Let’s get real. The old adage in Real Estate is, “It’s not if you’ll be sued its when you’ll be sued…” So from a practical standpoint someone is going to feel like you have money and would be a good target for a law suit. Nevertheless, in the past 11 years of working in real estate I’ve never been sued. Threatened once, but never sued.
Want to know the secret? It’s not setting up LLC’s for each deal or having a downtown law firm on retainer. It’s always doing the right thing. Always. The customer you are dealing with may be wrong, irrational or just plain mean. You can’t control what other people will do, but you can control your reactions to them.
You know how to react? Get them out of your life as quickly and happily as possible. Give them whatever they want (out of the deal and a total refund is usually what they want). It’s cheaper and easier than a lawsuit. Not to mention the negative mental energy removed from your life.
I have a simple business philosophy. Life is too short to have an angry customer. Always settle. Never litigate. Ever.
