Who is responsible for the preparation and accuracy of real estate contracts?

The responsibility for the preparation and accuracy of real estate contracts primarily falls to the individual broker overseeing the contract. This is due to the broker's role in ensuring that all legal and procedural standards are met while also verifying that the contract serves the best interests of the client. Brokers are typically licensed professionals equipped with the knowledge necessary to navigate the complexities of real estate agreements, which often involve specific legal terms and obligations.

While salespeople may draft contracts, they often do so under the supervision of a broker. This means they must rely on the broker's expertise when it comes to the final review and approval of any documents. The client signs the contract, acknowledging its content and implications, but they do not have the legal training to ensure its accuracy or compliance with relevant laws. Similarly, a broker assigned to supervise a team may oversee multiple transactions and contracts but does not bear the same level of direct responsibility as the individual broker specifically overseeing a given contract.

Thus, the individual broker is ultimately accountable for the preparation and accuracy of real estate contracts, ensuring both protection for the client and adherence to real estate regulations.