If you
utilized one of AAR's purchase contracts in your transaction, your
client agreed to mediate certain disputes that could arise out of that
transaction. Typical disputes may concern earnest money, property
condition, and others. In the unlikely event of a dispute between your
client and the other party(ies) to the transaction, mediation would
provide for an objective third-party (mediator) to meet with all parties
to help them reach a solution. There are some exceptions to DRS
mediation listed in the contract, but most disputes can be mediated
successfully, which can save legal expense and aggravation. Your role as
a real estate agent involved in the transaction may be anything from
making your client aware of this process and getting them the correct
forms to voluntarily participating in the mediation conference itself.
