no, so do not share your MLS password with anyone.

MLS Listings On/Off The MLS
MLS is well aware of agents taking a property off the MLS and putting it right back on the MLS to acquire a new (fresher) MLS number. This is a no-no and they are watching for this activity.

Photos
Take This Seriously. We Already LOST One Law Suit.
You cannot use photos that are found on the Internet like Google photos/images or off the county property appraiser’s website or any other place. The key item here is “ownership”.

Google owns everything you see under their photos/images, mapping programs, etc.

The county property appraisal website owns photos they have taken whether of the outside, inside, or even of a blueprint.

Ownership is the key. Who took the picture?
If you personally took the picture then you have ownership.

If anyone else took a picture, you must receive written and signed (written and signed) rights that the ownership to use the photograph has been transferred to you. Or you have written and signed permission to use the photograph before you actually use it.

This does not, not, not mean you have the right to give anyone else permission to a photograph that you do not personally have 100% control over. You may receive permission to use a photograph but not the permission to actually let someone else use it.

The above is critically important. Call the Help Line if you have any questions.

The Mark Lenson Mantras
Calling Associations:
Customers call Associations (Condos, Homeowners, or Cooperatives,) never the real estate agent.

It does not matter where the customer is living, it does not matter if the property is a foreclosure or a short sale. There are no exceptions. Customers and only customers call Associations.

Use Specific Dates:
When the P&S Contract refers to September 15, 2015, it is very clear. When a P&S Contract says something must be done within 20 days from the effective date… then not so clear.

If you use specific dates, then all of the unknown, all of the confusion, all of the calls I get that someone is out of contract will go away. You and all parties involved will have less headaches.

No Blanks, No Blanks, No Blanks:
No listing agreement, no purchase and sale contract, and no addenda should have any blanks in them.

If something was agreed to verbally, then follow it up with an addendum, a text message or an email confirmation.

**************************

As always, call us on the Help Line (561) 756-7002 anytime.

**************************

If there is anything in particular you would like for me to review
either via the UPDATE or Brief Note, let me know.

**************************

Be Sure To Read Past
UPDATEs & Brief Notes
Posted On www.LensonRealty.com

Protect Yourself
“If It Is Not In WRITING, It Never Happened.”

Help Line (aka Life Line): (561) 756-7002

Warmest & Best Regards To You,

Mark Lenson

The UPDATE – June 12, 2017

June 12, 2017
Be Sure To Read The Entire UPDATE. Items Are In No Particular Order.

Commission Express: Need A Cash Advance?
Call Roy or Greg Weinberg at Commission Express (800) 601-1649. Commission Express has good rates and can send cash to you within 24 to 48 hours. LRI works in conjunction with them to make the experience as easy and seamless as possible.

M A K I N G M O R E M O N E Y

Refer Agents To LRI And Earn $1,000 Per Referral
This Is How We Get Most Of Our Agents
Click HERE for Detail.

LRI Specialty Forms On FloridaRealtor.org
In A Folder Under “FormSimplicity”
Many of the LRI Specially Forms are on FormSimplicity. If you presently use them or are planning to use them, please let me know a.s.a.p.

If there is enough demand, I will update all of our forms on FormSimplicity. If not, I will delete the folder.

LRI Website
If anyone is having any type of difficulty with the LRI website, please let me know.

Since we got hacked by China, the website has been sped up. A huge amount of security has been installed to “bullet proof” any future hacking. The website is updated regularly for security purposes and extensively tested for hacking every 24 hours.

Complaints & Violations
Lawsuits, mediations, arbitrations, professional standards activity, broker-to broker issues, and NAR complaints are at an all time high.

The volume of complaints is so high, the NAR has mandated that most complaints going to the Association of Realtors® (AOR) must now through an ombudsman process.

This year alone we’ve already had two major E&O lawsuits, both of which we lost. A third suit is pending.

It is CRITICALLY IMPORTANT that you read, and as far as I am concerned, memorize the “The Mark Lenson Mantras” that are at the end of each of these UPDATEs.

DO NOT SKIP FILLING OUT THE PAPERWORK!!!!
The Buyer’s Package must be signed BEFORE showing property.

When a deposit is made, you must get written PROOF the deposit was made. If you are unable to get PROOF the deposit was made in a timely manner, call me.

Dates….when you refer to a date, make sure it is a specific date. August 16, 2017 is a specific date.
STOP saying “…on or about…”.
STOP saying “…on or before…”.

Use specific dates such as August 16, 2017.

For the first time ever, we have a discrimination complaint filed against us at the AOR and the Palm Beach County OEO (Office of Equal Opportunity.) The OEO is so badly backed up that it’s taking literally months to move along the preliminaries of this legal action.

E&O
If your computer (or other electronic device) has customer information, you MUST have software such as SpyHunter4, Kaspersky, AVAST, etc…. installed that checks for viruses of all kinds and runs daily.

If sensitive information about a customer gets out into the public and you cannot prove you have security on your computer (or other electronic devices,) you are in for an unpleasant ride.

Discrimination lawsuits are on the rise. If an Association has questions on whether someone is married, what their marital status is, or anything about the person(s) purchasing or renting the property, do NOT say anything about who the customers are (as insane as this sounds) but let the customer speak to the Association directly.

Remember this even when you are talking to your homeowner or buyer. Do not, not, not, not comment about who the parties are, other than their names.
In speaking with the FAR attorneys, there are protected classes and also other sensitive situations in which we can come off as discriminatory. When it comes to discrimination, 100% of all complaints, no matter how seemingly ludicrous or far-reaching, are investigated by the OEO (Office of Equal Opportunity.)

Call me if you would like more details on this matter.

How Not To Take An Overpriced Listing
An Abridged Version
During the CMA, explain in detail how you chose the comparables and how adjustments are made. If this is done correctly, you will rarely need to go to the next step.

The next step is to review the Expireds in detail. You will find other properties in the same subdivision priced lower, in better condition, and likely a better location that “failed to sell” for less than what you are suggesting as a list price. Slowly review the positive attributes of properties that have already been on the market for 6 months, 9 months, and a year or more with the property owner. This will take the wind out of their sails.

Lastly, explain how properties on the “Expired” list, when the property is finally listed competitively, typically sells for less since. This is because the buyer will be thinking one of two things:

What is wrong with this property since it failed to sell after so long on the market?
The owner is desperate.

Neither may be true, but in actuality this is what buyers will think. And then they then come in with a much lower than normal offer.

The owner will be so tired of showing their property, they are likely to take any offer just to get the sale over with. Greed will wear the owners down.

Never be afraid to walk away from a listing when the owner is exercising their right to be greedy. Treat Your Business Like A Business. When you (lovingly) act like you do not need anyone’s business, it is amazing how you attract business.

Medical Marijuana & Real Estate
Click HERE for the latest on this subject matter.

Hiring An Attorney
When you are in a transaction and the “other side” hires an attorney, you must get in writing proof that you suggested for your side to also hire an attorney. You must show proof that you are requesting your customer to “level the playing field.” This shows that you are protecting the public.
A verbal statement is not proof. Following up a verbal statement with an email is an excellent idea.

Roofs & Solar Panels
The Roofing Association stopped the above from happening until now. A full roof with solar panels that look exactly like roof tiles has come to Florida. Click HERE for details.

Escrow
There is a crackdown on real estate companies holding escrow. Do NOT put any type of escrowable money with a real estate company. Putting escrow money of any kind into a real estate company’s escrow account is antiquated and automatically trips an audit if there is an escrow issue.

Here is a quote (with grammatical changes only) from one of our agents regarding FREC and Coldwell Banker. This is the second time in the recent past that Coldwell Banker has had a full blown FREC investigation just here in Boca Raton. Coldwell just doesn’t seem to “get it.”

“Hi Mark, attached is an escrow dispute release for you to review and sign. I am soooooo glad Lenson or Tri-County was not holding this deposit!!!! After seeing what the buyers office went thru with FREC, I really see why you do not have an escrow account anymore.” Bold added for effect.

For Purchase & Sales only the Closing Agent should be holding the escrow money.
For Rentals, there should not be any money escrowed. When there is a signed lease (and Association approval if applicable) then ALL money can be given from the tenant to the proper parties, avoiding the need for escrows.

There is no need to wait until the lease commences.

The real estate companies who think “old school” need to get into the 21st century ways of doing real estate.

Get Paid At Closing
Here is a link to our newest, editable, easy-to-fill-out Get Paid At Closing form. Click HERE.

NEW Forms
DUMP your old forms. A variety of new forms have come out from FAR and FAR/BAR as well as new forms in our Listing Packet & Buyer Packet.

Please stop holding onto all old forms. Download all new forms to make sure you are totally up to date.
The Mark Lenson Mantras
Calling Associations:
Customers call Associations (Condos, Homeowners, or Cooperatives,) never the real estate agent.

It does not matter where the customer is living, it does not matter if the property is a foreclosure or a short sale. There are no exceptions. Customers and only customers call Associations.

Use Specific Dates
When the P&S Contract refers to September 15, 2015, it is very clear. When a P&S Contract says something must be done within 20 days from the effective date… then not so clear.

If you use specific dates, then all of the unknown, all of the confusion, all of the calls I get that someone is out of contract will go away. You and all parties involved will have less headaches.

No Blanks, No Blanks, No Blanks:
No listing agreement, no purchase and sale contract, and no addenda should have any blanks in them.

No blanks, no blanks, no blanks.

If something was agreed to verbally, then follow it up with an addendum, a text message or an email confirmation.

**************************

As always, call us on the Help Line (561) 756-7002 anytime.

**************************

If there is anything in particular you would like for me to review
either via the UPDATE or Brief Note, let me know.

**************************

Be Sure To Read Past
UPDATEs & Brief Notes
Posted On www.LensonRealty.com

Protect Yourself
“If It Is Not In WRITING, It Never Happened.”

Help Line (aka Life Line): (561) 756-7002
Warmest & Best Regards To You,

Mark Lenson
Confidentiality Notice: UPDATES ARE COPYRIGHTED and the property of Lenson Realty, Inc. The information in the UPDATE is proprietary and confidential. The above information belongs solely to Lenson Realty Inc. and may be disseminated to Lenson Realty, Inc. agents only. The UPDATE is not to be shared with anyone other than a Lenson Realty, Inc. Agent without the written permission from the Broker/Owner. If you are not a recipient as indicated above you may not use or copy or deliver this message to anyone else. In such case, you should destroy this message and kindly notify the sender by reply.
<< Be sure to read the entire UPDATE. Items are not in any particular order. >>
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Lenson Realty, Inc.
©

The UPDATE – January 15, 2016

Your Profile In The LRI Website “Our Agents”

On the front page of our LRI website, we have a section called “Our Agents” that will be replaced with what you see in the link below.

The following link is private, not open to the public. The link below brings you to a “Staging” or “Test Area” so your profile can be looked at by you and fixed by me before it is open to the public this Friday January 15, 2016.

Everyone, please click HERE and look at your profile. The link works I just tested it several times. Or you can copy/paste the following into your url. www.LensonRealty.com/test-agent-profile.

If you do not have a picture by your name or have a better one than what you see, then please send it to me asap. Pictures should be of good quality. The higher the pixel count the better.

Headshots are not always the best. A bust photo or even further back is better. Send several photos to me if you like.

MOST telephone numbers will be incorrect for now. I know, “no worries”, I will fix the telephone numbers later.

Under your profile it likely says you only speak English. If you speak more than English, I know what it is and the additional language(s) you speak will be added before we go live with the Agent Profile.

Biographies can only be around 75 words long. If you do not have a biography to the right of your name, please send me one asap. Preferably real estate related. If not anything else will do. MANY BIOGRAPHIES are too long. Please shorten your biography to around 75 words.

Agents with no or a poor photo will be put near the end of the list.

Agents without a biography will be put near the end of the list.

Agents with too long a biography will be shortened to about 75 words.

Otherwise the list is in alphabetical order according to your 1st name.

I am aware the browser Microsoft Edge is underlining and dead linking telephone numbers. I am repairing that issue.

Thank you for your attention to making your profile look professional.

Listing Commission

MAJOR ERROR

On line #99 of the listing agreement, this is where you put the total commission. For example, 6%.

“Follow the money”. The property owner gives us 6%. At closing we (LRI) give the cooperating broker 3%.

Therefore it is critically important you put the total commission of 6% on line #99 of the listing agreement.

You do not, not, not, not put 3% online #99. This could cost you your entire commission.

The total commission must go on line #99. If you accidentally put 3% on line #99 then the owner is only obligated to pay us 3%. If you have in the MLS that we are going to pay a cooperating broker 3% then you keep nothing for yourself and LRI receives nothing.

Your 2016 Real Estate Sales Goals

If you have not already set up your goals for 2016, please see the linked Goal Setting Form by clicking HERE.

If you would like training, there is a list of all of the items you can be trained on, on our website.

Brief Notes & UPDATES

It was brought to my attention that an agent put on her calendar a weekly reminder to go to the website and check the Brief Notes & UPDATES just in case one does not make it into her e-mail inbox.

Here are a couple of tips to make sure the Brief Notes & UPDATES always come through.

“Lenson Realty, Inc.” is always first in the subject line. So you can set your email to accept anything with “Lenson Realty, Inc.” (without the quotes) to come through to you.

If you are using webmail (ISP) then you can “White List” MarkLenson@LensonRealty.com thereby allowing anything coming from me to come through.

Home Inspectors

When recommending home inspectors, you must recommend a minimum of three qualified inspectors. I will be posted on our website Home Inspectors that have been inspecting properties longer than the twenty-nine years I have been practicing real estate.

If you have a top-quality home inspector you would like to add to the last, please let me know.

Calling Associations

Don’t.

The following bears mentioning again. We as agents do not call any type of an Association. If the property owner or a prospective purchaser needs information, the customer calls the Association or the management company representing that subdivision.

We as agents never, never, never, never, never, ever call any type of Association.

It does not matter which side of the transaction you are on.

It does not matter if the customer is in the submarine, on the moon, lives in the middle of South Africa, is in a different time zone, that the property was never seen by the customer, it is in foreclosure, a short sale, the customer lives in Germany and has never been to the USA, etc. We as agents never, never, never, never, never call any type of Association.

There are no exceptions to this.

3) It is not the real estate agents job to call any Association.

4) When in agent makes the major error of getting information from an Association and passes the information on, it creates a massive liability situation where I cannot protect you as the agent and it opens LRI to liability.

UPDATE Editing

UPDATES are typically edited by my wife Annmarie. She is out of town on a family matter and is unable to edit this UPDATE. So if there are syntax or spelling errors, I will take full responsibility. Although with her being out of town maybe I can just blame her. LOL. Shhh.

Links

They Work. All link are tested and work when this UPDATE is sent out. Either mouse over a link and then “click” it or mouse over the link and hold down your Control Key (and while holding it down) “click” the link.

In the rare occasion your link is not activated, it is likely due to a security setting on your computer.

Help Line (561) 756-7002

For any questions, call the Help Line as often as you need, 7 days a week.

Put the help line in you cell phone.

No matter how big or small your question is, no matter how often you have already called the Help Line, still call, call, call.

It does not matter how basic your question is. If you have a question, call.

It is a good idea to put the Help Line phone number in your cell phone.

It is immensely easier for us to talk about any real estate-related matter which could become an issue than it is to solve a problem after the damage has already been done.

Hitting “redial” will not call me back to reach me. When you need me, call (561) 756-7002. Please put that number in your address book.

The Mark Lenson Mantras

Calling Associations:

Customers call Associations (Condo’s, Homeowners, or Cooperatives) never the real estate agent.

It does not matter where the customer is living, it does not matter if the property is a foreclosure or a short sale. There are no exceptions. Customers and only customers call Associations.

Use Specific Dates:

When the P&S Contract refers to September 15, 2015, it is very clear. When a P&S Contract says something must be done within 20 days from the effective date… then not so clear.

What is the effective date? I have never found an agent who actually knew the definition of an effective date.

What days are included?

What days are excluded?

How are dates calculated?

Using business days? Calendar days?

No Blanks, No Blanks, No Blanks:

No listing agreement, no purchase and sale contract, and no addenda should have any blanks in them.

No blanks, no blanks, no blanks.

If It Is Not In Writing, It Never Happened:

If something was agreed to verbally, then follow it up with an addendum, a text message or an email confirmation.

**************************

As always, call us on the Help Line (561) 756-7002 anytime.

**************************

If there is anything in particular you would like for me to review

either via the UPDATE or Brief Note, let me know.

**************************

Be Sure To Read Past

UPDATEs & Brief Notes

Posted On www.LensonRealty.com

Protect Yourself

“If It Is Not In WRITING, It Never Happened.”

Help Line (aka Life Line): (561) 756-7002

Warmest & Best Regards To You,

Mark Lenson