Real estate transactions are inherently complex. Sometimes issues arise during the course of these transactions that may cause the deal to fall through unless intervention occurs. In such cases, the Realtors involved may need to negotiate additional terms of the agreement so that both the buyer and seller are satisfied.
Early in June, Florida Realtors, who are members of various Realtor associations, met in St. Augustine to take part in a mediation program that was conducted by a real estate attorney. Having successfully completed the program, all of the attending Realtors are now able to be recognized as mediators by their respective association boards.
Mediation is a valuable skill to possess for those professionals who may become involved in a real estate dispute. Often times, mediation is a preferable solution to disputes rather than full-blown litigation. The process of mediation is private and confidential, and it affords the disputing parties more control over the outcome of the dispute. The mediators themselves are familiar with the customs and practices of real estate transactions, so they may be able to facilitate an effective resolution without having to go to court.
Anyone who is involved in a real estate dispute would do well to seek the guidance of a professional experienced in real estate law and mediation. Although one's Realtor may have training in real estate dispute mediation, he or she cannot provide legal advice. Only an attorney experienced in real estate law can review the case and offer legal advice and counsel to help resolve the issue. If needed, the attorney can also escalate the case to the court for litigation.
Source: The St. Augustine Record, "Area Realtors successfully complete mediation program," Victor Ramos, June 20, 2015