Is your agent an expert?

It happens in every industry. Individuals wanting to impress customers may talk too much and imply that they know more than they really do. The designations we discussed previously in this column do give agents a higher level of understanding on some critical issues but may not transfer to skills in other areas.

Recently we spoke with a buyer who was seeking a home to improve and resell. He did not share with the agent showing the property that he had any construction experience. As they viewed the agent’s listing he noticed several defects that obviously needed to be addressed and noted them. Often the agent would volunteer an opinion of how affordable the remedies would be for the various, obvious defects.

The customer did not offer any of their own opinions to the agent but walked away from the opportunity with the knowledge that the repairs he saw on the surface would require far more investment than the agent implied. What compelled the agent to mislead the prospective buyer? No doubt it was enthusiasm to present the listing in the best light to the prospect but the danger there is obvious.

If the buyer moves forward with the purchase based on the listing agent’s guesstimates of what it will take to restore the property to its former glory and then discovers the expense to be four times that, is there liability for the listing broker? Pretending to be an expert on areas outside your expertise are not only dishonest but can be expensive if the buyer comes back with a lawsuit.

Costs of repairs are not the only issues and probably are far less common than other issues that are more easily researched. Sometimes agents rely on listing information obtained from an old offering in the Multiple Listing Service and so do not invest the time to research their accuracy.

A home that may have been listed in the county originally that now lies within a city due to annexation may not be what a buyer is interested in. While city services may be attractive the additional taxes to pay for them may not be.

While in the county a home is likely be connected to a septic system. Annexed into the city that same property is not necessarily hooked up to the city sewer. Listing it as such could present an expensive problem for the offending agent and their broker. Making assumptions based on a past agent’s information is not only lazy, it is dangerous. Buyers will want to verify any information touted by their agent.

Just because a fence has been generally accepted as a property line, does not make it true. An agent should recommend a survey if there are doubts. If the buyer does not want to pay for the survey, it should be noted that a survey was recommended and declined and that document should be signed by the buyer.

No matter what your industry, it is easy to stay out of trouble if your are quick to admit, “I do not know.” Always defer to another professional who specializes in areas you are not comfortable.

Trust an expert…call a Realtor. Call your Realtor or visit www.cdarealtors.com to search properties on the Multiple Listing Service or to find a Realtor member who will represent your best interests.

Kim Cooper is a real estate broker and the spokesman for the Coeur d’Alene Association of Realtors. Kim and the association invite your feedback and input for this column. You may contact them by writing to the Coeur d’Alene Association of Realtors, 409 W. Neider, Coeur d’Alene, ID 83815 or by calling (208) 667-0664.