Despite most real estate agents understanding the importance of legal protection, it’s easy to push it to the side and dump it in the too-hard basket. O*NO Legal Founder and legal strategist Kristen Porter explains why that’s a bad idea.
At the heart of any successful business is good relationships and having the right support network around it.
The best agencies know this and do everything they can to ensure they have the right people looking after every aspect of their business.
Whether it’s growth and expansion, social media, booking and accounting, or graphic design, good business owners know when to outsource.
When it comes to real estate, most also understand the importance of legal protection and compliance.
So why then do agency owners often push their legal affairs to the side or place it in the too-hard basket? Often, I hear them say, “I’ll deal with it tomorrow” but in many cases, tomorrow never comes.
In a lot of situations, it’s a simple case of not knowing what you don’t know. Business owners may not understand what they need, and when they need it. It’s daunting, and can feel both complicated and scary.
In the past, lawyers have thrived off this lack of understanding – if it seems complicated or scary, and only lawyers can deal with it, that’s when they can charge the big bucks.
But what if there was a system, a way, a membership, that could empower you to help yourself – when and where you want?
O*NO Legal’s REAL membership is an on-demand solution, designed to do just that.
But it’s not merely a digital solution. The REAL membership takes it a step further, so you’ll always have accessible humans on the other end that have your back if and when you need it.
It’s a membership powered by a law firm. Real estate is in our blood, which is why O*NO Legal is completely dedicated to providing services to the real estate industry and agents just like you.
Why does it matter?
The real estate industry is highly regulated with massive legal and compliance obligations. And with those serious obligations come equally as serious risks.
All great agency principals are strategic and high-level thinkers, they focus on the big picture stuff. But let’s be honest, they’re not always perfect when it comes to attention to detail in relation to administrative, compliance and legal work.
But how can you expect to protect what you are building – rather than lose what you have spent years of hard work creating – if compliance and legals are not your strong suit?
And even if you do have a knack for taking care of your own legals and compliance without any support, just imagine what you could do if you spent that time focused on growing your revenue, marketshare, and building your team.
Get it sorted or face the consequences
The cold hard truth is, if you don’t sort out your legals, you’re going to pay the price, either in the short term or in the long term. Or often, both. Here are just a few of the things that can go wrong if you push your legals aside.
- You will never achieve top dollar on sale, meaning your retirement nest egg is smaller than it could be.
- You can’t shield your assets or future proof your relationship – meaning you remain unprotected.
- You can’t protect your commission and ensure you don’t waste your time.
- You can’t protect your client database from walking out the door when your staff leave.
- How do you know whether or not you have any ticking time bombs that could blow up at any time, taking your agency down with them?
Legal protection doesn’t have to cost a fortune. Getting your affairs in order through our REAL membership will not only give you peace of mind, you’ll be confident that someone has your back.
You won’t have to look over your shoulder worrying about being caught out with ‘lose your house’ level fines. You’ll also learn something. We work with you, not for you, so you’ll stay up-to-date with legal jargon and legislation, keeping you accountable and on track.
Check out our new free Guide to Your Agency’s Legal Needs Through Your Business Life Cycle, which can be found here https://real.onolegal.com.au/biz-lifecycle-eliteagent
