Keep it insured until closing. In this BIC TIP for property owners, listing agents, and sellers, Stephen Long explains why the seller must maintain homeowner insurance and utilities right up until the end, and why “the end” is later than many sellers think. The key is understanding that closing means recording. The Contract Puts It…
The new Form 220 is, let us just say, amending things. In this BIC TIP, Stephen Long explains how the form formerly known as the confirmation of compensation has been rebranded and retooled into the Buyer Compensation Addendum, and how it fits alongside seller-paid closing costs in the offer to purchase. Same Number, New Job…
Yes, there is a new Residential Property and Owners Association Disclosure Statement. Huge changes? Psych. In this BIC TIP, Stephen Long clears up the confusion about the 2026 RPOADS: what actually changed, what did not, and why you still need to be using the current version. Is There a New RPOADS or Not? There has…
New listing agreement. Are you ready? In this BIC TIP, Stephen Long gives North Carolina brokers a friendly but firm nudge: the new listing agreement is here, it looks a lot different than the old one, and the implementation deadline at the end of August is coming fast. This Is Not Your Old Listing Agreement…
Excuse me, sir. Can I see your license, please? In this BIC TIP, Stephen Long tackles licenses and permits for repair work. Whether you are negotiating due diligence repairs or prepping a listing for market, the rule of thumb is simple: a license for sure, a permit preferred. Big Systems Need Real Professionals When repairs…
Scam you. Man, they are getting good. In this BIC TIP, Stephen Long shares a recent real-world example of a vacant land scam that nearly fooled a fellow agent, and repeats his favorite rule for land listings: treat vacant land as a scam until it is not. The Documents Looked Bonafide One of Stephen’s agent…
Here, have a loan. Just kidding. That is roughly what a buyer hears when a pre-qualification falls apart after they are already under contract. In this BIC TIP, Stephen Long breaks down the real difference between a pre-qualification and a pre-approval, and why North Carolina buyer agents need their clients to know which one they…
As Austin Powers might ask, who does Number Two work for? In real estate marketing, the public should never have to wonder. Stephen Long is back with a reminder he keeps having to repeat: no blind ads. Your firm must be clear and conspicuous in all of your marketing. What Makes an Ad Blind A…
Survival of the fittest takes on a whole new meaning in real estate. Stephen Long is talking about survivorship, meaning agreements between a buyer and seller that are supposed to survive past closing. If you need one, our standard forms are not going to get you there. Closing Is the Finish Line for the Forms…
Here is a common pitfall that trips up buyer agents, listing agents, and investors alike. If your buyer is using an FHA mortgage and the seller has owned the property for less than 90 days, you are going to have a problem. Stephen Long, who is both a broker-in-charge and a mortgage loan officer, explains…
Here is a question Stephen Long keeps hearing about the new forms: if the listing agreement authorized one compensation amount for a buyer agent, but the offer arrives with a buyer compensation addendum showing a different number, do you need to amend the listing agreement? The short answer is no. The addendum overrides. Where the…
There is nothing short about a short sale. As the market has shifted, Stephen Long has seen short sales making a comeback, and with them, a common mistake: listing agents who never get a proper payoff before they take the listing. What a Short Sale Really Is By definition, a short sale happens when a…
