3-Fold Spike in Questions On
Legal Forms So Far in 2016
First, a caveat: when your broker is Edina Realty, you don’t NEED to call the Minnesota Association of Realtors’ Legal Hotline (frankly, I didn’t even know it existed until last week).
That’s because Edina Realty has three, terrific(!) in-house counsel** available to field agents’ questions and keep them out of trouble — thereby avoiding the need to help agents get out of trouble, after-the-fact.
Audience: Small(er) Brokers With No In-House Legal
Excluding Edina Realty agents, then, guess the likely explanation(s) for a 3-fold spike in questions to the Legal Hotline so far this year regarding the legal forms included in a typical residential sale (Purchase Agreement, Financing Addendum, Inspection Contingency, etc.):
A. A 2015 change to the forms (re: Seller home warranties) is tripping up agents.
B. The 2016 Twin Cities housing market has been especially busy; more deals = more issues/questions.
C. More newcomers are entering the business, who are learning on the job (“heads up” to their clients!).
D. All of the above.
**Any lawyer can speak legalese. Mark Christopherson, CJ Deike and Ed Kaiser are experts in legalese, but speak English (much harder to do).