Table of Contents
It is often easy to overlook small actions that nevertheless have a large impact on the validity and fulfillment of a deal. An illustrative example of this is the situation between Ben and Tom.
The Scenario: Seemingly Innocent Negligence
Ben has just signed a valid listing agreement with Tom. With the agreement in hand and the feeling of having closed a successful deal, Ben save all copies of the contract in his briefcase and leaves. At first glance, it may seem like everything is in order, but if Ben continues without reflecting on his action, he is committing a significant violation.
The Requirement: Provide a Copy of the Agreement at the Time of Signing
According to BPC 10142, once a contract that involves the provision of a licensed service in the real estate sector is signed, it is imperative that deliver a copy of said contract to all signatories at that precise moment.
- Transparency: Providing a copy at the time of signing ensures that all parties have immediate and complete access to the stipulated terms and conditions.
- Legal Protection: Having a copy of the signed contract serves as a record of what was agreed upon, providing a backup in case of future discrepancies or disputes.
- Consequences of Non-Compliance: Failure to follow this procedure is not only a violation of the rule, but may lead to the suspension or revocation of the real estate agent's license. With a suspended license, the possibility of receiving compensation for the treatment becomes uncertain, if not null.
Conclusions
Ben's case highlights the importance of meticulously following standard procedures in real estate. What may seem like a simple oversight can have legal and professional consequences. In real estate, every step, no matter how small, is crucial to ensure fair, transparent and legally compliant deals. It is essential that professionals like Ben are aware of these details and perform due diligence at every stage of the process.
