Chapter 1
Kentucky Real Estate Law & Regulations
Course: Kentucky Real Estate Exams Prep
Subject: Kentucky State Sales Associate Exam Prep
Chapter: Ethics Fair Housing Risk Management Of Kentucky National Sales Associate Exam Prep
Documentation:
- The Golden Rule: Real estate is a transaction fraught with potential for misunderstandings and disputes. Meticulous written records are the primary defense.
- What to Document: Everything. Keep copies of all emails, text message logs, signed disclosures, counter-offer chains, inspection reports, repair requests, and notes from phone calls or in-person conversations. A detailed transaction file should tell the complete story.
- Case in Point: A buyer claims the agent promised them the seller would replace the roof. The agent has no written record of such a promise. The dispute becomes a "he said, she said" scenario that could lead to a commission dispute or a complaint to KREC. Had the agent documented the conversation in an email to the buyer ("Per our call, I will present your request for a roof credit to the seller..."), the record would protect them.