It’s hard enough for a family-owned firm to make it intact to the third generation without the kind of infighting, lack of interest, or incompetence among descendants that has doomed many a private company.
Recruiting and retaining talent today is more of a challenge than before. Younger people are not necessarily attracted to real estate to begin with, he said, and “the way young people are educated and trained today, there’s an expectation that you’re going to go from job to job in your career.” On top of that, the real estate industry is highly competitive, with agents jumping from firm to firm over which one pays more commission.
The firm has also worked to get its agents to be more engaged with their customers after a sale closes, and to maintain meaningful communication. “A real estate experience is more than just a transaction
The market’s only going to give us what it’s going to give us, but it’s our job to take advantage of every opportunity that the market’s going to give us
Implications of law and terms in realty
Board had been created to compensate certain investors who had claims in tort against the Building Society. The assignment clause said that the investors assigned all claims to the Board except “any claim (whether sounding in rescission for undue influence or otherwise)”. The result of a literal interpretation of this clause was “commercial nonsense”, for it meant that the assignee could not sue for damages. Lord Hoffmann set out “five principles” of interpretation the application of which to this clause produced the following result: investors assigned all claims except “any claim sounding in rescission (whether for undue influence or otherwise)”. The essence of Lord Hoffmann’s five principles is that the meaning of a document is not the meaning of its words simpliciter, but the meaning those words would have conveyed to a “reasonable person having all the background knowledge which would reasonably have been available to the parties in the situation in which they were at the time of the contract”. “Background knowledge”, save in two exceptional cases that we can ignore for the present purpose, does not include pre-contractual negotiations
However, just like Lord Hoffmann’s “assumption of responsibility” approach to damages, it is noticeable that the conventional approach will yield the correct result in a majority of cases. This is not because Lord Hoffman’s test in ICS is deliberately intended to apply to a predefined set of “exceptional” cases, but simply because the “reasonable person” in ICS would in most instances assume that the meaning of an instrument is the dictionary meaning of its words grammatically construed, with no additions, just as the “reasonable addressee” in Belize would normally assume that if a contract is silent as to the happening of a certain event, it was intended that that event has no legal consequences.
Source: NIMMA BENGALURU
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