Posts: 942
Threads: 17
Joined: Aug 2005
We (speaking as a real estate agent) can and should be present, but the real communication needs to be between the professional inspector and the buyer. I know I am not qualified as an inspector.
John Dirgo, R, ABR, e-PRO
Island Trust Properties, LLC
808-987-9243 cell
http://www.hawaiirealproperty.com
Posts: 2,979
Threads: 177
Joined: Aug 2006
Thanks, John. What that case may have been about is when an agent oversteps his or her bounds and in some ways assumes the duties or responsibilities of an inspector. What I am talking about is the agent passing on what the inspector says and observing what the inspector does, and not acting in LIEU of an inspector or pretending to know more than the inspector (altough some agents DO know more than the inspectors).
This is obviously a coverage issue pertaining to when an agent departs from the role of agent and assumes the role of another professional, I would imagine.
However, when an agent merely serves as a report (I saw this, he said that, the inspector said there was a problem with the filter), I think the insurance company would have a hard time denying coverage because that is precisely what an agent does -- stands in the shoes of the principal, and as the eyes and ears of the principal (the buyer).
Can't be too cautious though. There ain't no aloha in real estate transactions.
Posts: 2,314
Threads: 59
Joined: Jun 2003
quote:
John, if that lawsuit is settled I would like to read the summary of it. What Court and when was it.
Pua`a
S. FL
Big Islander to be.
The lawsuit was final and written up in the REALTOR magazine a few issues back. Sorry, I do not have the copy anymore, maybe John Dirgo still has it. I certainly feel sorry for the real estate agent since she really was trying to help her client. Apparently, when the lawyers take over the intention doesn't matter anymore. They sue everybody they can, even the janitor! 
My company has E&O insurance provided by CALSURANCE and our policy forbids the agents to be part of the home inspection. They even provided us with an Addendum/Form that our Buyer clients have to sign. It advises the Buyer to have an inspection done by a Certified Home Inspectior (home inspectors are not licensed) and that the real estate agents are not trained and qualified to do inspections. We have to obey their rules, otherwise we lose coverage.
Aloha,
John S. Rabi, ABR,CM,CRB,FHS,PB
http://www.JohnRabi.com
Typically Tropical Properties
Edited by - John S. Rabi on 06/24/2007 19:55:38
Posts: 4,533
Threads: 241
Joined: Jan 2006
I do refer people to agents regularly - namely those I or my clients have worked with in the past and find to be honest, smart and thorough, and pleasent to deal with. I provide typically the names of three agents, different agencies. For my referrals, I receive the ability to call and ask a question or two when I need to and not wait for a call back, they give me a heads up on changes that occur that may be vital to my business, and they put me in touch with clients that I may suit their needs. Money never changes hands (see John Rabi's comment). They do not buy gifts and I couldnt accept them morally/ethically in good conscience. Therefore, I do the same with them. They will call and ask advice or a question. I send them information I think they may need. And we say hello and ask about each other's families at the grocery store!
Catherine Dumond
Blue Water Project Management
808 217-7578
http://bluewaterpm.125mb.com/index.html
"We help make building your dream home a reality"
Posts: 2,314
Threads: 59
Joined: Jun 2003
Don't I wish everyone was like you in the business Cat! (And I am sure I speak for some others too.) People are judged on their own merits but they are judged on their business associations too. Referring clients to someone who is not professional damages the credibility of the referring person too.
Aloha,
John S. Rabi, ABR,CM,CRB,FHS,PB
http://www.JohnRabi.com
Typically Tropical Properties
