HorseClosings.com Endorsed by Equestrian Professionals Tommy Serio and Betsy Steiner
WELLINGTON, FL - November 21, 2008 - HorseClosings.com, founded by equine attorneys Krysia Carmel Nelson and Tamara Leigh Tucker of Nelson & Tucker, PLC, has received high praise from dressage rider/trainer Betsy Steiner and hunter rider/trainer Tommy Serio, both well-known professionals in the equestrian world and long-time clients of Nelson & Tucker, PLC.
HorseClosings.com is the first known equine closing company and conducts horse sales similarly to a real estate transaction. Both professionals cited that factor as a plus for the horse business.
"Having horse transactions conducted like a real estate transaction is really good because everything is up front," pointed out Steiner. "HorseClosings.com explains to everybody what's going on, how the professional can be protected, and how the buyer can be protected. That makes for much better business all the way around. It establishes trust between people buying horses and people selling horses. The trust issue on both ends is really, really important."
"Probably the biggest thing is disclosure," noted Serio. "Through the decades and probably centuries, horse deals have been notorious for underlying costs - unbeknownst to buyer, unbeknownst to seller. The day of hidden commissions or the double commissions is coming to an end. With HorseClosings.com, people can feel more at ease selling their horse or buying one, knowing that there's not extra cost involved with inflated commissions."
The government is beginning to get involved in legislating how horse sales are transacted, with states passing specific laws concerning horse transactions. Serio pointed out that HorseClosings.com can help buyers, sellers and agents comply. "No question, HorseClosings.com can help everybody stay within the law," stated Serio. "Taking a horse priced at 'X' number of dollars and then adding 'X' number of dollars to it and representing it to a third party absolutely has been bending the law forever. HorseClosings.com is going to keep everything in bounds. With two lawyers behind this company, for sure transactions are going to be within the law easily."
Almost everyone who has owned a horse has a 'horse deal horror story' to tell - a transaction that ended unpleasantly or with unresolved issues or even a lawsuit. Now, by using HorseClosings.com, horse sales can be conducted with complete transparency for all the parties involved. Both Steiner and Serio agreed that HorseClosings.com would have a positive impact on horse sales.
"Transparency would have a real positive influence," emphasized Steiner. "Everyone needs to feel comfortable - the broker, the person owning the horse, the person buying the horse. If you're a person who cares most about the horse, that the horse ends up in the right place, has the right care, the right training, and it's the right purchase to begin with, then it will be a huge influence on the horse community."
Serio noted that there might be resistance in the horse industry initially, but that transparency will eventually be seen as a benefit. "In the long run, HorseClosings.com is going to take off and it's going to be protection for all the parties involved," said Serio. "It's going to have a very positive, reassuring effect for the buyer, seller and the agent. With the money that's involved today - horses going for six figures and even further than that with the jumpers selling for over a million dollars - it needs some regulations, it needs some disclosure so that when everybody walks away, everybody can sleep at night, and nobody's looking over their shoulder. A couple years down the road when that horse becomes available again or goes to re-sell, then the story of hidden commissions or who made what comes out - there will be none of that anymore. To me that's a nightmare. In the long run, when this finally gets to be an every day occurrence, everybody will breathe a sigh of relief. It's definitely going to help the horse sales people be more amenable to put their horse on the market, put it with an agent, and find a buyer."
Steiner believes that HorseClosings.com would also help the horse industry's image. "The horse industry has gotten such a negative name for doing business incorrectly, so HorseClosings.com puts a good light on things," Steiner said. "People will see that this can be done correctly, positively and ethically. Everybody walks away happy and nobody is wondering what the other guy is doing. It's such a good, clean way to do business."
Serio observed, "HorseClosings.com is a little ahead of its time, but it's been a long time coming. These two lawyers came up with it because they're so involved with the horses. When I first heard about it, I foresaw resistance in the industry, but when you stop and think, you have to say positive things. They are revolutionizing buying and selling and making it a little bit better. Transactions are going to end on a very positive note."
Steiner, who operates Betsy Steiner Dressage in Ringoes, New Jersey, and Wellington, Florida, has been a client of Krysia Nelson's for more than a decade. A world-class competitor, Steiner represented the U.S. at the 1990 World Equestrian Games in Stockholm, Sweden, holds USDF Gold, Silver and Bronze Medals, and has trained many horses to Grand Prix. Steiner pointed out that because Nelson is an active horsewoman, it has benefited her business. "It has helped tremendously because Krysia has the mentality to deal with the horse business itself," Steiner said. "She understands it. She knows the ebb and flow of the horse world and how things happen. Her experience has been huge for me because I don't have to spend a lot of time explaining about the business or how things work. I just call her up and she knows all of that already. Right away she has a very good comprehension and handle on how everything already works. She can really advise you the best way."
Serio concurs that having attorneys who are also horsewomen has helped his business. Based in Keswick, Virginia, Serio has won many prestigious national hunter championships and is one of this country's most prominent hunter rider/trainers. He's been a client of Nelson & Tucker for more than 10 years. "Working with them, there's no explanation about the horse lingo," Serio explained. "They both stay abreast of what's happening, what the deals are and how they unwind, the trade-ins and the underlying factors. They know about how the horse deals are conducted and different aspects of it, how the leases go, and the loopholes and the unforeseen things that we don't even see sometimes when we're putting a deal together. It's been a big help to us. As a professional, because these lawyers ride and are around the horse shows, it cuts a lot of the bases for me, for sure."
Krysia Carmel Nelson, Esq. earned her B.A. from Dartmouth College and her law degree from Villanova University. In private practice, Ms. Nelson represents leading horse owners, trainers, riders, breeders, equestrian facilities, major farms, clubs and associations across all nationally and internationally recognized disciplines. A frequent speaker at industry conferences, including the National Equine Law Conference, she also teaches at the Washington & Lee University School of Law in Lexington, Virginia.¬ A lifelong equestrian, she still competes regularly on the "A" show circuit in the amateur hunter divisions.
Tamara L. Tucker, Esq. earned her B.A. at Mary Washington College, graduating cum laude, and earned her¬ J.D. from the University of South Carolina School of Law. In addition to her business and insurance law practice, Ms. Tucker handles dozens of equine law cases annually. In recent litigation, she received a verdict on behalf of a defendant farm owner in a $1 million premises liability action; a verdict on behalf of the plaintiff horse owner in a breach of contract claim; and a settlement on behalf of a policyholder in an equine mortality coverage case involving a $500,000 broodmare. Ms. Tucker regularly shows in the amateur hunter divisions with trainer Tommy Serio and has garnered tricolors at "A" and "AA" shows throughout the east coast.
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