It's not what you know that matters ... It's what you should have known.

Reblogger Chris Ann Cleland
Real Estate Agent with Long & Foster REALTORS®, Manassas, VA VA License # 0225089470

Ignorance of the facts is never a good excuse, especially when you hold a license to do your job, like I do.  This was a great post by Cynthia Larsen on the subject.  The title should stick in your head FOREVER.

Original content by Cynthia Larsen CalBRE# 01433049

Petaluma Train StationIt's not what you know that matters ... It's what you should have known.

These were the words from my teacher, an attorney, when I was taking a required course for my Broker's license: Real Estate Law.

The disclosure process, he said, is where an agent usually gets themselves into trouble. Make sure you disclose not only what you know, but what you should have known. I have never forgotten his words and have tried to make sure I'm on top of "what I should have known".

I was in Starbucks last week when I overheard a customer say... "OMG! I was washing dishes and a *TRAIN* rolled past my house! It was SO LOUD! I'm SO upset, I was told those tracks were no longer in use!"

Of course I had to ask ... "I'm sorry, I couldn't help but overhear. Who told you that trains would never roll on those tracks again?" The answer she gave me was not one I wanted to hear. "My real estate agent". Oops.

After more than a decade of silence, freight trains are again running through Sonoma County. $61MM was poured into upgrading 63 miles of rails and railroad crossings. The local newspaper reported on the progress for several years. Yet somehow, all of this news and activity seems to have escaped the notice of a few.

Should every real estate agent in Sonoma County have known that train service would resume last month? I think so. Maybe all of them didn't know, but I think it qualifies as something they "should have known".

That is why I make it a point to read the newspaper every morning. I watch the news on TV. I learn about school closures, proposed casinos, the expansion of Walmart, road construction, elections and yes, train service. Those are all things I feel I "should have known".

Trains ... I LOVE them. It's time to go flatten some pennies.

 

 

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Copyright © 2010 - 2011 All Rights Reserved

Cynthia Larsen
Broker/Owner - Safe Haven Realty

Sonoma County, California, USA
(707) 332-2560

 

Would you like to receive a Real Estate Market Report for any City in Sonoma County? Just e-mail or call me and I can make it happen.


 cynthia@safehavenrealty.com


 www.safehavenrealty.com





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Rainmaker
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Gwynn Teal
Gwynn Teal Carpenter-Broker: Home and Hearth Realty (Austin) - Austin, TX
Carpenter-Broker, Home and Hearth Realty (512)467-

 

Chris Ann:  Open mouth insert Foot....We all should be careful of what we say, just like telling sellers not to be home during showings as their mouths "run off" and get them in trouble.  Better to say, let me check on this for you than to give a generic answer that is so totally wrong.

Aug 11, 2011 09:55 AM #1
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Bryan Robertson
Catarra Real Estate, Inc - Los Altos, CA
Broker, Author, Speaker

We do disclosures for the future high-speed railway even though it doesn't exist yet.  You're right, we should disclose anything that could even remotely impact the house.  the caveat being that we can't know it all but we should be reasonably aware.  Tracks in front of a house - I'd want to be absolutely certain of their status before selling the house.

Aug 11, 2011 09:56 AM #2
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Chris Ann Cleland
Long & Foster REALTORS®, Manassas, VA - Bristow, VA
Associate Broker, Northern VA

Gwynn:  I'm never afraid to tell someone I don't know, but I know that many agents don't like to look uninformed and will just start talking.

Bryan;  Around here, any neighborhood that has Station or Crossing in the name is a clue.  I drove into a neighborhood I was unfamiliar with the other day named Belmont Station and there on the sign for the community with a steam engine train.

Aug 11, 2011 10:09 AM #3
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Janice Roosevelt
Rory Burkhart Team, Keller Williams - West Chester, PA
OICP ABR, ePRO,Ecobroker

I don't know is an important script that you need not be afraid to use Great choice for a reblog, Chris Ann

Aug 11, 2011 01:36 PM #4
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Chris Ann Cleland
Long & Foster REALTORS®, Manassas, VA - Bristow, VA
Associate Broker, Northern VA

Janice:  I don't know, but I'll find out is something you'll hear me say. 

Aug 11, 2011 06:13 PM #5
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Chris Ann Cleland

Associate Broker, Northern VA
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