It Arrives in 60 Days

The new North Carolina Offer to Purchase goes into play on January 1st, and it will quickly become our only standard option for documenting a sales agreement.  I recently took the update course, and the majority of the class is spent on our new contract.  The changes are extensive.  Over 60% of the contract is new, and a due-diligence approach will soon be our only option.

Option fees and deadlines will be a huge part of the client experience.  To make sure that you are operating with excellence, consider these steps:

• Take the mandatory update course as soon as possible.  Don't let your first experience with the new documents come in January when you receive an offer in this new format.  Even worse will be having to write an offer without the background training. 
• Discuss what you are learning with your BIC and fellow agents.  One of the big questions is "How do we advise clients on the amount of the option fee? "  You may have other questions on implementation, some of which may be addressed by your company's policies.
• Write practice offers.  Take time to write a mock offer; consider it from the perspective of both the buyer and seller.  What questions do you have about the technical points of the contract?  What issues will require input from you as the expert?

Be proactive on this one! It's the most substantial change in our contract in over a decade.  Be ready, be informed, and look forward to doing business a bit differently when the new year arrives.