How to properly fill out Information page of 1-4 Family ?

All right. Let’s talk about how to properly fill out the information sheet.

It’s not how to cut your grass properly.

No, it is not. There’s a lot of grass being mowed right now.

All right. So we’re going to just have a little refresher on the information page of the wonderful family contract.

Ok, so I have that pulled up here on the other screen, so let’s go ahead and transition over there. Right? And which page would you put the last page.

Well, actually it was Page 10.

Ok. Right. Yeah.

Ok. This one here.

Here we go. So this is Broecker information, OK, this is how it’s nobody needs to sign it, but this is how we identify who’s who in the contract, and it’s the information page so that people know who’s involved in the transaction. Ok, OK.

So first and foremost, you you must have the broker’s information first. So other broker firm would be if there’s a buyer, if there is a listing broker and a buyer’s broker that are different to different brokers. So if you represent the buyer, in this particular case, it would be a quiz to real estate and the license number is our corporate license number as a broker.

I have two licenses my personal and our brokerage. The license number must be our brokerage license number. So Twista Real Estate, that’s our license number. This is in the templates, so there should be no reason that you guys don’t have it right? And then you check who you represent.

Ok. Ok. Associate’s name is you. If this is your contract that you’re working on, your name goes there. The buyer’s agent name goes there.

Your license number goes there. Sounds good. We don’t do teams, so you leave team blank. Put your the associate, your email and your phone number down below your licensed supervisor. That’s me. My name, my personal.

Broker license, so that’s the distinction between the two licenses.

Yes. Ok, that is that is the distinction now. Flip it over. Say we have a listing. Ok. Ok. Same thing over there. It doesn’t matter if you representing a buyer or seller, but if you have the listing, you’re going to do the same information over there as we just spoke about.

One other difference is say we have a listing and agent a of a real estate has the listing and Agent B brings in the buyer. If it falls, both buy and sell under the same brokerage, it goes all on the on the right.

The reason we have to separate, because that’s the agreement that the listing broker is going to pay the buyer’s broker.

Ok. Ok. But if they are the same of the same brokerage hours, they go all on the right. All on the right side. Ok. Ok. All right, good. So hopefully that makes sense, and don’t forget to put in the commission what you’re going to be paid. Scroll down just a little bit on the transaction that goes in here.

You need to put a fee in there and it is whatever is shown in MLS. It’s not make up your own percentage or price. It’s whatever is stated in MLS. That’s it. You cannot. Change that. All right, so if you have any questions on that, let us know, but I just want to make sure you guys kind of had a refresher.

We’ve been seeing some contracts come over and it’s got under broker, it’s got the agent’s name and they’re changing the the license numbers.

And we need to make sure because that’s how when the title company settles, everything and everything gets closed out, that’s going to be how they get closed out.

So we’re not looking for creativity here.  

Yeah, just read and put them. If you read it, it’s pretty self-explanatory.

I like getting creative sometimes, you know, and so that that’s not what we want to do with the contracts. No, please. No creativity, no creativity. All right.

Episode Links

MLS , license number, Mike Acquisto , Shana Acquisto , TNT 

Episode Recorded Live on YouTube 12.10.21

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